A view of the International Media Center near Gyeongju Hwabaek International Convention Center in Gyeongju, South Korea on October 28, 2025. Photo: VCG

Editor's Note:

Leaders from the Asia-Pacific economies wrapped up their meeting on Saturday. In their declaration, the APEC leaders said robust trade and investment were vital to the region's growth, and stressed their commitment to "deepening economic cooperation to navigate the evolving global environment." Global Times (GT) reporter Zhang Ao interviewed John W.H. Denton AO (Denton), secretary general of the International Chamber of Commerce (ICC) who participated in this year's APEC meetings, about the outcome of the gathering as well as China's role in advancing regional economy.

GT: As a global business leader and international advisor, what was your takeaway from this event?

Denton: The world cannot afford another cycle of rhetoric without delivery. With a major increase in the use of trade restrictive measures by governments, the cumulative drag on trade growth is becoming increasingly visible. The forecast for global merchandise trade growth in 2026 has been slashed to 0.5 percent according to the WTO report, following several years of below-trend performance. These barriers - from tariffs and export controls to localization mandates - are eroding business confidence and fragmenting supply chains at a time when predictability is most needed.

This year's APEC demonstrated that cooperation and competition can coexist - and that open markets remain the most powerful engine for inclusive growth. As the institutional representative of over 45 million companies in over 170 countries, ICC is working to help restore predictability through practical reforms: from our advocacy for a modernized WTO rulebook to initiatives that digitize trade documentation and strengthen SME participation. What business needs from APEC is clear: stability, transparency and a renewed commitment to multilateral cooperation.

GT: This year's APEC meeting identified three thematic priorities: connectivity through multilateral trading system, artificial intelligence (AI) innovation for trade facilitation and prosperity through sustainable trade. How do you see the importance of these three areas in the development trajectory of the Asia-Pacific region?

Denton: These three priorities are precisely where APEC can have transformative impact. Connectivity through the multilateral trading system is not an abstract goal; it's a proven driver of growth. The WTO estimates that trade facilitation reforms can reduce trade costs by up to 14 percent, with developing economies expected to benefit the most.

AI innovation is reshaping global commerce, with the OECD estimating that digital trade already contributes over $6 trillion annually to global GDP. We need to help ensure that AI and digitalization lower barriers to entry for micro-, small- and medium-sized enterprises throughout global supply chains.

And sustainable trade must underpin it all. The Asia-Pacific region accounts for more than 50 percent of global emissions, yet it's also home to the fastest-growing green investment markets. We're working to show how trade policy and sustainability can reinforce each other - not conflict.

GT: You delivered a presentation at the session "Business Strategies Through Enhanced Connectivity Within APEC." The current concept of connectivity has evolved beyond traditional infrastructure, encompassing deep integration within the digital realm. What new cooperation models do you believe China's vast digital economy ecosystem and market size can create to boost connectivity across the Asia-Pacific region?

Denton: Five years ago, the concept of "connectivity" meant ports, roads and logistics. Today, it means interoperable data systems, trusted digital identities and cross-border regulatory coherence.

China's digital economy - now valued at more than $7 trillion, roughly 40 percent of its GDP - is central to this evolution. It is enabling new forms of regional cooperation: from paperless trade corridors linking customs authorities in real time, to AI-driven supply-chain analytics that make trade more efficient and sustainable.

Through our Digital Standards Initiative, ICC is working with APEC economies - including China - to scale the adoption of electronic trade documents, which could save businesses $6.5 billion annually in transaction costs and cut processing times by up to 80 percent. The future of connectivity in the Asia-Pacific lies in this seamless digital integration - and in ensuring that SMEs, not just large firms, can benefit from it.

GT: China has pledged to build an inclusive open Asia-Pacific economy for all at the just concluded APEC meeting. This highly aligned with the APEC Putrajaya Vision 2040, which aims to build an open, dynamic, resilient and peaceful Asia-Pacific community by 2040. How do you envision China further advancing regional cooperation and countering challenges such as economic decoupling?

Denton: China's emphasis on shared development and connectivity aligns closely with APEC's 2040 Vision. The challenge today is not the absence of vision but the erosion of coherence. Fragmentation in standards, finance and regulation is constraining growth. The IMF's analysis shows that economic decoupling among major trading blocs could reduce long-term global output by up to 7 percent - the equivalent of erasing the combined GDP of France and Germany.

China can play a vital role in countering this trend by supporting open, rules-based trade, advancing interoperable digital infrastructure, and promoting green transition finance across developing economies. We stand ready to partner with China and APEC members to make this vision operational - through initiatives on trade digitalization, sustainable supply chains and climate-resilient investment frameworks. Shared development cannot just be a slogan; it must translate into measurable outcomes. 

GT: China will host the APEC Economic Leaders' Meeting in 2026, which presents a key opportunity to build on the 2025 meeting's outcomes. What is your expectation for China to deliver tangible results for global governance?

Denton: China's 2026 APEC host year can be a pivotal moment to rebuild confidence in international cooperation. The priorities should be practical, measurable and business-relevant. From my perspective, three deliverables would make a real difference, which will mark not just a successful host year, but a concrete step toward a more stable, predictable and sustainable global economy. First, a regional roadmap for digital trade interoperability, anchored in global standards under the ICC Digital Trade Standards, ensuring that e-documents and data flows are trusted and accepted across all APEC economies. Second, a financing framework for sustainable infrastructure, aligned with COP30 outcomes, to mobilize private capital at scale - addressing Asia's estimated $1.7 trillion annual infrastructure gap. Third, pathfinder approaches to strengthen trade governance and provide greater predictability and certainty for cross-border commerce - in areas from cross-border data flows to rules of origin harmonization.