Xi Hails 'Historic' Trade Pact as APEC Summit Closes

The transcript covers the APEC summit where China proposed a regional free trade pact, the FTAAP, to counter US influence. President Obama supported the initiative while promoting the Trans-Pacific Partnership. A breakthrough was reached in the US-China Information Technology Agreement, aiming to eliminate tariffs on tech products. The US-China summit addressed human rights, cyber crime, climate change, and visa issues, with discussions on a bilateral investment treaty to enhance market access. The summit also focused on climate change and security tensions.

What is the main goal of China's proposed Free Trade Area of the Asia Pacific (FTAAP)?

• To focus solely on technology trade

• To exclude Japan from regional trade

• To counter US influence in the Asia Pacific region

• To increase tariffs on US products

Which trade agreement is seen as a rival to the FTAAP?

• North American Free Trade Agreement

• European Union Trade Agreement

• Trans-Pacific Partnership

• South Asian Free Trade Area

What is the expected outcome of the Information Technology Agreement between China and the US?

• Increase in tariffs on technology products

• Elimination of tariffs on $1 trillion in global sales of technology products

• Introduction of new tariffs on agricultural products

• Reduction of tariffs on European technology products

What is one of the key topics to be discussed at the US-China summit?

• Human rights

• Sports collaborations

• Space exploration

• Tourism development

What is the purpose of the bilateral investment treaty discussed between the US and China?

• To focus on cultural exchanges

• To restrict Chinese investments in the US

• To create better market access between the two economies

• To increase tariffs on imports