India, Nov. 2 -- Leaders of 21 Asia-Pacific Rim nations wrapped up their annual summit with a statement underscoring regional economic cooperation, just days after the presidents of the United States and China agreed to dial down their trade war. After two days of the Asia Pacific Economic Cooperation summit in the South Korean city of Gyeongju, APEC leaders issued a joint statement pledging greater cooperation to overcome shared challenges in a global economy hit hard by trade tensions between the US and China, the world's two largest economies.

On Thursday, U.S. President Donald Trump and China's Xi Jinping who met on the sidelines of the APEC summit dialed back earlier steps and agreed to de-escalate trade tensions. Trump, known for h...