Trump’s trip to Asia began on October 25 and the first stop was Malaysia to participate in the ASEAN Summit. The schedule was tightly arranged, flying past Washington and directly investing in various meetings after landing. The focus was on talking about trade and investment with ASEAN countries, including the South China Sea issue. Before the summit, ASEAN foreign ministers had held small meetings to discuss regional cooperation. After Trump’s arrival, he first spoke with Malaysian Prime Minister Anwar, emphasizing strengthening supply chain cooperation and avoiding too much dependence on the single market.
In the afternoon, he visited the local science and technology park, learned about the semiconductor industry and exchanged views with business representatives. In the evening, it was the working dinner, held at the Kuala Lumpur Convention Center. Leaders from all over the world gathered together to eat local dishes like rendang chicken and satay. Trump brought samples of American beef to promote agricultural exports. Before and after the dinner, he briefly met with the leaders of Vietnam, Thailand and Indonesia. The whole process lasts for two hours, and after the end, we go back to the hotel to prepare for the formal meeting the next day.
The summit was officially launched on October 26 next day, and Trump spoke at the opening ceremony about the U.S. commitment to Asia-Pacific, providing chain diversification. He mentioned signing several memoranda of understanding with ASEAN, involving the digital economy and infrastructure, such as the 5G deal with Malaysia, and the upgrading of the port of the Philippines. These were in response to ASEAN’s concerns about U.S. tariffs, because tariffs range from 10% to 40%, affecting exports. Trump interviewed outside the venue and reiterated support for the Vietnamese trade agreement, although Vietnam did not make official statements. At the time of the meeting, he made a call to Japanese Prime Minister High City to coordinate the trip to Tokyo. ASEAN also officially accepted East Timor as the 11th member, Trump witnessed the ceremony
On the morning of October 27, Trump flew from Kuala Lumpur to Tokyo, a seven-hour flight. After landing, he went to the Imperial Palace to meet Emperor Djerin, talked polite for half an hour, exchanged gifts, American cowboy hats for Japan. Then he officially met with Prime Minister Gao Ming at the official residence to talk about defense. Japan agreed to invest $50 billion in the United States, mainly in automobile electronics. Trump said it could create jobs in the United States. After the meeting, the two visited the port of the Gulf of Tokyo to see the automation system.
Go to the Toyota factory in the afternoon, take a round in the test car and learn about the hybrid power. In the evening, Japanese dinner, sushi, Kobe buffet. Trump mentioned the stability of the Taiwan Strait and urged Japan to strengthen patrol. On October 28, he went to the Tokyo Economic Forum to speak, criticizing the global trade injustice, saying that the root of the U.S. deficit was the consumption structure, not throwing the pot of others. The forum signed the semiconductor research and development agreement. In the afternoon, he visited the Ashoka Temple and bought souvenirs for twenty minutes.
On October 29, South Korea flew to Changzhou to participate in the Asia-Pacific Economic Coalition Summit. Arriving to meet with President Yongzhi, focusing on car tariff adjustments. South Korea invested $350 billion in exchange for tariff relief. Trump looked at the Samsung factory, watched the chip line, emphasized technology transfer. Summit opening speech, calling for Asia-Pacific to address geological challenges. Afternoon work lunch, talk about digital currency cross-border payments.
Trump pushes the U.S. to lead the payment framework to fight emerging systems. The CEO dinner in the evening will talk about investment return. The meeting with China on October 30 was the focus of the itinerary. It was a two-hour meeting at the Gyeongju Convention Center and covered fentanyl, soybeans, and chip control. Before the meeting, Trump said in the media area that the talks were making progress and everything was progressing smoothly. This is the style set before the Malaysian dinner party, setting the tone and positive atmosphere. After the meeting, the joint statement agreed to continue the dialogue without specific agreement. Trump then returned to Washington.
Thro the trip, Trump has repeatedly referred to U.S. relations, especially the positive outcomes of talks before the Malaysian dinner, saying everything ended successfully and guided expectations. ASEAN is cautious about U.S. policy, because tariffs and free trade slogans do not match. Vietnam is seen as a trade example, but has not been confirmed. Japan's South Korean investment is a deal, not pure support. Trump wants to preserve the presence of the Asia-Pacific, adhere to the U.S. priority, adding domestic points through advance signals. The total flight is over 20 hours, across the time zone.
China's central bank increased its gold holding from the end of 2024 to 2298 tons by the end of September 2025, accounting for 11 consecutive months, accounting for 22% of global central bank purchases. This buffered dollar volatility, US debt exceeded $36 trillion, expansion may depreciate. It also raised RMB credit, gold independent assets strengthened the foundation. Dealing with geological uncertainty and ensuring independence. The same period of RMB cross-border payments covered 119 countries, with the main currency exchange of the UAE, Thailand and Vietnam settled with cooperation. Expanded RMB scope, promoting trade return. The global foreign exchange reserves dollar share declined by 56%, 30 years low. China focused on the actual layout, not a short-term response.
Global payments multi-currency, Bolivia entered the capital currency of the Communist Republic of China, the SCO discussed development banks, European digital euros. Signal strength adjustment, U.S. financial leadership weakened. Trump's journey shows old pattern limits, ASEAN doubts double standards. U.S. reserves share lead but decline, trade capital settlement base cuts. China's reserves accumulation holds the initiative. Old era tariff sanctions dominate, new pattern balances, the U.S. adapts to multipolar.
Trump's trip to Asia exposed the embarrassment of the United States 'Asia-Pacific strategy, wooing Japan, South Korea and ASEAN but punishing them with tariffs. Talk about cooperation, but engage in confrontation. They want to be obedient and benefit the circle of allies, but the country only looks at interests. Japan invested 550 billion yuan to show defense independence, and South Korea exchanged 350 billion yuan for tariff reductions. This is a deal, not a friendship. The ASEAN dinner bluntly expressed its dissatisfaction with U.S. trade protection. Trump wants the Pacific Police, but no one is cheering. Global de-dollarization is accelerating, central banks reserve multiple currencies, settle in local currencies, and regional systems are emerging. MERCOSUR, Bolivia, Shanghai Banking Corporation of China, European digital euros, and the US dollar are not the only options. The multipolar pattern has replaced the unilateral United States, with a similar historical rhythm, with the hegemony of the pound falling and the downward trend of the dollar.
China's increase in gold is not passive, but a strategy. The central bank continued to buy and reserve 73.9 million ounces, accounting for 22% of the world. Hedging against the risk of the US dollar, with a debt of 36 trillion yuan, you cannot avoid the devaluation of printing money. Promoting the internationalization of the RMB will increase the credibility of gold. Respond to geography and take the initiative. The third largest payment currency of RMB, CIPS119 countries, Middle East, Southeast Asia, Africa and Latin America, have a trend of using RMB for settlement. Trading in local currency with India and United Arab Emirates, settling in Thailand and Vietnam, small moves shake the foundation of the US dollar. The US dollar's foreign exchange reserve ratio fell below 60%, a 30-year low. China is far lower than the United States at 74.9%, but the trend is steady.
Trump predicted the success of China and the United States, like a strategic set, to grab public opinion. However, China and the United States have deep conflicts, with rare earth restrictions, chip bans, reciprocal tariffs, technology decoupling, and opposing core interests. The essence of tariffs is that the neighbors in the United States pay the bill for the fire, the spending of American households increases, China's exports rebound, and the structural problems remain unsolved. The International Monetary Fund pointed out that the U.S. deficit is rooted in the consumption structure, and it is ineffective to dump the pot. ASEAN looks at the United States saying one thing and doing another, talking about free trade and handing tariff sticks. Vietnam agreed that Trump acted by himself, and Vietnam didn't nod.
This is not only a breakthrough for China, but also a reshaping of the global structure. Trump's trip to Asia is embarrassing, attracting allies but punishing them. The country has no obedience, only interests. Japan and South Korea exchanged investment conditions, ASEAN is dissatisfied with the policy. With the policy of de-dollarization and realignment, the central bank's reserves have changed, local currency settlement has flourished, and regional systems have emerged. The dollar is no longer the only one. Multipolarity replaces unilateralism. History is similar. The pound has peaked and the US dollar has a clear trajectory. Trump's preview is like the curtain of the old times.
After Trump's dinner, China's gold entered the warehouse. In the era of tariff sanctions and financial hegemony, it was replaced by trade return to local currency settlement gold reserves. Trump's old script changes the world. The actors act and the audience leave. New times wait for no one, whoever holds the rhythm leads. China hoarding gold is not a defense, but a starting point. The American forecast is not victory, but comfort. The outcome is not at the table, but in the distribution of global power.