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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 14: A Conversation with LEE TSAO YUAN

M. Dutta

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


Page 139  14  A Conversation with LEE TSAO YUAN  Q. People describe APEC in many different words and everybody is anxious to say it is different from the European Union, the North American Free Trade Area and  the ASEAN Free Trade Area. How would you define APEC?  A. APEC is, of course, an acronym for Asia Pacific Economic Cooperation and I think that very aptly describes what has been happening in the last six years of  APEC. To borrow an analogy by Gareth Evans, “APEC is like a three­tiered wedding cake, the first level being that of useful dialogue, the second being that of trade  facilitation, where you begin to discuss the terms of harmonization of standards, customs, implementation of tariff data bases, and so on, and the third tier would be one  in which I think APEC has just made a political commitment to the whole area of trade liberalization”. So APEC to me is a process, it is a process of economic  cooperation. I think that the countries of Asia­Pacific are at this point in time in many ways still groping towards finding out what form this economic cooperation will  take.  I do think that the APEC Summit in Bogor in November 1994 had actually given APEC a much greater substance in terms of form than ever before. At this summit, the  economic leaders of 18 APEC member­nations signed the Declaration and made the political commitment to establish free and open trade and investment by...

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