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Economic Regionalization in the Asia-pacific

Economic Regionalization in the Asia-pacific

Challenges to Economic Cooperation

M. Dutta

This original and comprehensive book provides a unique insight into the development of economic regionalization, with special reference to the Asia-Pacific. It presents international globalization strategies from a historical perspective and then analyses the effects on the development of Asia-Pacific Economic Cooperation (APEC). Focusing on APEC itself, the author provides a detailed investigation into its organization and agenda, and thorough personal interviews with some of the most influential people who have worked for APEC.

Chapter 9: A Conversation with JANG-HEE YOO

M. Dutta

Subjects: asian studies, asian economics, economics and finance, asian economics, international economics


Page 96  9  A Conversation with JANG­HEE YOO  Q. Let us begin with the question many of us seem to be concerned about. APEC, Bogor in 1994 became a high point since its founding in 1989, while APEC Osaka  1996, people perceived, became a low point. How will you explain this situation to your readers?  A. An important point that people often miss is that APEC is still in the process of growing and developing. So far we have had three leaders’ meetings, or “summits”  as they are referred to in the media. The first summit was held in Seattle in 1993, the second in Bogor 1994, and the third in Osaka in 1995. As more summits are held  APEC’s vision becomes clearer every year and APEC’s programs become more concrete. In the Bogor Declaration of 1994, all of the member­economies decided to  complete APEC’s trade liberalization program by the year 2020 for developing economies and by the year 2010 for the developed economies. Even though the year  2020 may be a long way off, this is a major step towards economic integration in the APEC region that should not be underestimated. What is so significant about the  Bogor Declaration is that all 18 member­economies were able to come together and decide to accept this concept of APEC, despite the fact that each economy varies  a great deal in terms of economic development status, relative size of economies, and economic systems. This is definitely one of the...

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