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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 12: A Conversation with ZHAO GONG-DA

M. Dutta

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


Page 130  12  A Conversation with ZHAO GONG­DA  Q. The Asia­Pacific Economic Cooperation is different from the European Union, and also from the North American Free Trade Area. Will you please describe in  your words what APEC is?  A. In my view, APEC is a consultative forum for its member­countries. The Eminent Persons’ Group works to prepare an agenda for its summit meetings. The EPG  submitted two reports. The first report was issued in November 1993 for the APEC Summit in Seattle. Following the mandate by the APEC ministerial meeting in  Seattle, EPG drafted the second report for consideration at the APEC Summit in Bogor, Indonesia, November 1994.  The report for the 1994 Summit has substantive proposals for cooperation among APEC member­countries, mainly for free trade and trade­related issues. Trade  liberalization is the key issue and it sets up a timetable to that end. The Indonesian ministerial meeting will determine the beginning year and the year of completion for  trade liberalization in the APEC region.  For China, we have argued against any uniform set of dates for all countries. We favor that the timetable should be quite flexible. In view of the fact that the APEC  member­countries have achieved different stages of economic development, flexibility will facilitate the process of adjustment. To initiate the process for trade  liberalization in the year 2000, and complete it by 2020, will provide necessary flexibility. Based on the level of industrialization of their respective economies, APEC  member­countries...

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