This year's Asia-Pacific Economic Cooperation (Apec) summit held in Port Moresby, Papua New Guinea, ended on Sunday (Nov. 18).

But far from a harmonious wrap to the event, the gathering ended without a joint statement from the leaders involved -- the first time in Apec's 29-year history.

Instead, it was overshadowed by a sharp exchange of words between China and the United States.

The ongoing trade conflict between the two powers that shows no signs of ceasing loomed large at the gathering as well.

Here's how things went down at the summit.

China defends itself

According to South China Morning Post, in his speech that lasted almost 40 minutes, Chinese President Xi Jinping called for leaders worldwide to uphold free trade and the spirit of multilateralism:

"Unilateralism and protectionism will not solve problems but add uncertainty to the world economy.

History has shown that confrontation, whether in the form of a Cold War, a hot war or a trade war, produces no winners."

Xi also defended his ambitious but controversial Belt and Road Initiative (BRI) that aims to link Asia with Africa and Europe using a series of land and maritime networks:

"The belt and road (plan) is an open platform for cooperation. (It is) neither designed to serve any hidden political agendas not to target anyone.

It does not cause debt traps, as some want to label it, (but) is a transparent project that brings common development to the world."

US offers Asia an alternative option to China

However, speaking immediately after Xi, US Vice President Mike Pence gave a pointed speech aimed at China that included the unveiling of a series of plans that sought to counter the latter's growing influence.

On the trade war with China

Pence reiterated the US stance on the trade conflict with China, saying they would no longer allow China to take advantage of them:

"We've also stood up to countries that use unfair trade practices. Just look at the stand the President Trump has taken on our trading relationship with China.

As the President said just a few hours ago in the Oval Office, we have great respect for President Xi and great respect for China.

But, in the President's words, China's taken advantage of the US for many many years.

And those days are over."

He added that the US has taken decisive action to address their trade imbalance with China, which is the implementation of tariffs on US$250 billion worth of Chinese goods.

And the amount could be more than doubled in the future, he warned.

Lastly, Pence said:

"The US will not change course until China changes its ways."

Offers "a better option" than China's BRI

Pence also unveiled US plans in the region that aim to rival China's BRI.

Not mentioning any country in particular, he said:

"We're making infrastructure in the Indo-Pacific a top priority.

From roads to railways, ports to pipelines, airports to data lines, the US has a principled approach that stands in stark contrast to some other nations."

He continued to launch a thinly veiled attack on the BRI:

"As we are all aware, some are offering infrastructure loans to governments across the Indo-Pacific and the world.

Yet the terms of those loans are often opaque at best, projects they support are often unsustainable and poor quality.

Too often they come with strings attached and lead to staggering debt."

In addition, he cautioned the region to not fall prey to ill deals offered by "foreign" countries:

"Let me say with great respect to all the nations across this wider region and the world: Do not accept foreign debt that could compromise your sovereignty.

Protect your interest. Preserve your independence.

And just like America, always put your country first."

He added that the US offers "a better option":

"We don't drown our partners in a sea of debt, we don't coerce, or compromise your independence -- the United States deals fairly, openly.

We don't offer a constricting belt or a one way road."

Doubling down on the South China Sea

Militarily, Pence announced plans to develop a naval base in Papua New Guinea together with Australia:

"We will work with these two nations to protect sovereignty and maritime rights in the Pacific Islands."

Furthermore, he defended the US' Freedom of Navigation Operations (FONOPs) in the South China Sea, something that China has always condemned:

 "The USA will continue to uphold the freedom of the seas and the skies, which are so essential to our prosperity. We will continue to fly and sail wherever international law allows and our national interests demand.

Harassment will only strengthen our resolve, and we will not change course.

We will continue to strengthen our efforts within Asean to adopt a meaningful and binding Code of Conduct (COC) that respects the rights of all nations, including the freedom of navigation in the South China Sea."

Later, in another barbed comment aimed at China, Pence said:

"The truth is governments that deny rights to their own people too often violate the rights of their neighbours.

Authoritarianism and aggression have no place in the Indo-Pacific."

Indo-Pacific Strategy

Besides mentioning the "Indo-Pacific" region several times in his speech -- as he did before at the Asean Summit in Singapore -- Pence further emphasised the US' "Indo-Pacific Strategy", and in particular, its plans for further strategic cooperation with India:

"As the world's oldest democracy, the US also feels a particular kinship with the world's largest democracy, India.

And our strategic partnership with India is a key component of our vision.

As we speak, we're increasing our security collaboration with our major defence partner. We're strengthening our trade relations with India and promoting our shared values across the wider region."

Analysts say the US' so-called "Indo-Pacific Strategy" aims to highlight India's rise and downplay China's role in the region.

On Saturday (Nov. 17), the Trilateral Partnership of Japan, India, and the US, announced their plans to provide financing for infrastructure projects in the region.

Nevertheless, Pence said that the US "seeks a better relationship with China [that is] based on "fairness, reciprocity and respect for sovereignty".

Both Xi and Pence delivered their speeches at a conference room on a cruise ship moored off Port Moresby, according to Politico.

Neither were present in the room while the other spoke.

Resolution remains far from sight

US President Donald Trump and Xi are scheduled to meet soon at the G20 summit, which will be held from Nov. 30 to Dec. 1 at Buenos Aires, Argentina.

Despite Pence saying that the US believes progress could be made between both sides, a resolution to the trade spat during the meeting is highly unlikely.

White House officials had said earlier a deal between the two countries would not come that soon, according to CNBC.

American officials also did not take the chance to meet with any Chinese official at the sidelines of the summit, despite Pence meeting Taiwan's representative to Apec.

Top image via New China TV & ABC News/Australia