Asia-Pacific region remains global growth engine amid rising trade uncertainty: experts

Experts have highlighted the Asia-Pacific region's pivotal role in driving global growth amid rising trade tensions and policy uncertainty, as the Republic of Korea (ROK) prepares to host the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting.

In a China Global Television Network (CGTN) panel discussion, experts and scholars explored APEC's evolving role and the region's impact on the global economy.

The latest projections from the International Monetary Fund (IMF) show that the Asia-Pacific's economy is expected to grow 4.5 percent this year. However, the growth is expected to slow down to 4.1 percent in 2026 amid the negative impacts of tariffs.

Choi Jae-Rim, Professor of Economics at Yonsei University, echoed the IMF's forecast and emphasized APEC's role as a vigilant observer of shifting trade dynamics.

"The escalating trade tensions and rising trade policy uncertainties cause significant risk to the Asia Pacific's economic growth, potentially slowing down momentum in the coming years. This rising trade policy uncertainty reduces firm-level investment and R and D expenditures. As such, trade disputes can disrupt supply chains, increase costs and reduce investment confidence, which may particularly affect export-dependent economies -- (South) Korea, especially in this region. So I think APEC's role is to act as the region's sharp observer," Choi said.

Steven Barnett, former IMF senior resident representative in China, emphasized the Asia-Pacific region's indispensable role in global growth, noting its strong development record.

"Asia Pacific region has really been a key driver of global growth. China and (South) Korea actually provide good examples of this. Thanks to the remarkable development in Korea from 1980, to the latest data, (South) Korea became an advanced economy and income per person grew to 88 percent of the advanced economy average. A truly remarkable record of development and a rare example of a country busting through the middle-income trap and actually rising to advanced economy status. In 1980, China was less than 3 percent of the advanced economy average. And in the latest data, China is little over 38 percent, again, remarkable development. So what can the region do going forward? Basically, continue to have sustainable and robust growth at home -- one of the best things it can do for the global economy," said Barnett.

The 32nd APEC Economic Leaders' Meeting will be held in Gyeongju of the ROK from Friday to Saturday. It will run under the theme "Building a Sustainable Tomorrow: Connect, Innovate, Prosper".

Asia-Pacific region remains global growth engine amid rising trade uncertainty: experts

Asia-Pacific region remains global growth engine amid rising trade uncertainty: experts

Asia-Pacific region remains global growth engine amid rising trade uncertainty: experts

Asia-Pacific region remains global growth engine amid rising trade uncertainty: experts

The prolonged closure of the Rafah crossing has left thousands of Palestinians in Gaza unable to travel abroad for medical treatment, education or family reunions, according to residents and health officials.

For many in Gaza, the crossing is more than a border point. After months of near-total isolation, it has become a crucial route for patients seeking care abroad, students hoping to continue their studies and families separated by the conflict.

Health officials say the extended closure has taken a heavy toll. More than 1,000 patients are reported to have died while waiting for permission to travel overseas for medical treatment.

"Our lives are tied to the crossing. If it opens, it gives us life. If it stays closed, we remain in a state of clinical death. I’ve been in the hospital for one hundred days," said Haitham Al-Qanoua, an injured Palestinian.

Hospitals say tens of thousands of patients remain on waiting lists, including children and cancer patients in urgent need of specialized care that is unavailable inside Gaza.

"More than 20,000 citizens have completed referral procedures for treatment abroad and are waiting to travel. Among them are 4,000 children and 4,000 cancer patients. There are also extremely critical cases that require immediate medical evacuation," said Zaher Al-Wahidi, director of the Health Information Center in Gaza.

The closure has also disrupted education plans, leaving many young Palestinians unable to pursue studies overseas.

"I've applied for Ministry of Education scholarships to study abroad in Turkey and Hungary, but I wasn't lucky to get them. Going abroad would help my parents save the money they spent on me in this awful condition. Opening the crossing is extremely important so people can travel, go on with their lives, and for me to complete my education," said Saeed Masoud, a Palestinian student.

For many families, the closure has meant prolonged separation, with relatives stranded on opposite sides of the border.

"I'm waiting for the crossing to open to see my children and my wife. She, with my children, left Gaza to accompany her father who needed medical treatment after he was injured in an Israeli airstrike on Deir al-Balah. I haven't seen my family for nearly two years, and I miss them deeply," said Ayman Abu Shanab, a displaced Palestinian.

With the Rafah crossing still closed, patients in need of treatment abroad, students seeking to continue their studies and families separated by the conflict remain unable to travel.

Rafah crossing closure strands patients, students, families in Gaza