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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 15: A Conversation with The Honorable NEVILLE WRAN

M. Dutta

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


Page 150  15  A Conversation with The Honorable NEVILLE WRAN  Q. People have been trying to describe APEC by saying what it is not—neither EU, nor NAFTA. One of your fellow EPG members has called it a moving target and  thus hard to define. How would you define APEC?  A. The terminology which first defines APEC is economic regionalization based upon the concept of voluntary association with its focus upon free trade in the region. It  is a term one will see frequently in the first EPG Report and occasionally in the second EPG Report. Its structure is flexible and with no compulsory overtones in  relation to specific objectives or decisions. The purpose of APEC is to facilitate trade between its 18 member­countries.  Q. How would you distinguish between the two expressions—free trade area and free trade in the area?  A. In my view, a free trade area connotes an association of member­countries at the expense of non­members, with free trade within the defined region or among the  defined countries, but with sanctions and non­extension of benefits to non­member countries.  Free trade in an area means that among the member­nations in the specific area there will be an absence of impediments, direct and indirect, to free trade. Then, there  is a capacity for member­nations to extend to non­member­nations the benefits which are available to the members in the area. Indeed, the steps for trade liberalization,  as defined within the...

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