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Xi Hails Beijing Summit as Leaders Back ‘Historic’ Pact

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President Xi Jinping yesterday wrapped up a summit of Asia-Pacific leaders in Beijing with an agreement to work toward a regional free-trade pact that he says will boost prosperity across the region.

Eight years after the idea was first proposed, Xi is pushing for the Free Trade Area of the Asia-Pacific as he seeks to counter U.S. influence in the region. Throughout the forum, he emphasized China’s growing clout and touted tens of billions of dollars it will spend to build overseas infrastructure along key trade routes.