This summary provides the key details from the document in 3 sentences:
The document discusses the history and formation of the Asian Pacific Economic Cooperation (APEC) organization, which was established in 1989 to promote economic growth, cooperation, trade, and investment across countries in the Asia-Pacific region. APEC aims to achieve free and open trade and investment between member economies by 2010 for developed countries and 2020 for developing countries. The document analyzes APEC's strategic goals and dimensions of economic cooperation among its 21 member countries, which collectively account for approximately half of global GDP and trade.
This document provides an introduction and table of contents for a research paper examining Kenya's national and regional interests with regards to conflict in the Horn of Africa region. The introduction provides background on Kenya's geography, demographics, and history. It establishes that Kenya has traditionally been one of the most stable countries in the unstable Horn of Africa region, but its 2007 election violence demonstrated it is not immune to conflict. The research will analyze how conflict in neighboring countries like Somalia, Ethiopia, Eritrea and Sudan has impacted Kenya's security and shaped its foreign policy goals of pursuing cooperation, supporting liberation movements, and attracting foreign investment for economic growth. The table of contents outlines that subsequent chapters will provide historical context on conflicts in the Horn,
Foreign aid dependency in third world countries its pros and consKhemraj Subedi
This document discusses the pros and cons of foreign aid dependency among third world countries. It notes that while foreign aid was initially meant to fill investment gaps, it has led to long-term dependency as donors impose conditions that prioritize their own interests over recipients'. The document outlines the historical development of foreign aid since World War 2 and debates between modernization theorists, who see aid as enabling capital diffusion, and dependency theorists, who argue aid fosters underdevelopment by inhibiting self-sustaining growth. Overall, it concludes that while aid was intended to accelerate development, most recipient countries have failed to develop autonomously and have become burdened by debt due to conditions attached to loans.
Advantages and disadvantes of foreign aid to developmentBaseera Hashmi
There is no doubt that today’s world is more affluent and has more advanced technology than ever before ,however, there are famine, pollution, water shortages and development problems in dozens of countries. In that case, many countries and organizations are supplying aid and supporting undeveloped countries. Ordinary people who live in rich countries also have greater awareness of helping their infrastructural development. Food, technological, educational aids have become an accepted policy of advanced countries to assist in furthering the development of the human and material resources of poor countries.
Unfortunately, problems were misdiagnosed or not foreseen. It is no good taking over the aid of foreign countries uncritically. Moreover, foreign aid would make undeveloped countries lose their economy, market and other area’s independence. At the same time, as a kind of political exchange, undeveloped countries have to obey new rules which created by developed countries and further to be vassal states again. Nowadays, most countries in the world have not finished the progress of being industrialized.
The political, security, and economic environments surrounding Japan have been changing very rapidly since Prime Minister Kan took office. During his talk, to be followed by a discussion with the audience, Shikata-san will seek to answer several key questions: What are the salient features of current Japanese diplomatic, security and economic policies in the Asia Pacific region? What are the possible directions that Japan can take given the current and prospective regional landscape? What the the implications of TPP (Trans Pacific Partnership) for Japan? What are the implications of TPP (Trans Pacific Partnership) for Japan?
Presentation Pakistan Regional Apparatus; Challenges & ResponseShahid Hussain Raja
The prime objective of a state is to improve the quality of life of its citizens. For this, the state formulates a comprehensive set of interdependent policies.
Foreign policy is one such policy formulated to achieve the above objectives by utilising the foreign relations of a country
This presentation attempts to explain foreign policy challenges of Pakistan in its rapidly changing regional apparatus and how to respond to them
Kindly do read Part 1 & 2 of this series for acquainting yourself with the basic concepts of foreign policy and history of foreign relations of Pakistan
Japan has a highly developed economy that is the third largest in the world, with major industries in manufacturing, services, and exports of machinery, electronics, and motor vehicles. However, Japan faces challenges of an aging population with low birth rates, dependence on imported raw materials, and risks from natural disasters like earthquakes and tsunamis. Overall though, Japan has demonstrated resilience through economic reforms and maintaining a highly skilled workforce.
This document provides an introduction and table of contents for a research paper examining Kenya's national and regional interests with regards to conflict in the Horn of Africa region. The introduction provides background on Kenya's geography, demographics, and history. It establishes that Kenya has traditionally been one of the most stable countries in the unstable Horn of Africa region, but its 2007 election violence demonstrated it is not immune to conflict. The research will analyze how conflict in neighboring countries like Somalia, Ethiopia, Eritrea and Sudan has impacted Kenya's security and shaped its foreign policy goals of pursuing cooperation, supporting liberation movements, and attracting foreign investment for economic growth. The table of contents outlines that subsequent chapters will provide historical context on conflicts in the Horn,
Foreign aid dependency in third world countries its pros and consKhemraj Subedi
This document discusses the pros and cons of foreign aid dependency among third world countries. It notes that while foreign aid was initially meant to fill investment gaps, it has led to long-term dependency as donors impose conditions that prioritize their own interests over recipients'. The document outlines the historical development of foreign aid since World War 2 and debates between modernization theorists, who see aid as enabling capital diffusion, and dependency theorists, who argue aid fosters underdevelopment by inhibiting self-sustaining growth. Overall, it concludes that while aid was intended to accelerate development, most recipient countries have failed to develop autonomously and have become burdened by debt due to conditions attached to loans.
Advantages and disadvantes of foreign aid to developmentBaseera Hashmi
There is no doubt that today’s world is more affluent and has more advanced technology than ever before ,however, there are famine, pollution, water shortages and development problems in dozens of countries. In that case, many countries and organizations are supplying aid and supporting undeveloped countries. Ordinary people who live in rich countries also have greater awareness of helping their infrastructural development. Food, technological, educational aids have become an accepted policy of advanced countries to assist in furthering the development of the human and material resources of poor countries.
Unfortunately, problems were misdiagnosed or not foreseen. It is no good taking over the aid of foreign countries uncritically. Moreover, foreign aid would make undeveloped countries lose their economy, market and other area’s independence. At the same time, as a kind of political exchange, undeveloped countries have to obey new rules which created by developed countries and further to be vassal states again. Nowadays, most countries in the world have not finished the progress of being industrialized.
The political, security, and economic environments surrounding Japan have been changing very rapidly since Prime Minister Kan took office. During his talk, to be followed by a discussion with the audience, Shikata-san will seek to answer several key questions: What are the salient features of current Japanese diplomatic, security and economic policies in the Asia Pacific region? What are the possible directions that Japan can take given the current and prospective regional landscape? What the the implications of TPP (Trans Pacific Partnership) for Japan? What are the implications of TPP (Trans Pacific Partnership) for Japan?
Presentation Pakistan Regional Apparatus; Challenges & ResponseShahid Hussain Raja
The prime objective of a state is to improve the quality of life of its citizens. For this, the state formulates a comprehensive set of interdependent policies.
Foreign policy is one such policy formulated to achieve the above objectives by utilising the foreign relations of a country
This presentation attempts to explain foreign policy challenges of Pakistan in its rapidly changing regional apparatus and how to respond to them
Kindly do read Part 1 & 2 of this series for acquainting yourself with the basic concepts of foreign policy and history of foreign relations of Pakistan
Japan has a highly developed economy that is the third largest in the world, with major industries in manufacturing, services, and exports of machinery, electronics, and motor vehicles. However, Japan faces challenges of an aging population with low birth rates, dependence on imported raw materials, and risks from natural disasters like earthquakes and tsunamis. Overall though, Japan has demonstrated resilience through economic reforms and maintaining a highly skilled workforce.
Core peripheries in south korea author’s nameinstitutional AISHA232980
The document discusses core-periphery relationships in South Korea by analyzing maps that depict regional development patterns. Five maps are described showing population density, urbanization trends, and transportation infrastructure to justify delimiting Seoul and surrounding areas as the core, with less populated peripheral regions dependent on the core economically. Reasons for the core's success include government investment and industrial policies that boosted sectors like chemicals and manufacturing. The peripheries lagged due to weaker economies and political influence. Future prospects discussed include potential threats from unequal development and opportunities from investment programs aimed at peripheral regions.
1) Japan experienced rapid economic growth following World War 2, described as an economic "miracle".
2) The economy slowed in the 1990s, entering a period known as the "Lost Decade" with declining stock and land prices causing financial crisis.
3) Recent economic growth has been slow with setbacks from the 2011 tsunami and earthquake, though reconstruction efforts provide some boost to demand.
CHINA-AFRICA TRADE AND INVESTMENT RELATIONS: DEVELOPMENT PARTNERSHIP OR NEW C...ECTIJ
The unprecedented pace of growth of China-Africa trade and investment relationship in the last two decades has attracted greater intellectual curiosity among social scientists. In 2001, the annual trade volume between the two was estimated to be US$ 10 Billion. This figure has astonishingly increased to US$ 215 Billion by 2016. This growing relationship has been characterised by scholars under three approaches. The first one sees China as a true development partner of Africa. The second approach is that China is an economic competitor of the West in Africa with the ultimate objective of having its own share in exploiting the natural resources of the continent. The third approach is an extreme position of characterizing the engagement as a new colonialism. The paper concludes that China should be seen as a true development partner as opposed to the claims of exploitation and colonization.
The document is an introduction to the author's thesis on the economic policy of the World Bank in Egypt from 2000-2010. It provides background on the World Bank, including its official mission to fight poverty through financial and technical assistance. It also discusses the Bank's historical background, voting power structure, structural adjustment programs, and reforms over time. The introduction presents the author's hypothesis that the World Bank's role in Egypt is conditioned by international and regional political situations as well as its own policymaking processes, and poses several research questions to examine potential political impacts of the Bank's economic policy and operations in Egypt during the specified time period.
CHINA-AFRICA TRADE AND INVESTMENT RELATIONS: DEVELOPMENT PARTNERSHIP OR NEW C...ECTIJ
The unprecedented pace of growth of China-Africa trade and investment relationship in the last two decades has attracted greater intellectual curiosity among social scientists. In 2001, the annual trade volume between the two was estimated to be US$ 10 Billion. This figure has astonishingly increased to US$ 215 Billion by 2016. This growing relationship has been characterised by scholars under three approaches. The first one sees China as a true development partner of Africa. The second approach is that China is an economic competitor of the West in Africa with the ultimate objective of having its own share in exploiting the natural resources of the continent. The third approach is an extreme position of characterizing the engagement as a new colonialism. The paper concludes that China should be seen as a true development partner as opposed to the claims of exploitation and colonization.
The New Development Bank (NDB), formerly known as the BRICS Development Bank, is a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China, and South Africa). The bank is headquartered in Shanghai, China and each participating country holds equal shares and voting rights. The bank aims to provide financing for infrastructure and sustainable development projects in BRICS and other developing nations.
Regime wise analysis of debt in Pakistan 2013Mehvish Raouf
Military regimes in Pakistan generally pursued policies that strengthened the macroeconomic environment and reduced debt levels through high economic growth rates and foreign assistance. In contrast, democratic regimes struggled with political instability, poor governance, and increasing debt burdens. Currently, Pakistan's public debt exceeds 90% of GDP and the government relies on loans from the IMF and other international organizations to repay debt obligations.
This document provides a comparative analysis of Japan and Australia across various metrics including geography, demographics, economy, politics, culture and foreign relations. It analyzes each country using PEST analysis and Hofstede's cultural dimensions. Strengths and weaknesses are identified for both countries. Recent news highlights growing military cooperation between Japan and Australia while also noting ongoing issues around whaling.
The Role of the Nigerian State in the Socio-Political Conflict in the Niger-D...inventionjournals
The Nigerian state has been affected by several conflicts socially and politically. The leadership have made promises which were not kept and they have not shown the political will to tackle the conflicts in the country. Hence, the Odua People Congress in the South West, the Boko Haram in the North East and the Niger Delta Militia in the South South of Nigeria respectively. This work focuses on the Niger Delta Conflict which has caused havoc in the country recently. The justification of this work is to attempt to look at the actions and inactions of the leadership of the country which have fueled these conflicts and proffer recommendations to remedy the situation. Expofacto theory was adopted to established the role of the Nigerian state in these conflicts using historical/descriptive and prescriptive approaches. The findings are that; government has not provided employment for the youths, has not clean the polluted environment, misappropriation of compensations, divide and rule policy, lack of consensus among the ruling class as regards the interest of the citizens. Recommendations: Deprivation in the region should be tackle, provide employment for youths, clean the polluted environment, discountenance force and use peaceful means to settle conflicts etc
Presentation for the Japan International Cooperation Agency (JICA) tailored to a delegation from the Papua New Guinea education ministry visiting western Japan for technical training subsidized by the Japanese government. Focus on Japanese people, society, economics, energy and other issues.
The World Bank was created at the Bretton Woods Conference in 1944 to provide loans for post-war reconstruction and development projects around the world. It is governed by a Board of Governors and Executive Directors and has expanded its focus beyond reconstruction to also promote infrastructure development, strengthen financial systems, and reduce poverty in developing nations through loans and programs. However, the World Bank's policies and influence have also been criticized by non-governmental organizations and intellectuals.
The document discusses regional economic integration agreements and provides information about BRICS (Brazil, Russia, India, China, South Africa). It outlines the formation and focus of the BRICS Forum, including establishing a development bank and addressing issues like poverty, healthcare, and infrastructure. It also provides economic overviews and statistics for each BRICS country, mentions potential new members, challenges faced by BRICS, and concludes that BRICS markets are well positioned for long-term growth despite short-term uncertainties.
The document discusses the roles of various United Nations organizations and the World Bank in promoting good governance. It notes that the UNDP supports democratic transitions by providing policy advice, technical support, and capacity building. The UNDEF supports projects that strengthen civil society and democratic participation. UNPAN facilitates information exchange between public administration institutions to improve governance. The World Bank lends funds to developing countries for infrastructure and programs to reduce poverty, and has provided Bangladesh with loans totaling $12.5 billion since 1970 to shape institutions and policies.
Jim O'Neill coined the term BRICs in 2001 to refer to the emerging economies of Brazil, Russia, India, and China that were predicted to overtake Western economies. The BRICs have experienced significant growth over the past decade, with each becoming one of the top ten economies in the world. O'Neill discusses how the growth market concept at Goldman Sachs recognizes that traditional labels of "developed" and "emerging" no longer reflect the global economy, with countries like the BRICs playing increasingly important economic roles. He also introduces the concept of the "Next 11" countries that could have growth trajectories similar to the BRICs. The document focuses on India specifically, noting its large population, resource wealth
The document examines the role and function of regional economic blocs and trade arrangements in forming an Islamic Common Market. It begins with providing conceptual background on regional economic groupings, discussing their potential benefits which include larger markets, specialization, and economic growth. It then evaluates existing regional groupings among OIC countries, including the Arab Maghreb Union, Council of Arab Economic Unity, Gulf Cooperation Council, and Economic Cooperation Organization. The document concludes by discussing how regional blocs and arrangements could contribute to an Islamic Common Market.
The document summarizes the economic growth in the 2000s, the emergence of macroeconomic imbalances, and the causes and effects of the global financial crisis that began in 2007-2008. It notes that strong economic growth in the 2000s was driven by exports and investment in developing economies. However, imbalances emerged as some countries ran large trade surpluses while others had large deficits, including the US. The crisis had its roots in the US housing bubble and subprime mortgage crisis but spread globally due to interconnected financial markets and a decline in trade. The crisis led to a drop in global output and rise in unemployment worldwide.
This article aims to show how 3 countries in Asia (Japan, South Korea and China) have promoted their development and thus to demonstrate the absurd neoliberal economic policy of Michel Temer government in Brazil that seeks to limit public spending over the next 20 years to create the economic environment necessary for attracting private investors and, consequently, boost economic and social development of Brazil. In practice, Temer government believes that private market forces are more capable than the developmental role that his government could make to boost the Brazilian economy. The economic policy of the Temer government is diametrically opposed to those adopted by Japan, South Korea and China that have in the state key role in the development of these countries in the second half of the 20th century.
Chinese economic activities and interests in developing countries have rapidly increased since China's economic reforms in 1978. Chinese firms are now actively investing in Latin America and Africa, challenging American and European companies. This paper examines China's role and interests in developing countries, why it prefers to invest in these regions, and the effects of Chinese economic activities in Latin America and Africa. It finds that China pursues its national interests in developing countries, such as natural resources, to fuel its own economy. While Chinese investment has benefits such as infrastructure development, it is also motivated by accessing resources rather than political solidarity. Chinese firms have also been more successful than Western firms in some developing countries due to their non-interventionist approach and unconditional economic operations.
Emerging powers in global covernance eu parnership with the un system in deve...Dr Lendy Spires
The document summarizes the development of the EU-UN partnership in development and humanitarian cooperation. It discusses how their partnership was described as "natural" due to shared values, objectives, and responsibilities regarding issues like the Millennium Development Goals. The partnership covers a wide range of issues from governance to emergency relief. However, the document notes that the EU's development policies and relationship with the UN developed strategically over time, rather than the EU simply accepting existing frameworks.
The document discusses the impact of ASEAN (Association of Southeast Asian Nations) on its member economies. Key points:
1) ASEAN was formed in 1967 to promote peace, security, and economic growth in Southeast Asia. It has 10 member countries and a combined population and GDP of over 500 million people and $700 billion respectively.
2) ASEAN has achieved rapid economic growth among its members averaging 7% GDP growth from 1970-1995. Intra-ASEAN trade has also increased significantly over this period.
3) However, disparities still exist between member states in terms of GDP per capita, health, and productivity. Full integration remains a work in progress with ongoing challenges.
Core peripheries in south korea author’s nameinstitutional AISHA232980
The document discusses core-periphery relationships in South Korea by analyzing maps that depict regional development patterns. Five maps are described showing population density, urbanization trends, and transportation infrastructure to justify delimiting Seoul and surrounding areas as the core, with less populated peripheral regions dependent on the core economically. Reasons for the core's success include government investment and industrial policies that boosted sectors like chemicals and manufacturing. The peripheries lagged due to weaker economies and political influence. Future prospects discussed include potential threats from unequal development and opportunities from investment programs aimed at peripheral regions.
1) Japan experienced rapid economic growth following World War 2, described as an economic "miracle".
2) The economy slowed in the 1990s, entering a period known as the "Lost Decade" with declining stock and land prices causing financial crisis.
3) Recent economic growth has been slow with setbacks from the 2011 tsunami and earthquake, though reconstruction efforts provide some boost to demand.
CHINA-AFRICA TRADE AND INVESTMENT RELATIONS: DEVELOPMENT PARTNERSHIP OR NEW C...ECTIJ
The unprecedented pace of growth of China-Africa trade and investment relationship in the last two decades has attracted greater intellectual curiosity among social scientists. In 2001, the annual trade volume between the two was estimated to be US$ 10 Billion. This figure has astonishingly increased to US$ 215 Billion by 2016. This growing relationship has been characterised by scholars under three approaches. The first one sees China as a true development partner of Africa. The second approach is that China is an economic competitor of the West in Africa with the ultimate objective of having its own share in exploiting the natural resources of the continent. The third approach is an extreme position of characterizing the engagement as a new colonialism. The paper concludes that China should be seen as a true development partner as opposed to the claims of exploitation and colonization.
The document is an introduction to the author's thesis on the economic policy of the World Bank in Egypt from 2000-2010. It provides background on the World Bank, including its official mission to fight poverty through financial and technical assistance. It also discusses the Bank's historical background, voting power structure, structural adjustment programs, and reforms over time. The introduction presents the author's hypothesis that the World Bank's role in Egypt is conditioned by international and regional political situations as well as its own policymaking processes, and poses several research questions to examine potential political impacts of the Bank's economic policy and operations in Egypt during the specified time period.
CHINA-AFRICA TRADE AND INVESTMENT RELATIONS: DEVELOPMENT PARTNERSHIP OR NEW C...ECTIJ
The unprecedented pace of growth of China-Africa trade and investment relationship in the last two decades has attracted greater intellectual curiosity among social scientists. In 2001, the annual trade volume between the two was estimated to be US$ 10 Billion. This figure has astonishingly increased to US$ 215 Billion by 2016. This growing relationship has been characterised by scholars under three approaches. The first one sees China as a true development partner of Africa. The second approach is that China is an economic competitor of the West in Africa with the ultimate objective of having its own share in exploiting the natural resources of the continent. The third approach is an extreme position of characterizing the engagement as a new colonialism. The paper concludes that China should be seen as a true development partner as opposed to the claims of exploitation and colonization.
The New Development Bank (NDB), formerly known as the BRICS Development Bank, is a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China, and South Africa). The bank is headquartered in Shanghai, China and each participating country holds equal shares and voting rights. The bank aims to provide financing for infrastructure and sustainable development projects in BRICS and other developing nations.
Regime wise analysis of debt in Pakistan 2013Mehvish Raouf
Military regimes in Pakistan generally pursued policies that strengthened the macroeconomic environment and reduced debt levels through high economic growth rates and foreign assistance. In contrast, democratic regimes struggled with political instability, poor governance, and increasing debt burdens. Currently, Pakistan's public debt exceeds 90% of GDP and the government relies on loans from the IMF and other international organizations to repay debt obligations.
This document provides a comparative analysis of Japan and Australia across various metrics including geography, demographics, economy, politics, culture and foreign relations. It analyzes each country using PEST analysis and Hofstede's cultural dimensions. Strengths and weaknesses are identified for both countries. Recent news highlights growing military cooperation between Japan and Australia while also noting ongoing issues around whaling.
The Role of the Nigerian State in the Socio-Political Conflict in the Niger-D...inventionjournals
The Nigerian state has been affected by several conflicts socially and politically. The leadership have made promises which were not kept and they have not shown the political will to tackle the conflicts in the country. Hence, the Odua People Congress in the South West, the Boko Haram in the North East and the Niger Delta Militia in the South South of Nigeria respectively. This work focuses on the Niger Delta Conflict which has caused havoc in the country recently. The justification of this work is to attempt to look at the actions and inactions of the leadership of the country which have fueled these conflicts and proffer recommendations to remedy the situation. Expofacto theory was adopted to established the role of the Nigerian state in these conflicts using historical/descriptive and prescriptive approaches. The findings are that; government has not provided employment for the youths, has not clean the polluted environment, misappropriation of compensations, divide and rule policy, lack of consensus among the ruling class as regards the interest of the citizens. Recommendations: Deprivation in the region should be tackle, provide employment for youths, clean the polluted environment, discountenance force and use peaceful means to settle conflicts etc
Presentation for the Japan International Cooperation Agency (JICA) tailored to a delegation from the Papua New Guinea education ministry visiting western Japan for technical training subsidized by the Japanese government. Focus on Japanese people, society, economics, energy and other issues.
The World Bank was created at the Bretton Woods Conference in 1944 to provide loans for post-war reconstruction and development projects around the world. It is governed by a Board of Governors and Executive Directors and has expanded its focus beyond reconstruction to also promote infrastructure development, strengthen financial systems, and reduce poverty in developing nations through loans and programs. However, the World Bank's policies and influence have also been criticized by non-governmental organizations and intellectuals.
The document discusses regional economic integration agreements and provides information about BRICS (Brazil, Russia, India, China, South Africa). It outlines the formation and focus of the BRICS Forum, including establishing a development bank and addressing issues like poverty, healthcare, and infrastructure. It also provides economic overviews and statistics for each BRICS country, mentions potential new members, challenges faced by BRICS, and concludes that BRICS markets are well positioned for long-term growth despite short-term uncertainties.
The document discusses the roles of various United Nations organizations and the World Bank in promoting good governance. It notes that the UNDP supports democratic transitions by providing policy advice, technical support, and capacity building. The UNDEF supports projects that strengthen civil society and democratic participation. UNPAN facilitates information exchange between public administration institutions to improve governance. The World Bank lends funds to developing countries for infrastructure and programs to reduce poverty, and has provided Bangladesh with loans totaling $12.5 billion since 1970 to shape institutions and policies.
Jim O'Neill coined the term BRICs in 2001 to refer to the emerging economies of Brazil, Russia, India, and China that were predicted to overtake Western economies. The BRICs have experienced significant growth over the past decade, with each becoming one of the top ten economies in the world. O'Neill discusses how the growth market concept at Goldman Sachs recognizes that traditional labels of "developed" and "emerging" no longer reflect the global economy, with countries like the BRICs playing increasingly important economic roles. He also introduces the concept of the "Next 11" countries that could have growth trajectories similar to the BRICs. The document focuses on India specifically, noting its large population, resource wealth
The document examines the role and function of regional economic blocs and trade arrangements in forming an Islamic Common Market. It begins with providing conceptual background on regional economic groupings, discussing their potential benefits which include larger markets, specialization, and economic growth. It then evaluates existing regional groupings among OIC countries, including the Arab Maghreb Union, Council of Arab Economic Unity, Gulf Cooperation Council, and Economic Cooperation Organization. The document concludes by discussing how regional blocs and arrangements could contribute to an Islamic Common Market.
The document summarizes the economic growth in the 2000s, the emergence of macroeconomic imbalances, and the causes and effects of the global financial crisis that began in 2007-2008. It notes that strong economic growth in the 2000s was driven by exports and investment in developing economies. However, imbalances emerged as some countries ran large trade surpluses while others had large deficits, including the US. The crisis had its roots in the US housing bubble and subprime mortgage crisis but spread globally due to interconnected financial markets and a decline in trade. The crisis led to a drop in global output and rise in unemployment worldwide.
This article aims to show how 3 countries in Asia (Japan, South Korea and China) have promoted their development and thus to demonstrate the absurd neoliberal economic policy of Michel Temer government in Brazil that seeks to limit public spending over the next 20 years to create the economic environment necessary for attracting private investors and, consequently, boost economic and social development of Brazil. In practice, Temer government believes that private market forces are more capable than the developmental role that his government could make to boost the Brazilian economy. The economic policy of the Temer government is diametrically opposed to those adopted by Japan, South Korea and China that have in the state key role in the development of these countries in the second half of the 20th century.
Chinese economic activities and interests in developing countries have rapidly increased since China's economic reforms in 1978. Chinese firms are now actively investing in Latin America and Africa, challenging American and European companies. This paper examines China's role and interests in developing countries, why it prefers to invest in these regions, and the effects of Chinese economic activities in Latin America and Africa. It finds that China pursues its national interests in developing countries, such as natural resources, to fuel its own economy. While Chinese investment has benefits such as infrastructure development, it is also motivated by accessing resources rather than political solidarity. Chinese firms have also been more successful than Western firms in some developing countries due to their non-interventionist approach and unconditional economic operations.
Emerging powers in global covernance eu parnership with the un system in deve...Dr Lendy Spires
The document summarizes the development of the EU-UN partnership in development and humanitarian cooperation. It discusses how their partnership was described as "natural" due to shared values, objectives, and responsibilities regarding issues like the Millennium Development Goals. The partnership covers a wide range of issues from governance to emergency relief. However, the document notes that the EU's development policies and relationship with the UN developed strategically over time, rather than the EU simply accepting existing frameworks.
The document discusses the impact of ASEAN (Association of Southeast Asian Nations) on its member economies. Key points:
1) ASEAN was formed in 1967 to promote peace, security, and economic growth in Southeast Asia. It has 10 member countries and a combined population and GDP of over 500 million people and $700 billion respectively.
2) ASEAN has achieved rapid economic growth among its members averaging 7% GDP growth from 1970-1995. Intra-ASEAN trade has also increased significantly over this period.
3) However, disparities still exist between member states in terms of GDP per capita, health, and productivity. Full integration remains a work in progress with ongoing challenges.
7 forum responses 250 words each see description please.pdfstudy help
1) The formation of ASEAN in 1967 promoted regional peace, social/cultural development, and economic growth among Southeast Asian nations. ASEAN has 10 member countries and has been largely successful in maintaining peace between members.
2) ASEAN has established various bodies like the ASEAN Security Community and ASEAN Regional Forum to facilitate cooperation on security issues. It has also promoted economic integration through agreements like AFTA.
3) However, globalization has also introduced challenges for ASEAN. China's actions in the South China Sea have increased tensions with some ASEAN members like Vietnam and the Philippines. Globalization also impacts domestic economies, as manufacturing jobs move to developing countries with cheaper labor.
Institutional Aspect of Economic Integration in the European Union and ASEAN:...inventionjournals
The European Union (EU), a leading regional political organisation of today, started with economic integration and was known as European Economic Community (EEC). Later, this (EEC) triggered political unity and formed the very centre of EU. The Association of Southeast Asian Nations (ASEAN) came into being in 1969 with the objective of economic, political and socio-cultural unity. Under Malaysian Chairmanship, the economic community came into being in December, 2015. This study makes a brief overview of the institutional aspect of these two regional organisations to spot their comparative features of legal harmonisation meant for economic integration. It underlines the importance of an ASEAN court for consistent constitutional and legal interpretation. Students and scholars of comparative economic integration would find this work relevant for further research.
powerpoint presentation about asian regioonalismrezeraaisla
1. The document discusses globalization and regionalization in Asia, comparing factors that have led countries like China, Japan, and Singapore to integrate with the global and regional economies.
2. It notes that Asia has the largest population in the world and many emerging economies are growing rapidly, led by China as the world's largest exporter.
3. Countries in Asia are confronting challenges of globalization and regionalization through various policies and economic partnerships like ASEAN, which aims to foster greater cooperation and address issues like financial crises.
Political Economy of Multilateral Economic Cooperation and Third World Develo...inventionjournals
This paper undertook a longitudinal study of the evolution of international cooperation for the development of the Third World in the context of the Lome Conventions and their successors and the implications for Nigeria as a country. Based on a survey of the extant literature on the subject, the paper discovered the long duration of the close cooperation between the two partners did not offset the incapacity of the relationship to impact positively on the economic status of the ACP States that have been adjudged to have remained underdeveloped, stagnated and engrossed in poverty, in spite of the frequent changes in the cooperation instruments, the duration of the various Conventions and the continuous expansion of the cooperation partners on both sides. The paper came to the conclusion that the failure of this instance of NorthSouth cooperation to leverage Nigeria’s economic development and the transition to regionally based Economic Partnership Agreements (EPAs) has had very deleterious impact on Nigeria’s regional and South/South cooperation by destroying a major convergence zone of Nigeria’s foreign policy which used to be centered around the Lome Convention. The major recommendation of the paper is that unless the new ECOWAS-EU Economic Partnership Agreement (EPA) is revised to the satisfaction of relevant Nigerian Stake-holders, namely the Manufacturers Association of Nigeria (MAN), it should be repudiated.
ASEAN was founded in 1967 in Bangkok, Thailand by Indonesia, Malaysia, Philippines, Singapore and Thailand. It aims to accelerate economic growth, social progress and cultural development in Southeast Asia through cooperation. ASEAN has expanded over the years to include 10 member countries. It works to promote regional peace and stability through international law and principles of the UN Charter. ASEAN also promotes collaboration in economic, social, cultural, technical and administrative fields between member countries.
Economic Integration and Regional Trade in West Africa, 2010 – 2018ijtsrd
The paper on Economic Integration and Regional Trade in West Africa sought primarily to examine the circumstances surrounding the implementation of economic integration strategy in West Africa. This was necessary because there has been no recorded trade growth and development across the sub region from the time of signing of economic integration treaty to date. The study was an chore d on secondary sources of data collections. Content analysis was employed in analyzing the data collected. The theoretical framework employed was the Absolute Advantage theory propounded by Adam Smith in his 1776 book entitled “The Wealth of Nations” in which he countered mercantilist ideas on trade. The theory seeks to show how countries can gain from trade by specialising in producing and exporting the goods that they can produce more efficiently than other countries.It was found that the strategy still existed in form till today as impediments to trade still loomed and are yet to be eradicated. The study recommended a clear commitment of leadership towards unrestricted movement, functional infrastructure and domination fear among member countries. It was concluded that member countries should not be complacent but thrive on cooperating and embracing economic integration strategy as a platform to common economic and trade liberalisation, growth and development in West Africa. Neebani, Emmanuel Nubari Bariyoneto "Economic Integration and Regional Trade in West Africa, 2010 – 2018" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-1 , December 2020, URL: https://www.ijtsrd.com/papers/ijtsrd35888.pdf Paper URL : https://www.ijtsrd.com/humanities-and-the-arts/political-science/35888/economic-integration-and-regional-trade-in-west-africa-2010-– -2018/neebani-emmanuel-nubari-bariyoneto
This document discusses globalization, liberalization, and agrarian distress in India that has contributed to increasing farmer suicides. It outlines how India began liberalizing its economy in 1991 through structural adjustment programs encouraged by international financial institutions. While the government claims reforms have helped development, facts from rural India show a deep crisis in the agrarian sector. Farmers face increasing insecurity and vulnerability due to reforms. The document analyzes how economic conditions during the reform phase have created conditions for farmer suicides across India.
ASEAN was established in 1967 to promote economic growth, social progress, and cultural development among its members. It currently has 10 member states located in Southeast Asia. Key objectives include accelerating economic growth, promoting regional peace and stability, and providing assistance between members. ASEAN has been successful in maintaining regional peace and security, establishing frameworks for economic integration, and becoming an influential voice in global and regional affairs.
The Association of Southeast Asian Nations(ASEAN) is a regional intergovernmental organization comprising ten countries in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.
Motto:- "One Vision, One Identity, One Community"
The document discusses the global interstate system and how it addresses issues beyond the scope of individual nation-states. It defines an interstate system as a system of competing states with no single dominant power, as described by Chase-Dunn. As the world becomes more interconnected through globalization, the role of governments is shifting and policies are influenced by international factors. Examples given are the Montreal Protocol, which aims to phase out ozone-depleting substances, and how globalization can negatively impact local communities. The document also outlines several international institutions that govern relations between countries, such as the UN, World Bank, IMF, WTO, and others. It concludes by differentiating globalism, which focuses on free flow of trade and
1) The document discusses security issues in Southeast Asia, including internal instability from armed insurrections, international crime, and border disputes between countries in the region and China.
2) It provides background on ASEAN, a regional organization founded in 1967 to promote cooperation and integration between Southeast Asian countries.
3) It analyzes ASEAN's role and challenges in the current geopolitical context, as Asian powers like China rise and the world becomes more multipolar, presenting both opportunities and threats to stability in Southeast Asia.
Regionalism in Asia is growing as countries respond to challenges of globalization. The Association of Southeast Asian Nations (ASEAN) promotes regional cooperation and integration across economic, political, and socio-cultural issues. ASEAN has 10 member countries and seeks to accelerate economic growth, social progress, and cultural development through joint efforts while also promoting regional peace and stability. Factors like increased dialogue, expanding trade and investment, and greater connectivity have contributed to Asian integration.
The document discusses regionalism and regionalization. It defines regions as groups of countries located in the same geographic area and explains that regionalism refers to political and economic cooperation between countries in a region, while regionalization is the concentration of economic flows within a region. The document then examines factors that lead countries to form regional organizations like military defense, economic interests, and responding to crises. It also discusses non-state regionalism by non-government organizations and issues they address.
In the aftermath of World War II, the world witnessed the birth of a new era of international cooperation and financial support. Allied financingemerged to rebuild war-torn nations, foster economic stability, and lay the foundation for a prosperous future. Through collaborative efforts and financial assistance, the Allied powers demonstrated the power of unity and set a precedent for international solidarity.
This course introduces students by examining the multifaceted phenomenon of globalization. The focus on these issues is a multidimentional approach that integrates political, economic, historical geographical and sociological perspectives that created an increasing awareness of the interconnected- ness of peoples and places around the globe. The Contemporary World course is designed to provide students with an understanding of world events. To this end, the course provides an overview of the various debates in global governance, development, and sustainability. Beyond exposing the student to the world outside the Philippines, it seeks to inculcate a sense of global citizenship and global ethical responsibility.
Running Head EFFECTS OF COMMON CURRENCY TO THE POLITICA AND ECONO.docxsusanschei
Running Head: EFFECTS OF COMMON CURRENCY TO THE POLITICA AND ECONOMIC AFFAIRS OF EAST ASIA 1
EFFECTS OF COMMON CURRENCY TO THE POLITICA AND ECONOMIC AFFAIRS OF EAST ASIA 4
EFFECTS OF COMMON CURRENCY TO THE POLITICA AND ECONOMIC AFFAIRS OF EAST ASIA
My topic is the impact of a common currency on the political and economic affairs of East Asia. I was interested by the chapter due to the continued exploitation experienced by the members of the public by the different financial institution used to convert currency thus leading to poverty and an influence to the economy of the countries. The topic would help me in the establishment of the different problems brought by the currencies used by the East Asians. I have carried out a series of researches on the topic which have made it possible to identify both the long and short term effects to the citizens when a continued use of the different currencies is encouraged by the government. My argument concerning the common currency is that the government should come up with a common currency like the Euro as it reduced the costs incurred by the people during the conversion process. To support this, different mechanisms should be identified to ensure that the East Asia’s currency is made common as ths will help in the development of the region. (Hall, 2018)
East Asia should make use of a common currency as a unifying factor of the people. The introduction of Euro in the countries would help in bringing the members of the public together thus bringing about economic and political stability in East Asia as the people will live in harmony as they coexist amongst themselves. Due to the establishment of a single currency in East Asia, the zones occupied by the countries will be expanded thus bringing developments close to the people.
When a single currency is introduced to East Asians, the cost incurred by the members of the public to convert currencies are eliminated thus the amount can be used to carry out different project. The cost will be eliminated for the firms and individuals within the East Asia region thus stabilizing their production rates. Again, the price transparency is increased as it is hard for different organizations to compare different currencies therefore people are violated as financial institution make efforts to compare the currencies. When a common currency is introduced to the East Asia region, the comparison of prices by the organization is made straightforward thus different costs are cut and hence the cheapest products are bought at relatively low prices. (Ali, 2018)
Moreover, a single currency brings out an increased competition and efficiency in the manner a number of activities are carried out. The competition brought by the currency occurs due to the greater transparency in the prices of the commodities in the market. As a result, organizations are subjected to a fair competition as the operations are made efficient. As far as the economic politi ...
The document discusses challenges facing regional governance and institution building in Africa, specifically examining efforts since the 1990s. It notes that two key developments were the 1991 Abuja Treaty, which established a strategic plan for an African Economic Community including establishing the Pan-African Parliament, and the 1999 Constitutive Act of the African Union, which created new democratic institutions like the Pan-African Parliament to increase civil participation in regional governance. However, building strong regional institutions in Africa remains an ongoing challenge due to tensions between reforming institutions and maintaining state sovereignty, as well as lack of political will and capacity constraints.
The challenges of post-1990 regional integration In Africa: Pan-African Parli...Dr Lendy Spires
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Similar to Asian pacific economic cooperation an appraisal (20)
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The paper argues that the Universal Declaration of Human Rights may not perfectly represent the views of all the people of the world owing to differences in culture, sex, religion, to mention but a few. Thus it is not a binding rule to all the countries of the world. Nevertheless, it has become a point of reference whenever there is violation of human rights in any part of the world despite the culture and tradition of the people concerned. The paper concludes that despite its non-binding status, the admittance of its existence by states and enshrining human rights issues in their constitutions, the universal declaration of human rights does not only exist but in practice, makes humanitarian human rights law superior to national law and even as it affects armed conflict.
Human rights and international humanitarian lawOnyinye Chime
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His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Main Java[All of the Base Concepts}.docxadhitya5119
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Asian pacific economic cooperation an appraisal
1. American International Journal of Contemporary Research
Vol. 4 No. 1; January 2014
Asian Pacific Economic Cooperation: An Appraisal
Chukwuma Osakwe, PhD
Department of History and International Studies
Nigerian Defence Academy
Kaduna
Kelechi Johnmary Ani
Department of History and Strategic Studies
Federal University
Ndufu-Alike, Ikwo
Ebonyi State
Nigeria
Abstract
History of nations in times past often record some form of relations between them and other nations. Thereafter,
the rise of sovereign states transformed the nature of relations amongst states as they began to form alliance with
other states and regions. Consequently, regional and inter-regional organization continued to rise in global
history. However, the emergence of Asian Pacific Economic Cooperation (APEC) in 1989 advanced open interregional integration. This paper has documented the background history of APEC. It showed there strategic
economic cooperation dynamics as well as the security dynamics that the organization has adopted in the course
of their evolving history. The work equally captured the challenges faced by APEC and called for progressive,
sustainable, inter-regional strategy in order to for the member states to attain greater cooperative height in world
economic relations.
Key Words: Asia, Pacific, Economy, History, Trade
Introduction
An inquiry into the wealth of nations (Smith, 1770) in contemporary world politics (Kegley and Wittkoppf, 1997)
reveals that the economies of individual and multilateral states are centred on economic cooperation. This has
made “the politics of international economic relations” (Spero, 1980), which is a branch of international relations
(Goldstein, 1994) to become a politics of economic cooperation. Economic cooperation was defined by Rourke
(2002:484) as “a process whereby sovereign states, cooperate with one another bilaterally or multilaterally
through international governmental organizations or process”. It is a form of cooperation that could be found
amongst state and non-state actors across the regions and continents of the globe. It means a close intertwining
through a process of formal agreement or informal circumstances, in which the countries involved begin to
surrender some degree of their national sovereignty and act as an economic unit. It connotes a “sense of
community” amongst its population (Deutsh, 1968).
The idea of economic cooperation is closely related to the idea of “economic integration” (Bela, 1961). Asogwa
(1999; 109) wrote that “economic integration can be viewed as a process or condition which encompasses
measures to abolish discrimination between economic units belonging to different national states and a condition
in which various forms of discrimination between national economies are absent. As such economic integration
can take various forms, from free trade area to customs union, to common market, to economic union, to complete
economic integration”. Feld (1979) wrote that economic integration is divided into five different stages ranging
from “a free trade area to a custom union, a common market, an economic union and finally a monetary union”.
Asogwa (2009:102) argued that economic cooperation was a product of the “world community” concept or what
Burton (1972) called ‘world society’ that emanated after the World War II. El-Agraa (1997) wrote that since the
end of the World War II, “for all the far reaching economic cooperative effort at the global level, the degree of
activity and economic cooperation and integration at the regional level is even more advanced”.
230
3. American International Journal of Contemporary Research
Vol. 4 No. 1; January 2014
It could be recalled that the rise of cold war, due to the bi-polar international relations of the post-World War II
years and the rise of President Gorbechev’s popular reforms (Dawisha, 1990) known today as glasnost and
perestroika in USSR (Mbeye, 1989) created room for the massive neo-scramble, and partition of the world into
either the communist block or the capitalist block, with few trying to survive in their acclaimed posture of nonalignment till “the end of the cold war” (Hogan, 1992). APEC laid the foundation for emergence and strategic
competition in the “international politics of the post-cold war era,” (Echezona, 1998) in order to be viable in the
“new world order” (Echezona, 1993; Hoffman, 1980). The Association of South East Asian Nations (ASEAN)
was formed in 1967 to promote industrial, socio-cultural and economic cooperation. Structurally, China and Japan
threatened and dominated the sub-region as “hegemony and that created room for cooperation and discord in their
political economy” (Keohane, 1984). The ASEAN states consequently sought to balance against this domination
by involving the entire Pacific Basin and outside states such as United States in the regional economic and
political diplomacy. The end of Cold War era and the emergence of United States led to a uni-polar world politics
that made her exercise leadership might on ASEAN.
In 1989 the idea of APEC came into existence and on the initiative of Australia, a forum of originally fifteen
Pacific Rim countries was formed. In January 1989, Australian Prime Minister Bob Hawke called for more
effective economic cooperation across the Pacific Rim region. This led to the first meeting of APEC in the
Australian capital of Canberra in November, chaired by Australian Foreign Affairs Minister, Gareth Evans, which
was attended by political ministers from twelve countries, the meeting concluded with commitments for future
annual meetings. Countries of the Association of Southeast Asian Nations (ASEAN) opposed the initial proposal,
instead proposing the East Asia Economic Caucus which would exclude non-Asian countries such as the United
States, Canada, Australia, and New Zealand. This plan was opposed and strongly criticized by Japan and the
United States.
Consequently, in 1992, a secretariat was built in Singapore. Asia-Pacific Economic Cooperation (APEC) beame a
forum for 21 Pacific Rim countries (formally known as Member Economies) that seeks to promote “international
trade and finance” (Onwudinjo, 1996) through free trade and economic cooperation throughout the Asia-Pacific
region. Evans and Newnham (1997:36) wrote that “1993 witnessed two key developments that were headed by
ASEAN; the formation of the ASEAN Regional Forum, which linked the ASEAN states with eleven Pacific
Basin countries, Australia and the institutionalization of Asia Pacific Economic Cooperation” (APEC) with its
secretariat in Singapore. APEC member-states in 1996 were eighteen but they are currently twenty one. Amongst
them include Australia that joined in 1989, Brunei in 1989, Canada in 1989, Chile in 1994, People’s Republic of
China in 1991, Hong Kong in 1991, Indonesia in 1989, Japan in 1989, Malaysia in 1989, Mexico in 1993, New
Zealand in 1989, Papua New Guinea in 1993, Peru in 1998, Philippines in 1989, Republic of China (Chinese
Taipei) Russia in 1998, Singapore in 1989, South Korea in 1989, Thailand in 1989, United States of America in
1989 and Vietnam in 1998.
The agenda of free trade was a sensitive issue for the developing new international economies and for ASEAN
economies to explore new export market opportunities of the natural resources such as natural gas and seek
regional economic integration (industrial integration) by means of foreign direct investment. APEC members
account for approximately 40% of the world's population, approximately 54% of the world's gross domestic
product and about 44% of world trade (www.wikipedia.org). This high GDP is aimed at enhancing their strategic
position in the international economy. The games nations play (Spanier, 1978) is simply promoted by strategic
interests towards certain specific and non-specific goals.
Strategic Dimensions of Economic Cooperation
Trade in the APEC region continues to outperform the rest of the world, weathering global economic uncertainty,
according to new APEC Policy Support Unit (PSU) research that was presented to APEC Ministers during their
meeting in Vladivostok. Growth in the nominal USD value of merchandise trade for APEC economies moderated
to 4.6 percent in May 2012, down from 12.1 percent growth in December 2011 due to weak global economic
activity and deflated traded good prices. But it was enough to remain at the top of the heap, by comparison. The
rest of the world contracted by 5.6 percent in May 2012. “Though trade performance varied across the region in
the first half of 2012, due to weak global demand and sharp falls in commodity prices, APEC members’ economic
growth has been fairly robust and resilient” said PSU Director, Dr Denis Hew. “Foreign direct investment across
APEC economies is also encouraging,” he adds. As a whole, the region accounted for nearly half of the growth of
global FDI inflows in 2011.
232
5. American International Journal of Contemporary Research
Vol. 4 No. 1; January 2014
APEC is aimed at generating a greater amount and share of external trade and raise the standard of living of the
populations of member states. Internally, the greatly enlarged markets promote greater strategic economic activity
and greater strategic scale of production, allowing for the benefit of economies of scale, strategic cost reduction
and strategic cost competitiveness. All gives member states advantages in export trade. APEC is considering the
prospects and options for a Free Trade Area of the Asia-Pacific (FTAAP), which would include all APEC
member economies. Since 2006, the APEC Business Advisory Council, promoting the theory that a free trade
area has the best chance of converging the member nations and ensuring stable economic growth under free trade,
has lobbied for the creation of a high-level task force to study and develop a plan for a free trade area. The
proposal for a FTAAP arose due to the lack of progress in the Doha round of World Trade Organization
negotiations, and as a way to overcome the "spaghetti bowl" effect created by overlapping and conflicting
elements of the umpteen free trade agreements—there are approximately 60 free trade agreements, with an
additional 117 in the process of negotiation in Southeast Asia and the Asia-Pacific region. The FTAAP is more
ambitious in scope than the Doha round, which limits itself to reducing trade restrictions. The FTAAP would
create a free trade zone that would considerably expand commerce and economic growth in the region. The
economic expansion and growth in trade could exceed the expectations of other regional free trade areas such as
the ASEAN Plus Three (ASEAN + China, Japan, and South Korea).
As a relatively large economic bloc, the body has more effect than individual sovereign states in negotiating traderelated matters with member countries and other external states. The APEC Business Advisory Council (ABAC),
for instance, was created by the APEC Economic Leaders in November 1995 with the aim of providing advice to
the APEC Economic Leaders on ways to achieve the Bogor Goals and other specific business sector priorities,
and to provide the business perspective on specific areas of cooperation as well as enhance transnational relations
(Keohane and Nye, 1972). Each economy nominates up to three members from the private sector to ABAC.
These business leaders represent a wide range of industry sectors. ABAC provides an annual report to APEC
Economic Leaders containing recommendations to improve the business and investment environment in the AsiaPacific region, and outlining business views about priority regional issues.
ABAC is also the only non-governmental organisation that is on the official agenda of the APEC Economic
Leader’s Meeting (www.wikipaedia.org). The benefits and costs of trade to member countries varies according to
the relative size of their economies, to the level of development reached and how well endowed the state is in
terms of resources and human capital development. At the 2001 Leaders' Meeting in Shanghai, APEC leaders
pushed for a new round of trade negotiations and support for a program of trade capacity-building assistance,
leading to the launch of the Doha Development Agenda a few weeks later. The meeting also endorsed the
Shanghai Accord proposed by the United States, emphasising the implementation of open markets, structural
reform, and capacity building. As part of the accord, the meeting committed to develop and implement APEC
transparency standards, reduce trade transaction costs in the Asia-Pacific region by 5 percent over 5 years, and
pursue trade liberalization policies relating to information technology, goods and services. “For APEC,
development cooperation is seen as an adjunct to a process of market and trade liberalization” (Akpuru-Aja,
2002:123).
Apart from giving secure and stable access to a sizeable market, APEC has encouraged investment flow into the
member states, not only from business corporations in the member advanced countries but also from outside,
hence giving wider investment opportunity to member states. Since its formation in 1989, APEC has held annual
meetings with representatives from all member economies. The first four annual meetings were attended by
ministerial-level officials. Beginning in 1993, the annual meetings are named APEC Economic Leaders' Meetings
and are attended by the heads of government from all member economies except Taiwan, which is represented by
a ministerial-level official. Akpuru-Aja (2002:123) pointed out that the APEC summit in Manila in 1996
highlighted six themes; developing human capital, fostering efficient capital markets, strengthening economic
infrastructure, harnessing technologies, promoting environmentally sustainable growth and encouraging small and
medium enterprises. The annual Leaders' Meetings are not called summits.
APEC and Issues of Security
In 1997, the APEC meeting was held in Vancouver. Controversy arose after officers of the Royal Canadian
Mounted Police used pepper spray against protesters. The protesters objected to the presence of autocratic leaders
such as Indonesian President, Suharto. In 2003, Jemaah Islamiah leader Riduan Isamuddin had planned to attack
the APEC Leaders Meeting to be held in Bangkok in October.
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7. American International Journal of Contemporary Research
Vol. 4 No. 1; January 2014
Conclusion
Economic cooperation has become the order of the day in “the modern world system” (Wallerstein, 1974). APEC
has promoted “modernization and transformation of international relations” (Morse, 1976). Consequently, in the
search for a theory (Mansback & Vasquez, 1981; Roper, 1978) to be used in analysing this paper, the open
regionalism was adopted as the framework of economic and political analysis (Eaton, 1965). The paper showed
how the region has progressed in the bid to attain a standard free trade economy. Hence, since 2005, the APEC
leaders meeting focused on the Doha round of World Trade Organization (WTO) negotiations, leading up to the
WTO Ministerial Conference of 2005 held in Hong Kong in December. Weeks earlier, trade negotiations in Paris
were held between several WTO members, including the United States and the European Union on reducing
agricultural trade barriers. APEC leaders at the summit urged the European Union to agree to reduce farm
subsidies.
Within APEC, lesser developed peripheral countries like Papua New Guinea, Chile and Vietnam etc. gains from
the external economic diplomacy with the giant economies of China, USA, and Japan. Notwithstanding the
benefit disparities, due to differences in diplomatic ties and agreements, the deliberate aids and grants policies as
well as other forms of economic assistance from the richer to the poorer nations helps in balancing and
checkmating ‘absolute losers’ while strengthening ‘relative losers’ in the game of nations due to market
integration. Today, APEC has become a popular “international organization in the modern world” (Taylor, 1995).
Akpuru-Aja (2002:123) wrote that “member countries are expected to contribute voluntarily to cooperative
ventures, from which all partners would derive mutual benefits.
Some criticisms include that the diversion of trade within APEC members would create trade imbalances, market
conflicts and complications with nations of other regions. The development of the FTAAP is expected to take
many years, involving essential studies, evaluations and negotiations between member economies. APEC is also
affected by the absence of political will and popular agitations as well as lobbying against free trade in domestic
politics. The FTAAP has promoted ‘accumulation of capital’ (Luxembourg, 1964) and profit ‘accumulation on a
world scale’ (Amin, 1974) through its multiplier effect on the global market. Finally, APEC development
cooperation is still an unfolding process” (Browne, 1998:89). Consequently, APEC needs to reposition herself
through sustainable inter-regional strategy in order to attain greater cooperation heights in world economic
relations.
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