Chilean President refuses to host APEC summit

Chilean President Sebastian Piñera has decided to abandon the APEC summit on November 16-17 and the UN climate conference.

• Piñera justified this by protests in the country and common sense: “the president is obliged to put his people above all else.” The main thing now is “to restore public order, the safety of citizens and society as a whole, and also to create a basis for responding to the main demands of the Chileans.”
• The reason for the protests was a slight increase in the cost of travel on the Santiago metro, but their underlying reasons are completely different .
• At the APEC summit, a meeting was expected between the leaders of the United States, Donald Trump, and China, Xi Jinping. She was expected to formalize the “first phase” of a trade agreement that would end the countries’ trade war.
• Markets reacted poorly to the increased uncertainty about future trade relations among the world's largest economies. The Dow Jones and DAX indices fell, the Chilean peso lost 1.6% against the dollar.
• The White House later said it expected to "complete the first phase of the historic trade agreement with China within the same time frame."