The APEC GDP growth rate will average 2.9% in 2025 and 2026, below the global average of 3.2% and 3.5-3.6% in the rest of the world. Taming inflation could require more monetary policy tightening, slowing growth further. Trade volume growth for goods is set to rebound next year among APEC countries after a largely flat 2023 due to China's sluggish growth, rising to 4.3% for goods exports and 3.5% for goods imports. The data shows "how important it is to re-engage, de-risk and avoid decoupling" of the U.S. and Chinese economies. "I think a stable relationship within U.S. and China is a win-win situation for everyone," Kuriyama said.

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Persons: Janet Yellen, Mark Schiefelbein, Carlos Kuriyama, Joe Biden, Xi Jinping, Kuriyama, David Lawder, Stephen Coates Organizations: Treasury, Lifeng, FRANCISCO, Asia Pacific Economic Cooperation, APEC, Unit, U.S, Thomson Locations: Beijing, China, Asia, San Francisco, U.S