Behind the APEC Summit’s landmark deals

Behind the APEC Summit’s landmark deals

Fortune

The outcome of this week’s APEC summit meeting between U.S President Barack Obama and Chinese President Xi Jinping was better — much better — than most observers had anticipated.

The two leaders managed to downplay their differences and celebrate their common interests, striking three bargains and issuing a joint statement of intent. The agreements covered the waterfront —a decision to reduce or eliminate tariffs on information technology products, a plan to extend the term of visas, a promise to develop rules of the road for maritime and air encounters in the western Pacific, and a commitment on the part of both countries to take action to address climate change by reducing their carbon emissions. Whatever acrimony might have emerged over issues, such as Hong Kong or cyber, was kept under wraps in favor of a positive message of expanding the common ground between the two countries.

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What accounts…

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