The APEC Summit is over for another year. Indonesia proved to be an excellent host, managing the logistics of the event very smoothly (they built a whole new airport and toll road to coincide with the occasion). They also managed to achieve some tangible outcomes from the Summit - which in itself is impressive - from a Summit that many critics deride as a talking-shop low on substance. Journalists were also suitably impressed, receiving free massages as well as free food. To top it off, the President of Indonesia, Susilo Bambang Yudhoyono, even surprised President Putin, (and everyone else), by picking up a guitar and singing a birthday serenade to the Russian President. No one can say Indonesia was not a hospitable host!
The document provides an overview of the Asia-Pacific Economic Cooperation (APEC) summit being held in Bali, Indonesia in October 2013. APEC is a forum for economic cooperation among 21 Asia-Pacific countries that accounts for over half of global GDP. Key topics to be discussed at the summit include reducing inequality, developing infrastructure through public-private partnerships, and advancing regional economic integration through agreements like the Trans-Pacific Partnership. The summit will also focus on achieving more open trade and investment across the Asia-Pacific region as outlined in the goals set in 1994 in Bogor, Indonesia.
APEC began as an informal dialogue group in 1989, but has since become the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. It is complementary to WTO and controls 44% of world trade.
The document provides an overview of the Asia-Pacific Economic Cooperation (APEC) summit being held in Bali, Indonesia in October 2013. APEC is a forum for economic cooperation among 21 Asia-Pacific countries that accounts for over half of global GDP. The summit will focus on achieving sustainable and equitable growth, attaining the goals set in 1994 of free trade and investment, and promoting connectivity in the region. Key issues discussed will include rising inequality, the need for infrastructure investment, and the relationship between APEC and other regional organizations like ASEAN.
APEC 2013 was held in Bali, Indonesia. Key outcomes included:
1. Commitments to reduce protectionism and make progress on free trade agreements like the TPP and upcoming WTO talks.
2. Agreements to boost infrastructure connectivity through public-private partnerships and new funds from China and Japan.
3. China's influence grew as the US was absent, though the US still maintains relevance through trade deals. Geopolitical maneuvering between the US, China, and others continued over trade agreements.
4. While some progress was made, challenges remain around completing the TPP and resolving issues between members. Interplay between regional trade blocs like APEC, ASEAN, and the W
- The Asia Pacific region is home to many of the world's largest economies and is an important hub for global trade and investment. The Philippines has been hosting meetings in preparation for the 2015 APEC Summit.
- While the Philippines is a member of international organizations like APEC, it has not fully capitalized on opportunities to attract trade and investment compared to its neighbors. It receives less foreign direct investment than countries like Singapore and Vietnam.
- Reforms are needed to make the Philippines' economy more attractive to foreign businesses, such as removing restrictions on foreign investment in the Constitution and making taxes more competitive with other Southeast Asian nations.
The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 comprising 21 member economies that aims to promote sustainable economic growth and prosperity. APEC members have a combined GDP of $21 trillion and account for nearly half of global trade. Key goals of APEC include facilitating the free flow of goods, services, investment and people across borders through initiatives like faster customs procedures and aligned regulations.
APEC was established in 1989 to promote economic cooperation across the Pacific Rim region. Originally opposed by ASEAN countries, APEC now has 21 member economies. In 1993, the first APEC Economic Leaders' Meeting was held and established the APEC Secretariat. APEC's goals are to achieve free and open trade between members by 2010 for developed economies and 2020 for developing ones. APEC focuses on trade and investment liberalization, business facilitation, and economic and technical cooperation.
The APEC Architect Project establishes standards and criteria for architects across participating economies in the Asia-Pacific region. It includes an online register of qualified architects divided into sections for each of the 15 participating economies. The Central Council governs the project and delegates responsibilities to Monitoring Committees in each economy and a rotating Secretariat that provides administrative services.
The document provides an overview of the Asia-Pacific Economic Cooperation (APEC) summit being held in Bali, Indonesia in October 2013. APEC is a forum for economic cooperation among 21 Asia-Pacific countries that accounts for over half of global GDP. Key topics to be discussed at the summit include reducing inequality, developing infrastructure through public-private partnerships, and advancing regional economic integration through agreements like the Trans-Pacific Partnership. The summit will also focus on achieving more open trade and investment across the Asia-Pacific region as outlined in the goals set in 1994 in Bogor, Indonesia.
APEC began as an informal dialogue group in 1989, but has since become the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region. It is complementary to WTO and controls 44% of world trade.
The document provides an overview of the Asia-Pacific Economic Cooperation (APEC) summit being held in Bali, Indonesia in October 2013. APEC is a forum for economic cooperation among 21 Asia-Pacific countries that accounts for over half of global GDP. The summit will focus on achieving sustainable and equitable growth, attaining the goals set in 1994 of free trade and investment, and promoting connectivity in the region. Key issues discussed will include rising inequality, the need for infrastructure investment, and the relationship between APEC and other regional organizations like ASEAN.
APEC 2013 was held in Bali, Indonesia. Key outcomes included:
1. Commitments to reduce protectionism and make progress on free trade agreements like the TPP and upcoming WTO talks.
2. Agreements to boost infrastructure connectivity through public-private partnerships and new funds from China and Japan.
3. China's influence grew as the US was absent, though the US still maintains relevance through trade deals. Geopolitical maneuvering between the US, China, and others continued over trade agreements.
4. While some progress was made, challenges remain around completing the TPP and resolving issues between members. Interplay between regional trade blocs like APEC, ASEAN, and the W
- The Asia Pacific region is home to many of the world's largest economies and is an important hub for global trade and investment. The Philippines has been hosting meetings in preparation for the 2015 APEC Summit.
- While the Philippines is a member of international organizations like APEC, it has not fully capitalized on opportunities to attract trade and investment compared to its neighbors. It receives less foreign direct investment than countries like Singapore and Vietnam.
- Reforms are needed to make the Philippines' economy more attractive to foreign businesses, such as removing restrictions on foreign investment in the Constitution and making taxes more competitive with other Southeast Asian nations.
The Asia-Pacific Economic Cooperation (APEC) is a regional economic forum established in 1989 comprising 21 member economies that aims to promote sustainable economic growth and prosperity. APEC members have a combined GDP of $21 trillion and account for nearly half of global trade. Key goals of APEC include facilitating the free flow of goods, services, investment and people across borders through initiatives like faster customs procedures and aligned regulations.
APEC was established in 1989 to promote economic cooperation across the Pacific Rim region. Originally opposed by ASEAN countries, APEC now has 21 member economies. In 1993, the first APEC Economic Leaders' Meeting was held and established the APEC Secretariat. APEC's goals are to achieve free and open trade between members by 2010 for developed economies and 2020 for developing ones. APEC focuses on trade and investment liberalization, business facilitation, and economic and technical cooperation.
The APEC Architect Project establishes standards and criteria for architects across participating economies in the Asia-Pacific region. It includes an online register of qualified architects divided into sections for each of the 15 participating economies. The Central Council governs the project and delegates responsibilities to Monitoring Committees in each economy and a rotating Secretariat that provides administrative services.
The document discusses the Asia-Pacific Economic Cooperation (APEC) forum, which has 21 member economies in the Asia-Pacific region accounting for over 40% of the world's population and GDP. APEC aims to support sustainable economic growth through cooperation and by achieving the Bogor Goals of free and open trade/investment across the region. It operates through annual meetings and three pillars - trade and investment liberalization, business facilitation, and economic and technical cooperation. APEC's progress, strengths, and ongoing challenges are also summarized.
APEC and OPEC are international organizations that aim to facilitate cooperation among countries in their respective regions. APEC seeks to promote trade and economic growth in the Asia-Pacific region and includes 21 member economies. It works to reduce trade barriers and facilitate business transactions. OPEC coordinates and unifies oil policies among its 12 member countries, mainly in the Middle East, with the goal of securing stable oil supply and demand. Both organizations meet regularly at ministerial and leadership levels to set policies and have engaged in regional cooperation for decades to achieve their economic objectives.
The document discusses the Association of Southeast Asian Nations (ASEAN) and the Regional Comprehensive Economic Partnership (RCEP). ASEAN was formed in 1967 with 5 countries and now has 10 members, with the goal of utilizing the economic potential of Southeast Asia through cooperation. RCEP would create an economic partnership between the 10 ASEAN countries and 6 Asia-Pacific countries, which together represent over a quarter of global trade. RCEP could significantly increase income in the region through increased trade and investment. However, there are also controversies around ASEAN over human rights and territorial disputes between members.
The document discusses Singapore's economic model and its relationship with Kazakhstan. It outlines the project goals of studying Singapore's economic success and relevance. It then discusses Singapore's political system dominated by the People's Action Party. It describes key aspects of Singapore's economic model including its role as a financial center and reliance on foreign investment. It also notes cooperation developing between Singapore and Kazakhstan in areas like trade, education and investment.
Overview of Singapore., Education , Foreign Policy, Singapore's Economical Strategy and Foreign Investment
Its quick facts ,History and Social Structures .e.t.c.
Singapore's transformation into an economic powerhouse has attracted adulation from developed and developing economies alike. In this paper, I discuss policies that fuelled this growth, and also highlight some negative side-effects/criticisms.
Singapore has a long history as an important trading center dating back to the 7th century. It gained independence in 1965 and underwent rapid economic growth under the leadership of Lee Kuan Yew. The government pursued policies like creating statutory boards to develop infrastructure, implementing the Central Provident Fund, and attracting foreign investment to transition to an export-oriented economy. Singapore developed clusters in industries like petrochemicals, finance, logistics, IT, biopharma, tourism and education to become an Asian economic tiger with one of the highest GDP growth rates in the world by the 1970s and a highly developed economy by 2008.
The Asia-Pacific Economic Cooperation (APEC) is an inter-governmental forum for 21 member economies in the Pacific Rim that promotes free trade throughout the Asia-Pacific region
The Pacific Alliance, that bring together Chile, Colombia, Mexico and Peru, has attracted much attention from many countries as the most dynamic regional integration scheme in Latin America. The group`s economies have been growing faster than other countries in the region and especially its projection into the East Asia is seen as very interesting.
For Peru the Pacific Alliance presents the best opportunity, together with the Free Trade Areas that it has signed with several Asian countries, to have greater economic relations with Asia, but specially to diversify it exports, now concentrated mainly in primary goods, as mineral, fishmeal, and natural gas.
Singapore was founded as a British trading colony in 1819 and has become one of the most prosperous countries in the world with the third highest GDP per capita. It has a highly skilled multiethnic population and relies heavily on exports and foreign investment. Singapore has pursued free trade agreements with many countries and trading blocs to remain a global hub for business, shipping, banking, and tourism.
Asean a community of opportunities (overview ppt) jan2015Channy Leang
The document provides an overview of ASEAN (Association of Southeast Asian Nations), which consists of 10 member states representing over 600 million people and a combined GDP of $2.4 trillion. It summarizes ASEAN's goals of establishing three communities - political-security, economic, and socio-cultural - by 2015 to promote cooperation and accelerate economic growth. Key achievements include agreements reducing barriers to trade, investment, services, and mobility of skilled labor. Going forward, ASEAN aims to deepen integration through its post-2015 vision of a politically cohesive, economically integrated, and socially responsible community.
So what actually is ASEAN and what is the forthcoming Asian Economic Community of 2015 and perhaps more importantly what will be the potential opportunities for foreign investment for both multinational companies and organisations such as SME’s within the AEC in just over two years’ time?
Well with the aforementioned questions in mind ‘The brief guide to ASEAN and the Asian Economic Community’ is designed to answer all of those questions and more and is written as an easy to use and quick reference guide to the subject.
The guide covers the most common topics relating to the subject matter and includes a brief history of ASEAN and a historical timeline of key events. In addition, there is information pertaining to ASEAN’s structure, abiding philosophy and aims, ASEAN’s global trade statistics, ASEAN’s affiliate partners and an introduction, and critical analysis of the forthcoming AEC.
Economic integration in the perspective of BangladeshRifat Ahsan
This document discusses Bangladesh's perspective on economic integration. It outlines that Bangladesh believes economic integration in South Asia can be enhanced through various trade liberalizing initiatives. It notes that Bangladesh has joined several economic organizations, including the Commonwealth of Nations, United Nations, Non-Aligned Movement, OIC, SAARC, BIMSTEC, and WTO. Additionally, Bangladesh has played leadership roles as chairman of the Group of 77 and Group of 48 developing countries. The document provides brief details on Bangladesh's involvement with some of these organizations.
RISE OF SINGAPORE: From WWII ashes to a great Phoenix
BMIR Program, Thammasat University: PO371 SOUTHEAST ASIAN AFFAIRS
Index:
1.Politics
2.Reliance on human resource
3.Education
4.Healthcare service
5.Economic development
6.Sustain economic development
7.Provision of housing
8.Singapore foreign relations
This book examines India's bilateral and regional economic cooperation. It discusses India's cautious approach to regional cooperation prior to 1991 economic reforms and its current engagement with trading partners through regional trade agreements. A key policy was the 1991 "Look East" policy focusing cooperation with East Asian countries. The book also explores India's involvement in various regional organizations like ASEAN, SAARC, and APEC. It analyzes India's economic relations with major partners like China, Australia, and Singapore. Other topics covered include India's regional trade agreements, its role in the WTO and globalization. The book provides a timely analysis of India's economic and trade relations with countries around the world.
Presentation by Ong Keng Yong, Ambassador-at-Large, Singapore
“Looking Towards ASEAN community 2015: Constraints, Obstacles and Opportunities” seminar on 21 April 2011 at Chulalongkorn University
Priorities of development and growth of regions and countries of Black Sea Ba...blackseaforum
The document summarizes Singapore's economic development from an uncertain newly independent nation in 1965 to a prosperous global city-state today. Key points include:
- Singapore adopted pro-business and pro-foreign investment policies, attracting multinational corporations through incentives and industrial parks, spurring economic growth.
- Infrastructure development and workforce training were crucial to transition from labor-intensive to knowledge-based economy.
- Regional economic integration through ASEAN helped Singapore remain relevant and partner with emerging economies like China and India.
This infographic details the key dates in the Association of Southeast Asian Nations (ASEAN) history leading up to the 2015 ASEAN Economic Community (AEC) integration.
The document discusses ASEAN economic integration and implications for exporters. It provides background on ASEAN, including its founding, members, and goals of economic growth and regional stability. It then discusses why ASEAN is important for US trade and investment, detailing two-way trade levels and US FDI in ASEAN countries. The document outlines ASEAN's plans for economic, political, and socio-cultural integration by 2015 to increase competitiveness and benefit the region. It also discusses some challenges to integration from businesses and mechanisms for US cooperation with ASEAN.
APEC Advancing Free Trade for Asia-pacific ProsperityRounak Bhatt
this presentation is all about APEC (Asia Pacific Economic Cooperation). This is for study purpose. how it works?, what its structure? who are members? and all such questions will get answered here...
The document discusses the Asia-Pacific Economic Cooperation (APEC) forum, which has 21 member economies in the Asia-Pacific region accounting for over 40% of the world's population and GDP. APEC aims to support sustainable economic growth through cooperation and by achieving the Bogor Goals of free and open trade/investment across the region. It operates through annual meetings and three pillars - trade and investment liberalization, business facilitation, and economic and technical cooperation. APEC's progress, strengths, and ongoing challenges are also summarized.
APEC and OPEC are international organizations that aim to facilitate cooperation among countries in their respective regions. APEC seeks to promote trade and economic growth in the Asia-Pacific region and includes 21 member economies. It works to reduce trade barriers and facilitate business transactions. OPEC coordinates and unifies oil policies among its 12 member countries, mainly in the Middle East, with the goal of securing stable oil supply and demand. Both organizations meet regularly at ministerial and leadership levels to set policies and have engaged in regional cooperation for decades to achieve their economic objectives.
The document discusses the Association of Southeast Asian Nations (ASEAN) and the Regional Comprehensive Economic Partnership (RCEP). ASEAN was formed in 1967 with 5 countries and now has 10 members, with the goal of utilizing the economic potential of Southeast Asia through cooperation. RCEP would create an economic partnership between the 10 ASEAN countries and 6 Asia-Pacific countries, which together represent over a quarter of global trade. RCEP could significantly increase income in the region through increased trade and investment. However, there are also controversies around ASEAN over human rights and territorial disputes between members.
The document discusses Singapore's economic model and its relationship with Kazakhstan. It outlines the project goals of studying Singapore's economic success and relevance. It then discusses Singapore's political system dominated by the People's Action Party. It describes key aspects of Singapore's economic model including its role as a financial center and reliance on foreign investment. It also notes cooperation developing between Singapore and Kazakhstan in areas like trade, education and investment.
Overview of Singapore., Education , Foreign Policy, Singapore's Economical Strategy and Foreign Investment
Its quick facts ,History and Social Structures .e.t.c.
Singapore's transformation into an economic powerhouse has attracted adulation from developed and developing economies alike. In this paper, I discuss policies that fuelled this growth, and also highlight some negative side-effects/criticisms.
Singapore has a long history as an important trading center dating back to the 7th century. It gained independence in 1965 and underwent rapid economic growth under the leadership of Lee Kuan Yew. The government pursued policies like creating statutory boards to develop infrastructure, implementing the Central Provident Fund, and attracting foreign investment to transition to an export-oriented economy. Singapore developed clusters in industries like petrochemicals, finance, logistics, IT, biopharma, tourism and education to become an Asian economic tiger with one of the highest GDP growth rates in the world by the 1970s and a highly developed economy by 2008.
The Asia-Pacific Economic Cooperation (APEC) is an inter-governmental forum for 21 member economies in the Pacific Rim that promotes free trade throughout the Asia-Pacific region
The Pacific Alliance, that bring together Chile, Colombia, Mexico and Peru, has attracted much attention from many countries as the most dynamic regional integration scheme in Latin America. The group`s economies have been growing faster than other countries in the region and especially its projection into the East Asia is seen as very interesting.
For Peru the Pacific Alliance presents the best opportunity, together with the Free Trade Areas that it has signed with several Asian countries, to have greater economic relations with Asia, but specially to diversify it exports, now concentrated mainly in primary goods, as mineral, fishmeal, and natural gas.
Singapore was founded as a British trading colony in 1819 and has become one of the most prosperous countries in the world with the third highest GDP per capita. It has a highly skilled multiethnic population and relies heavily on exports and foreign investment. Singapore has pursued free trade agreements with many countries and trading blocs to remain a global hub for business, shipping, banking, and tourism.
Asean a community of opportunities (overview ppt) jan2015Channy Leang
The document provides an overview of ASEAN (Association of Southeast Asian Nations), which consists of 10 member states representing over 600 million people and a combined GDP of $2.4 trillion. It summarizes ASEAN's goals of establishing three communities - political-security, economic, and socio-cultural - by 2015 to promote cooperation and accelerate economic growth. Key achievements include agreements reducing barriers to trade, investment, services, and mobility of skilled labor. Going forward, ASEAN aims to deepen integration through its post-2015 vision of a politically cohesive, economically integrated, and socially responsible community.
So what actually is ASEAN and what is the forthcoming Asian Economic Community of 2015 and perhaps more importantly what will be the potential opportunities for foreign investment for both multinational companies and organisations such as SME’s within the AEC in just over two years’ time?
Well with the aforementioned questions in mind ‘The brief guide to ASEAN and the Asian Economic Community’ is designed to answer all of those questions and more and is written as an easy to use and quick reference guide to the subject.
The guide covers the most common topics relating to the subject matter and includes a brief history of ASEAN and a historical timeline of key events. In addition, there is information pertaining to ASEAN’s structure, abiding philosophy and aims, ASEAN’s global trade statistics, ASEAN’s affiliate partners and an introduction, and critical analysis of the forthcoming AEC.
Economic integration in the perspective of BangladeshRifat Ahsan
This document discusses Bangladesh's perspective on economic integration. It outlines that Bangladesh believes economic integration in South Asia can be enhanced through various trade liberalizing initiatives. It notes that Bangladesh has joined several economic organizations, including the Commonwealth of Nations, United Nations, Non-Aligned Movement, OIC, SAARC, BIMSTEC, and WTO. Additionally, Bangladesh has played leadership roles as chairman of the Group of 77 and Group of 48 developing countries. The document provides brief details on Bangladesh's involvement with some of these organizations.
RISE OF SINGAPORE: From WWII ashes to a great Phoenix
BMIR Program, Thammasat University: PO371 SOUTHEAST ASIAN AFFAIRS
Index:
1.Politics
2.Reliance on human resource
3.Education
4.Healthcare service
5.Economic development
6.Sustain economic development
7.Provision of housing
8.Singapore foreign relations
This book examines India's bilateral and regional economic cooperation. It discusses India's cautious approach to regional cooperation prior to 1991 economic reforms and its current engagement with trading partners through regional trade agreements. A key policy was the 1991 "Look East" policy focusing cooperation with East Asian countries. The book also explores India's involvement in various regional organizations like ASEAN, SAARC, and APEC. It analyzes India's economic relations with major partners like China, Australia, and Singapore. Other topics covered include India's regional trade agreements, its role in the WTO and globalization. The book provides a timely analysis of India's economic and trade relations with countries around the world.
Presentation by Ong Keng Yong, Ambassador-at-Large, Singapore
“Looking Towards ASEAN community 2015: Constraints, Obstacles and Opportunities” seminar on 21 April 2011 at Chulalongkorn University
Priorities of development and growth of regions and countries of Black Sea Ba...blackseaforum
The document summarizes Singapore's economic development from an uncertain newly independent nation in 1965 to a prosperous global city-state today. Key points include:
- Singapore adopted pro-business and pro-foreign investment policies, attracting multinational corporations through incentives and industrial parks, spurring economic growth.
- Infrastructure development and workforce training were crucial to transition from labor-intensive to knowledge-based economy.
- Regional economic integration through ASEAN helped Singapore remain relevant and partner with emerging economies like China and India.
This infographic details the key dates in the Association of Southeast Asian Nations (ASEAN) history leading up to the 2015 ASEAN Economic Community (AEC) integration.
The document discusses ASEAN economic integration and implications for exporters. It provides background on ASEAN, including its founding, members, and goals of economic growth and regional stability. It then discusses why ASEAN is important for US trade and investment, detailing two-way trade levels and US FDI in ASEAN countries. The document outlines ASEAN's plans for economic, political, and socio-cultural integration by 2015 to increase competitiveness and benefit the region. It also discusses some challenges to integration from businesses and mechanisms for US cooperation with ASEAN.
APEC Advancing Free Trade for Asia-pacific ProsperityRounak Bhatt
this presentation is all about APEC (Asia Pacific Economic Cooperation). This is for study purpose. how it works?, what its structure? who are members? and all such questions will get answered here...
The document discusses the ASEAN Economic Community (AEC) and its goals of establishing a single market and production base in Southeast Asia. It summarizes that while the AEC aims to liberalize trade and investment, it is not as ambitious as the European Union and does not establish a common market or supranational institutions. Completing the AEC will provide significant economic benefits by boosting intra-ASEAN trade and investment. However, the AEC faces challenges fully liberalizing services, investments, and skilled labor mobility. Mega-regional trade agreements like the TPP and RCEP could further boost growth in ASEAN, but the AEC remains important for ASEAN integration and centrality in the Asia-Pacific region.
International trade law-- 'fta and its impact'vayyagari1
This power point presentation summarizes the impact of free trade areas (FTAs) in Asia. It notes that a majority of FTAs are bilateral agreements between dissimilar countries, creating a "hub-and-spoke" system. FTAs are seen as supporting trade and foreign direct investment by reducing barriers. However, non-tariff measures and rules of origin can limit their effectiveness. The presentation examines FTAs across various Asian economies and suggests that consolidation may proceed by strengthening ASEAN integration and creating an FTA between China, Japan, and South Korea.
This document compares the national strategic plans of the Ministry of Commerce of Thailand and China. It finds that both countries aim to promote domestic economic development and improve competitiveness of domestic businesses through their strategic plans. Thailand's plan focuses on tapping economic potential and improving trade relations with neighboring countries. China's One Belt One Road initiative aims to boost connectivity and cooperation between China and other countries along the route to mutually benefit economic development. The strategies of both countries emphasize improving trade and welcoming foreign investment.
A Comparative Study of the National Strategic Plan of the Ministry of Commerc...IJSRED
This document compares the national strategic plans of the Ministry of Commerce of Thailand and China. It finds that both countries aim to promote domestic economic development and trade, with Thailand focusing on improving competitiveness of SMEs and reducing taxes, while China's Belt and Road Initiative aims to stimulate development through infrastructure investment across many countries. The strategies show consistency in views around supporting trade and investment.
The Report stresses that the while the
state of the region is generally healthy, the Asia-Pacific has to
overcome a number of challenges – especially improving both the
pace and quality of growth in the region.
The focus of this year’s report is on structural reform and inclusive
growth. [...]
The Belt and Road Initiative (BRI) is China's massive infrastructure project involving over 60 countries. A PESTEL analysis indicates both opportunities and challenges. Politically, BRI could improve China's relationships with other countries through economic cooperation. However, cultural differences may need to be addressed. Economically, BRI has the potential to create jobs, boost trade, and increase GDP, but also requires huge investments. Socially, respect for local customs will be important for acceptance of the project.
The document discusses how mega-regional trade and investment initiatives in Asia, including the ASEAN Economic Community (AEC), China's One Belt One Road initiative, and the Trans-Pacific Partnership (TPP), will shape business strategy in ASEAN and beyond. It notes that while ASEAN economies have benefited from globalization, the global economic order is shifting with the rise of China. Mega-regionals are emerging to facilitate deeper integration within regions. By improving infrastructure and regulations, they will create business opportunities but also increase competition across the region.
The East African Community (EAC) was established in 2000 between Kenya, Uganda and Tanzania with the aim of increasing trade and economic cooperation in the region. It has since expanded to include Rwanda and Burundi. The EAC seeks to create a large common market to attract investment and increase competitiveness. With a population of over 137 million currently that is projected to exceed 150 million by 2015, the EAC represents a sizable consumer market in Africa second only to Nigeria. Member states have also experienced strong GDP growth averaging around 8-9% annually in recent years. While challenges remain, the EAC's political and economic integration has progressed further than its previous iteration and its development is expected to significantly impact business opportunities in East
Trevor Manuel is not worried about union opposition to the National Development Plan because:
1) The plan was developed through extensive research to identify South Africa's challenges and propose evidence-based solutions, setting it apart from previous policy approaches.
2) An evidence-based approach prioritizes monitoring and evaluating policies over time to test what interventions are working and what could work better, rather than relying on ideology.
3) This focus on empirical evidence and results is meant to build consensus across different stakeholders in South Africa, including unions, by focusing on what improves lives rather than political positions.
1. The document discusses regional challenges in Asia from the perspective of the OECD, focusing on trends in global and Asian economic integration driven by trade, investment, and global value chains.
2. It notes that while Asian integration was initially market-driven, the number of free trade agreements in Asia has risen sharply in recent years, though financial integration remains limited.
3. Challenges to further Asian regional integration include promoting cooperation across the various regional frameworks and balancing regional and global trade regimes.
China’s growth and appetite for foreign direct investment (FDI) has made Africa its largest investment destination, according to a new report written by the Economist Intelligence Unit (EIU) for leading global law firm, Mayer Brown. The report, “Playing the Long Game: China’s Investment in Africa”, finds that whilst energy and mineral resources have attracted the most Chinese FDI, investments and activities that support Africa’s physical infrastructure is underestimated.
Exploring the opportunities and challenges facing Chinese investors in Africa, the report highlights increased African trade, more direct investment and a surge in export credit financing as the primary drivers of China’s current economic policy towards Africa and looks at the diversity and success of projects that have been financed. It also documents the perception of Chinese investment in Africa and the unique political, cultural and legal challenges of realising projects across such a diverse range of countries.
Peru's Foreign Investment Policy towards China: Comparison with other Latin A...María Isabel Osterloh
Politica de atraccion de inversiones del Peru frente a China: Comparacion con otros paises latinoamericanos: Comparacion con los paises de la Alianza del Pacifico
Ponencia dada en la Universidad Nacional Mayor de San Marcos dada el 29 de setiembre, 2017
Conference given at San Marcos National University on September 29, 2017
APEC is an intergovernmental forum for 21 Asia-Pacific countries established in 1989 to promote economic growth and cooperation. Its goals are to achieve free and open trade and investment between member economies by 2010 for developed countries and 2020 for developing countries. APEC focuses on trade and investment liberalization, business facilitation, and economic and technical cooperation. Major events include annual leaders' meetings and CEO summits to evaluate progress on goals and address issues facing the Asia-Pacific region.
Tba on sino africa relationship - picc&hollard - 5 dec 2012 - final hoWilliam Dey-Chao
China and Africa have developed increasingly strong economic ties over the past decades. The relationship has progressed through political, dormant, and commercial phases currently dominated by China's demand for African resources and Africa's need for infrastructure development. High-level diplomatic visits from China have often preceded growth in trade, investment, loans, and aid. China is now a leading trade partner for Africa and continues to provide no-strings-attached financing for major projects across the continent through initiatives like the Forum on China-Africa Cooperation and China-Africa Development Fund.
The economic success of the Asian Tigers resulted from their own efforts. Each country largely followed the Japanese model of export-led development: they began with exports of the cheapest products, educated their citizens so that they would be knowledgeable workers, and then increased the value of the products that were being exported. Today, South Korea, for instance, is the home of technology giants Samsung and LG, both of which have benefited immensely from government policies that promoted education. Singapore, meanwhile, has become a global trading and banking hub-another example of expertise in a high-value industry.
The document summarizes Indonesia's upcoming 2014 national elections, including key dates and processes. The legislative elections will be held on April 9th to select members of parliament, while the first round of presidential elections will take place on July 9th. The elections will see Indonesians vote for parliamentary representatives at the national, provincial, and district levels. Leading presidential candidates are discussed, along with the nomination requirements to run. An overview is also provided of Indonesia's major political parties and the electoral system used to allocate parliamentary seats.
The document summarizes Indonesia's upcoming 2014 national elections, including key dates and processes. The legislative elections will be held on April 9th to select members of parliament, while the first round of presidential elections will occur on July 9th. The elections will see Indonesians vote for 560 seats in the House of Representatives and 132 seats in the Regional Representative Council. To compete, parties must have chapters in every province and district. Twelve parties are eligible to run nationwide, with three additional parties able to run in Aceh. Front-running presidential candidates include Joko Widodo and Prabowo Subianto, though the nomination process remains unpredictable.
A survey of trust in institutions in Indonesia found that business remains the most trusted at 82%, well above the trust in government which rose 6% to 53%. Trust in NGOs also increased substantially, with a 22% rise among informed groups to 73%. Overall, Indonesia maintains high levels of trust and ranks as one of the most trusting countries globally. While business is seen as more ethical and truthful than government, Indonesians see building infrastructure as the most important role for the latter in business. The key finding is that business is much more trusted than government and expected to help drive social change.
The document summarizes the key findings of the 2014 Edelman Trust Barometer, an annual survey that measures trust in institutions and trust in CEOs and other spokespeople. Some key findings include:
- Overall trust declined slightly globally over the past year but with strong regional variations, with trust increasing in countries like Indonesia and Australia.
- Trust in government and media declined while trust in business and NGOs remained stable. There is now a 14 point gap between trust in business and government.
- Family-owned and small/medium businesses are more trusted than large publicly-traded companies except in Asia.
- Technology remains the most trusted industry while banks lag behind; all industries have increased in trust since 2009
This study analyzed data from interviews with executives from 35 U.S. companies invested in Indonesia across various sectors such as manufacturing, mining, oil and gas, and retail. It found that from 2004-2012, U.S. foreign direct investment in Indonesia totaled $65 billion and companies plan to invest another $61 billion in the next 3-5 years. This investment has contributed to the Indonesian economy and national revenues, creating over 180,000 jobs with average wages of $580 per month. However, the report also cites legal and regulatory uncertainty, insufficient infrastructure, and shortage of skilled workers as barriers to maintaining large foreign investment in Indonesia.
The document lists the winners and nominees for two categories at the 2013 Batik Day Celebration: the winner and other nominees for most creative uses of batik, and the winner and other nominees for most glamorous use of batik.
2013 emerging market supplement trust barometer indonesiaEdelman Indonesia
The document analyzes trust in business in Indonesia based on the 2013 Edelman Trust Barometer. Some key findings include:
- Trust in business is higher in Indonesia (77%) than the emerging market average (67%), with tangible actions like protecting customers being more important to building trust than in developed markets.
- However, Indonesian companies have lower recognition abroad compared to companies from countries like India and Brazil, with most respondents unable to name an Indonesian multinational.
- To increase global trust, Indonesian companies need to raise their international profile through greater public engagement and establishing themselves as thought leaders.
Princes, Ambassadors and the Future of Southeast Asia: ASEAN, 2015 and Free T...Edelman Indonesia
The politics of the time was wonderfully complex – the Chinese community in Sarawak rejected Sarawak’s incorporation into Malaya after Sarawak’s improbable and originally British ‘white Rajahs’ ceded their nominally independent Kingdom to the His Britannic Majesty in just 1946 – while, in parallel, Communism seemed on the rise across Southeast Asia. Writing as a Brit myself, I am also aware that almost exactly forty years ago, in Jakarta, the Indonesians burned down our embassy; largely in protest at Britain’s corralling a hotchpot of British Imperial possessions in Southeast Asia to become the Malay Federation.
The mining industry in Indonesia contributes significantly to the national economy but saw a temporary slowdown in 2012. While Indonesia is a major global producer of coal, copper, gold, tin and nickel, revisions to the country's Mining Law led exports to decline as companies adjusted. This contributed to the mining industry's projected contribution to GDP falling from 12-13% to an estimated 11%. Foreign investors have viewed changes and uncertainties in mining regulations cautiously. The national government aims to increase domestic processing of minerals, but continued uncertainty in implementing laws may reduce foreign investor interest in Indonesia's mining sector.
The document discusses the key findings of Edelman's 2013 Trust Barometer survey in Indonesia. Some of the main points include:
- Trust in institutions has recovered globally after declining in 2012, but intensity of trust remains weak. Business is now trusted more than government in 16 of 26 markets surveyed.
- There are large gaps between how important various trust-building attributes are to the public and how companies are perceived to be performing on those attributes. Listening to customers and ethical practices are seen as most important.
- Lack of integrity and corruption/fraud are seen as leading reasons for declining trust in both business and government. Trust in leaders' ability to act ethically is also very low.
The document summarizes the key findings of Edelman's 2013 Trust Barometer survey in Indonesia. Some of the main points include:
- Trust in institutions has recovered in 2013 after declining in 2012, but the intensity of trust remains weak.
- The survey measured trust in government, media, business, and NGOs across 26 countries, including over 1,000 respondents in Indonesia.
- While trust is higher in 2013, there have been significant shifts in trust levels in institutions from 2008 levels in some countries like China and India.
- Trust remains higher in emerging countries like China, India, and Brazil compared to developed countries like the US, UK, and France.
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Herman Kienhuis
Presentation by Herman Kienhuis (Curiosity VC) on developments in AI, the venture capital investment landscape and Curiosity VC's approach to investing, at the alumni event of Amsterdam Business School (University of Amsterdam) on June 13, 2024 in Amsterdam.
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2. WHO IS IN APEC?
21 member economies
40% world’s population
55% world GDP
44% global trade
WHO IS IN ASEAN?
10 countries
600 million people
2.4 trillion GDP
(around 1/3rd of China’s)
3. CONTENTS
1. Scene Setting: Key Themes
2. Tangible Outcomes: What came out of the APEC
Summit?
3. The Big Conversation: Free Trade
4. Conclusions: Global Trade Dynamics
4. BIG WINNERS:
INDONESIA AND BALI
• Indonesia and Bali have seriously
boosted their international
standing – pulling off a huge
international summit well, with all
the world’s media looking on. The
9th WTO Ministerial Conference
talks will soon follow in December.
• Bali is also a big winner, with a
brand new airport and
infrastructure – not to mention
global media exposure. Future
tourism boost…
5. US-CHINA POWER SHIFT
• China was left largely unopposed to work its
agenda at APEC this year, as the US was
preoccupied with political dysfunction at home…
• China’s successful APEC came hot on the heels of
key state visits to Jakarta and Kuala Lumpur, as
well as boosting support for “upgrading” the
ASEAN-China Free Trade Area (ACFTA) at the East
Asia (ASEAN) Summit, following APEC.*
• China is looking very closely at building its ties
with ASEAN and enhancing connections between
the two. Talk of a modern ‘silk road’ is doing the
rounds…
* The East Asia Summit involves the 10 ASEAN members plus the US, China, Russia, Japan, India, Australia and New Zealand.
6. OBAMA DI MANA? (WHERE IS OBAMA?)
• The US suffered serious international
embarrassment as President Obama was
unable to attend APEC and put forward
his personal push for the Trans-Pacific
Partnership (TPP); a huge free trade
agreement being pushed for by the US
government.
• Further questions are being asked of the
US’s supposed “Asian pivot”: a foreign
policy or a PR strategy?
• Political gridlock at home is increasingly
hurting perceptions of American power
and influence abroad…
7. US STILL RELEVANT
• Despite the absence of Obama
and the intense media hype, US
power is “diminished” not
removed entirely…
• Many countries in the region are
still more favorable to the US than
China; China has a number of
ongoing territorial disputes with
other states in the Asia-Pacific
region. This makes some of these
states much more partial to US
influence.
8. HOWEVER….
• Chinese influence is growing in the
Asia-Pacific…
• They are also making inroads in
ASEAN…
• This is to the detriment of the US, and
to a smaller extent, Japan.
• Russia enjoys the status it gets in a
special relationship with China at
APEC, but Russian influence over APEC
member policy is limited.
Image: APEC 2013
9. CHINESE CHEER
• President Xi Jinping’s trip to
South East Asia was
undoubtedly a success.
• President Xi concluded his first
visit to South East Asia, rounding
of separate bilateral trips to
Indonesia and Malaysia with the
APEC Summit.
China signed $28.2
billion worth of trade
and business deals
with Indonesia
China signed a five
year trade deal to
triple two-way
trade to $160
billion by 2017,
with Malaysia
10. CHINA, APEC
AND ITS FREE TRADE AGREEMENTS
Both would give China unrivalled
market access to ASEAN and the
Asia-Pacific, and exclude the US!
The US is backing the TPP – which
China does not support and refuses
to join.
China backed trade agreements include the Regional
Comprehensive Economic Partnership (RCEP), between 16
Asia-Pacific nations – the 10 ASEAN states plus Australia,
China, India, Japan, South Korea and New Zealand. The
RCEP is slated to operate from the end of 2015.
The RCEP includes more than 3 billion people, has a
combined GDP of around $17 trillion, and makes up about
40% of world trade.
Also the ASEAN-China Free Trade Area (ACFTA), which
would create an economic area of 1.9 billion people and a
regional GDP of around $10.2 trillion.
TPP
RCEP
ACFTA
11. DON’T KNOW YOUR TPP FROM YOUR RCEP?
Trans-Pacific Partnership (TPP)
(12 Nations)
• Australia
• Brunei
• Canada
• Chile
• Japan
• Malaysia
• Mexico
• New Zealand
• Peru
• Singapore
• US
• Vietnam
Regional Comprehensive
Economic Partnership (RCEP)
(16 Nations)
• Australia
• China
• India
• Japan
• South Korea
• New Zealand
• (PLUS THE ASEAN 10)
• Brunei Darussalam
• Cambodia
• Indonesia
• Laos
• Malaysia
• Myanmar
• Philippines
• Singapore
• Thailand
• Vietnam
“We’ve gone from 5 free trade
agreements in the region to 75
and another 82 being
negotiated.” –
Singaporean Prime Minister Lee Hsien Loong,
on bureaucracy of free trade (FTA)
agreements in the Asia region.
12. THE FTA PYRAMID
TPP - 12 countries – mirrors Transatlantic Trade
and Investment Partnership (T-TIP) between US and
EU. The TPP is “wide and deep” in its scope.
RCEP – “ASEAN+3” (China, Korea, Japan)
+ India, Australia and New Zealand. This is the
only time India appears in a major Asia
regional FTA.
WTO – BASELINE GLOBAL TRADE
RULES!
14. THE APEC WAY…
Remember,
APEC is not a binding forum…
APEC’s role is to form political agreement and
consensus on economic issues and trade.
Its members can work as willing
individual nations or groups of nations to
pursue bilateral, regional or multilateral
agreements, especially on trade issues.
15. PLEDGES TO FACEDOWN PROTECTIONISM
A commitment was made to
extend through the end of
2016 an agreement to reduce
and roll back protectionist
measures – such as tariffs,
import bans and quotas.
16. APEC MINISTERIAL MEETING
Indonesia got three of its proposals in the bag during
the Ministerial Meeting:
A connectivity framework;
Multi-year plans for investment in infrastructure
development;
A study of products that could contribute to poverty
alleviation, (and therefore should have tariffs
reduced), as they promote rural development and
sustainable growth.
•
•
The latter is a real breakthrough for Indonesia, as it
tries to get crude palm oil (CPO) and rubber in a list
of tariff reduced or exempted goods; both are major
Indonesian products. (A breakthrough on this
certainly would benefit Indonesia, Malaysia, and
Singapore's big palm oil producing companies).
•
This moderate success is also good political PR for
Indonesian Trade Minister Gita Wirjawan, who has
Presidential aspirations for 2014.
Image: APEC 2013
17. A RENEWED FOCUS ON INFRASTRUCTURE
• Boosting connectivity is
a must for Asia and APEC; poor
infrastructure is increasingly
impeding the growth potential
of the region.
• Connectivity is already a
big issue in ASEAN – the
primary focus ahead of the
ASEAN Economic Community
2015 is connectivity – the
question is how to make it
happen…
In APEC/ASEAN
speak,
connectivity
means roads, rail
& ports
18. ARE PPPs THE ANSWER?
• Public Private Partnerships (PPPs) are frequently touted as
the answer, but suffer from capacity gaps, a lack of
finance, legal uncertainty, regulatory impediments and
less than certain government guarantees. These are
major barriers to the private sector…
• Ensuring that PPPs have a solid legal framework will be
the main challenge in getting projects up and going.
• Legal systems will need strengthening. Investors need to
know they have solid legal ground for the lifecycle of the
project – often decades long…
19. A PPP PILOT CENTER AND EXPERT PANEL
• A greater emphasis on private sector
involvement through boosting the PublicPrivate Partnership (PPP) mechanism,
was one of the key announcements.
• Indonesia has announced a pilot PPP
center, supported by an expert panel,
which will bring together national,
regional and international financial
institutions to boost PPP projects within
APEC.
20. PPP PILOT CENTER REMIT
1.
Provide technical expertise to the
economy for any stage of the project
cycle, covering technical, economic
and financial questions;
2.
Ensure coordination by developing
and reviewing project structures,
removing bottlenecks, filling gaps
and identifying problems in the
delivery of particular infrastructure
projects; and
3.
Assist to raise the capacity of
relevant entities in the economy to
develop PPPs.
21. OTHER INFRASTRUCTURE
ANNOUNCEMENTS
•
The APEC infrastructure framework and multi-year plan is hoped to expand similar
work already carried out by ASEAN and broaden its scope.
•
In the last few days, China has also announced that it will set up and provide funding
for an Asian Infrastructure Investment Bank, to help facilitate regional connectivity
and infrastructure development in the Southeast Asian region.
• Japan has also made a similar announcement to provide
infrastructure support and technical assistance to the region –
focusing on energy and transportation.
• Both China and Japan are maneuvering for leverage and power
within the increasingly economically critical ASEAN area – not to
mention the US – so, while so far, PPP has had variable take-up
around the APEC region, (and is particularly weak within ASEAN),
this bodes well for scaled-up participation…
22. APEC CEO SUMMIT
•
According to the PWC 2013 APEC CEO Survey – which surveyed CEOs working in the AsiaPacific region – there is still growing business confidence, despite global economic challenges.
•
The China, Indonesia and the United States were cited as the three most likely destinations for
FDI in the region…
•
68% of CEOs will be increasing their investments in APEC economies over the next 12 months.
•
The finding that the US is the 3rd largest beneficiary of investment is also significant. As costs
invariably rise in a more wealthy and aspirational Asia, some jobs and output will be cheaper for
US firms to “bring back home”. This reminds us that Asian economic success, while highly
probable, is not a birth right.
23. THE BIG CONVERSATION: FREE TRADE
The Trans-Pacific Partnership (TPP)
A $28 trillion area of
annual economic
output
24. PROGRESS ON THE TRANS-PACIFIC
PARTNERSHIP
•
Moves to push forward the TPP went ahead without the clout of Obama,
but supported strongly by Secretary of State, John Kerry, and Secretary of
Commerce, Penny Pritzker.
•
Despite the White House spin, many nations are in less of a hurry to get
the TPP to fit an artificial US timetable (end of 2013 as a sign of
economic progress), and are putting more emphasis on getting a good
deal rather than a fast one.
•
The US business community has also voiced its continued concern over
rushing through a watered down TPP, which would leave in place room for
currency manipulation and IP infringement (this division of priorities
between the White House and US Business was very apparent at the
APEC CEO Summit.) US businesses want a strong rule-based agreement.
25. CONTINUED ROADBLOCKS TO THE TPP
•
Malaysian Prime Minister Najib Razak, (note Malaysia backs TPP), said the yearend deadline for completion may not be met and warned some areas of the
talks are cause for “great concern”. Mexico also voiced doubts about the
timeline.
•
Issues such as competition rules from Vietnam and procurement rules from
Malaysia are also still negotiation hurdles.
•
Indonesia has stated a growing interest in the TPP, but has said that it still
needs time to reform its economy and build its “supply side capacity” (also,
Indonesia, which so far has not joined TPP talks, currently would unlikely be able
to meet many of the standards and free trade rules set down in the TPP).
•
It is interesting to see how Malaysia’s position on the “wide and deep” TPP in
some ways mirrors Indonesia’s on aspects of the RCEP. This reminds us that, in
any regional trade agreement, not all countries are at the same level of
development and each has specific concerns, which is why they are nervous. It
is within this reasoning that Indonesia wants success at the WTO Bali talks; the
WTO sets the world trade baseline.
•
Whether the TPP agreement is really “on track” for the end of this year remains
uncertain…
26. SOME (SMALL) PROGRESS ON THE NEXT
WTO ROUND
•
A Commitment to make progress in the upcoming WTO Doha Free Trade Talks (better than no
commitment). APEC may give the WTO a lifeline…
•
APEC trade ministers expressed hope of achieving a “trade facilitation small package” for the
9th WTO “Doha Round” Ministerial Conference talks, to be held in Bali in December. This will
consist of trade facilitation, and some breakthroughs on elements of agriculture and food.
The three main components include:
- trade facilitation
- food security
- the development dimension
•
Indonesia is talking up the idea that this will be a limited “Bali Package”, but nonetheless, an
agreement.
•
Restoring credibility to the WTO is a must for it to remain relevant. Multilateral trade institutions
and agreements are becoming increasingly overshadowed by regional and bilateral
agreements of “willing partner nations”.
28. INTERPLAY OF TRADE AGREEMENTS
• There is a mounting interplay between
bilateral, regional, and global multilateral
trade agreements.
• From the ACFTA*, RCEP, TPP, and the next
WTO meeting – agreements are increasingly
overlapping and interwoven. We are also
seeing a real increase in trade agreements
being used as vehicles for regional influence
– i.e. US vs. China.
TPP
RCEP
• Arguably, APEC itself is yet another
intersecting trade focused forum that also
overlaps/complements the WTO.
*ASEAN-China Free Trade Area (ACFTA
Regional Comprehensive Economic Partnership (RCEP)
Trans-Pacific Partnership (TPP)
World Trade Organization (WTO)
WTO
29. NATIONS ON FORM
LATIN AMERICA AS A DRIVING GLOBAL
FORCE
• This APEC showed that it is not just an
Asia-US focused forum.
• Latin American countries are very
engaged and leading from the front.
Mexico and Chile were big vocal forces,
driving agreements on free trade.
• Both countries however are reliant on
strong leaders, who project their nations
influence. For example, will President
Piñera’s (President of Chile) successor be
as effective on the world stage?
A RESURGENT JAPAN
• Japan’s PM Shinzo Abe was on superb
form at APEC. He described himself as a
“drill bit” fixed on reform and breaking
up encrusted anti-competitive
regulations. The Japan he espoused was
a more open and invigorated nation,
ready to give way on some longstanding
protectionist measures. Abe gave one of
the strongest APEC performances.
• A Japanese Minister also demonstrated
Japan’s strong backing for the TPP,
stating that he viewed the trade deal as
the “fourth arrow” in Abe’s bid to
breathe new life into the previously
stagnant Japanese economy, through his
set of “Abenomics” policies.
SINGAPORE: CONTINUING TO PUNCH
ABOVE ITS WEIGHT
• Despite being a small city-state,
Singapore was another leading player at
this year’s APEC.
• Singapore’s PM Lee Hsien Loong spoke
strongly about the need for countries to
push for free trade, open markets and
resist protectionism, but was also frank
in stating that while many businesses
may push for free trade publicly, they
privately lobby for protectionist
measures in their home markets. Lee
said the test of government was to resist
these calls.
• Singapore’s influence is multiplied by
having a set of very bright, able and
vocal leaders. It is perceived as an
honest broker within the international
arena.
*Counting Abe’s Arrows: Japanese Prime Minister was elected on a platform of three arrows to boost Japan’s economy: a $110 billion stimulus package; a new inflation Central Bank 2% inflation target ,to
combat deflation and structural and regulatory reforms. Some people regard the recently-announced doubling of consumption tax to be a ‘fourth arrow’, but technically it is part of arrow one.
30. APEC’S CONTINUED IMPORTANCE
• APEC continues to play an important role as a
forum for economic discussion, strategy and
direction.
• It brings many people to the tent; this is an
achievement in itself. Talking shops play a
valuable role in building consensus; consensus
building takes time. Free trade agreements
don’t just happen.
• APEC has also lent the next global WTO free
trade talks a lifeline. A small focused “Bali
package” is better than the potential WTO void
that was expected pre-APEC. Disaster averted?
We will see…