APEC Meeting to be dominated by climate change and COVID-19

APEC Meeting to be dominated by climate change and COVID-19

Asia-Pacific trade group minister’s called the forum of the Asia Pacific Economic Cooperation (APEC) to meet virtually, on October 22. In view to recovering from the Covid-19 pandemic and addressing other issues that will include climate change.

The 21-economy group that involves the United States, China, Japan, and Singapore will conduct the meeting of finance ministers. It came as a disruption to the global economy that recovered from Covid-19 and cloud the outlook for governments and central banks alike.

The recovery process has been uneven, with some groups disproportionately affected by the pandemic, such as women and indigenous peoples.

It is likely that the group will acknowledge that economic activity is rising across the region, but there is still a long way to go since new strains of the virus are preventing a full-scale recovery, and recovery rates vary across countries.

Several regional member nations, including Australia, Indonesia, Malaysia, and Thailand, have seen a decline in infections from earlier this year’s peaks. However, vaccination rates and balancing reopening against the risk of a spike in cases remain major policy considerations.