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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 18: A Conversation with HEINZ W. ARNDT

M. Dutta

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


Page 166  18  A Conversation with HEINZ W. ARNDT  Q. Asia­Pacific Economic Cooperation held two successive annual summits at Seattle in 1993 and Bogor, Indonesia in 1994 with great success and with much world  attention. How do you view the Miami Initiative of the United States of America, hosting a conference of all states of North and South Americas (except Cuba) and the  proposal for the hemispheric free trade area of the Americas? and its impact on APEC?  A. I welcome the general approach. I welcome an arrangement which will help focus on non­discriminatory trade liberalization. Each country is encouraged to liberalize  trade independently of reciprocal or discriminatory arrangements. We have been anxious to avoid APEC becoming a discriminatory trade bloc or a free trade area. I  am unhappy about suggestions that APEC should be linked to the North American Free Trade Area.  The problem came to the fore in the second report of the Eminent Persons’ Group when Fred Bergsten, the U.S. member of the group, inserted into the draft a formula  which seems to suggest that there should be non­discriminatory trade liberalization within APEC, but it could be discriminatory for outsiders. Towards non­member­ countries, APEC members would have the option of offering liberalization on a reciprocal basis. This has been the center of the argument. I think Bergsten feared that if  he gave too much away, the Uruguay Round ratification might be in danger, or, there would be a general backlash in the United...

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