APEC Summit 2023 | Leaders pose for family photo
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US President Joe Biden took a family photo on November 16 along world leaders attending the 30th Asia Pacific Economic Cooperation (APEC) summit in San Francisco. Biden, who held a high-stakes summit with Chinese President Xi Jinping on Wednesday (November 15), addressed a summit of CEOs on Thursday before speaking to leaders from the 21-member APEC gathered for the organization's annual summit. APEC members have been closely watching developments between the U.S. and China, the world's two largest economies and strategic rivals, concerned that ever more intense competition could upset global trade and security. APEC accounts for about 62% of global GDP and almost half of global trade. It is unique in grouping economies rather than nations, allowing participation of Chinese-ruled Hong Kong and democratically governed Taiwan, which China claims as its own. It does not though include India, the world's most populous country. APEC operates on the basis of non-binding commitments with decisions reached by consensus and commitments undertaken on a voluntary basis
