中文
By Liu Chunsheng
As the global economy faces uncertainties, the Asia-Pacific region continues to inject a stabilizing force into worldwide growth with its robust vitality. The 2025 APEC Economic Leaders' Meeting is expected to outline the development trajectory and shared vision for this vast region.
Surveying the current economic landscape of the Asia-Pacific, a dual structure is evident: at one end, some developed economies face challenges of weak domestic demand and sluggish growth, while on the other, emerging markets are demonstrating remarkable growth momentum.
In this new context, the engines of development within the Asia-Pacific are undergoing profound restructuring. The traditional growth model, reliant on investment and exports, is gradually giving way to a diversified system powered by innovation, domestic demand, and green transformation.
The rapid rise of the digital economy in Southeast Asia, the emergence of India's manufacturing sector, and the deepening of regional trade agreements collectively constitute new dynamics, propelling the Asia-Pacific forward.
Particularly noteworthy is the ongoing implementation of the Regional Comprehensive Economic Partnership (RCEP), which is progressively reducing trade barriers, strengthening supply chain resilience, and consolidating the Asia-Pacific's position as the global center of manufacturing. This regional integration process not only creates economies of scale but also fosters entirely new models of value chain cooperation.
Innovation driving economic growth
Innovation, particularly technological innovation, has become a core element driving economic growth in the Asia-Pacific. Innovation corridors are rapidly forming across the region, becoming a fertile ground for nurturing new, quality productive forces. Artificial intelligence is reshaping industries at an unprecedented pace.
A Unitree G1 humanoid robot shows a hugging action at an exhibition hall of Unitree Robotics in Hangzhou, east China's Zhejiang Province, April 23, 2025. [Photo/Xinhua]
From precision production in smart manufacturing to meticulous management in smart agriculture, and from risk control in fintech to accurate diagnosis in healthcare, algorithms and computing power are unleashing immense economic potential.
It is noteworthy that the Asia-Pacific region holds unique advantages in the breadth and depth of AI application scenarios. Its massive population base, well-developed digital infrastructure, and diverse industrial landscape provide an unparalleled testing ground for the implementation of AI technologies.
Green economy for future development
The green technology revolution represents another critical area where the Asia-Pacific is seizing the strategic high ground for future development. Confronting the common global challenge of climate change, many economies in the region are incorporating green development into their national strategies. The continuously declining costs of renewable energy technologies like solar and wind power are making large-scale adoption of clean energy feasible.
The vigorous development of the electric vehicle industry is restructuring the global automotive landscape. Breakthroughs in frontier technologies such as carbon capture, utilization, and storage are providing technical pathways for the transformation and upgrading of high-emission industries. These green innovations not only address the imperative of sustainable development but are also catalyzing trillion-dollar emerging markets, becoming new engines for economic growth.
Digital transformation supporting inclusive growth
Digital transformation has evolved from an option to a necessity, permeating every capillary of the Asia-Pacific's economies. From sensors for smart agriculture in fields, to industrial internet platforms in factory workshops, and "city brain" systems for urban governance, digital technology is deeply integrated with the real economy, significantly enhancing total factor productivity.
More profoundly, digital transformation is bridging geographical divides, enabling even remote corners of the Asia-Pacific to connect to global markets and share the dividends of development. This inclusive growth is a vital source of the region's economic resilience.
However, going it alone is insufficient to address systemic challenges. Cooperation has become an imperative for Asia-Pacific economies to seize opportunities.
In AI, there is a need to jointly establish technical standards and ethical guidelines to prevent fragmented development. For green technologies, efforts should focus on enhancing technology transfer and joint research to accelerate the widespread application of clean technologies. In the process of digital transformation, there is an urgent need to build robust digital governance frameworks with strong interoperability to ensure secure and orderly data flows.
APEC, as the premier economic cooperation platform in the region, provides the institutional foundation for such dialogue and collaboration. This year's meeting is expected to yield new consensus in areas like digital trade rules, mutual recognition of green standards, and AI governance, injecting fresh momentum into regional cooperation.
Certainly, the Asia-Pacific region also faces numerous challenges. Geopolitical tensions could disrupt supply chain stability, the digital divide constrains inclusive growth, population aging pressures labor markets, and climate change-induced natural disasters threaten economic security.
These problems cannot be solved by any single economy; they demand collective wisdom and coordinated action. Asia-Pacific economies need to exercise greater political wisdom to balance competition and cooperation, seek consensus amidst differences, and build community amidst diversity.
Looking ahead, the future of the Asia-Pacific economy is not only vital for regional prosperity but also profoundly interconnected with global development. This dynamic land holds the promise of offering the world a new development paradigm – a multifaceted balanced model that harmonizes efficiency with equity, growth with sustainability, and competition with inclusion. The dialogue in Gyeongju, South Korea represents a significant stride in this exploratory journey toward such a paradigm.
Liu Chunsheng, a special commentator on current affairs for CGTN, is an associate professor at the Beijing-based Central University of Finance and Economics.
