By Sharachchandra Bhandary
Multilateralism has become increasingly important in a world where countries are more closely connected economically but often find themselves divided on political and strategic questions. Trade, technology, energy, climate change and connectivity are issues that rarely stop at national borders. They require countries to talk to one another, even when they disagree.
The Asia-Pacific Economic Cooperation (APEC) forum has an important place in this changing environment. APEC brings together 21 economies that account for a substantial share of global economic activity. Its importance has grown alongside the Asia-Pacific, which has become one of the world’s principal centres of trade, investment, technology and innovation.
China’s hosting of APEC in 2026 is significant in this wider context.
China’s economic transformation over the past several decades has been one of the most consequential developments in modern Asia. The country has developed into a major manufacturing and trading power and has made remarkable advances in infrastructure, technology and innovation. Its growth has influenced economic relations far beyond its borders.
For China’s neighbours, this transformation has been particularly important.
Nepal, separated from China by the Himalayas, has maintained a long and friendly relationship with its northern neighbour. Chinese cooperation has contributed to Nepal’s development efforts in areas including infrastructure, health, education, disaster response and connectivity.
From Kathmandu, therefore, China’s rise is viewed not simply through the language of geopolitics. It is also seen through the practical question of what a growing neighbouring economy can mean for Nepal’s own development.
There are opportunities in trade, tourism, investment, energy, technology and connectivity. For a landlocked developing country, improved connections with the region’s major markets are especially important.
China’s APEC year is also more than the Economic Leaders’ Meeting scheduled for Shenzhen in November. Senior officials and ministers are meeting throughout the year to discuss a range of issues, including trade, connectivity, food security, energy, transportation, finance and human resources.
Such meetings may receive less public attention than a gathering of national leaders, but they are an essential part of the multilateral process. Agreements and understandings at the leaders’ level are generally preceded by months of discussions among officials and ministers.
China has chosen “Building an Asia-Pacific Community to Prosper Together” as the theme of its APEC year, with openness, innovation and cooperation as its priorities.
The real test, as always, will be how these ideas translate into practical cooperation.
The Asia-Pacific is experiencing rapid economic and technological change, but it is also facing uncertainty. Trade tensions, geopolitical differences and disruptions to supply chains have complicated the outlook for many economies. At such a time, keeping channels of economic dialogue open is particularly important.
APEC does not require its members to agree on every issue. Its strength is more modest but also more practical: it provides a regular setting in which economies can discuss their common interests and look for workable solutions.
The choice of Shenzhen as the venue for the November Economic Leaders’ Meeting is especially appropriate. The city has become a symbol of China’s economic transformation and is now a major centre of technology, manufacturing and innovation.
I will have an opportunity to visit Shenzhen in September to participate in an APEC Media Forum. As a journalist from Nepal, I look forward to seeing firsthand a city that has played such an important role in China’s economic transformation and to engaging with journalists from across the region.
The experience will also offer an opportunity to view the APEC process from a closer perspective. Media exchanges are an often-overlooked part of international cooperation. Journalists do not negotiate agreements, but they help societies understand one another and bring regional developments to a wider public.
For Nepal, the larger Asian picture is important.
Nepal has no interest in rivalry among major powers. Its priorities are peace, stability, connectivity, investment, technology and access to markets. A more integrated and prosperous Asia would create a more favourable environment for Nepal’s own development.
China’s growing economic and technological strength will inevitably continue to influence Asia. The question is how that influence will be exercised and how other countries will respond.
There will be competition among Asian economies. There will also be differences in national interests. But these realities do not make cooperation less necessary; in many ways, they make it more necessary.
China’s APEC year provides an opportunity to demonstrate the value of dialogue at a time when the region needs it.
For countries such as Nepal, the hope is simple: that Asia’s economic rise will be accompanied by greater connectivity, wider opportunities and a stronger culture of cooperation.
A stronger China, constructively engaged with its neighbours and the wider Asia-Pacific community, can be an important part of that future.
The author is the Executive Editor of Rastriya Samachar Samiti (RSS), the National News Agency of Nepal, and writes on international affairs, diplomacy and regional geopolitics.
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