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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 20: A Conversation with PETER DRYSDALE

M. Dutta

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


Page 177  20  A Conversation with PETER DRYSDALE  Q. Do you think that the Miami Initiative, that is, the conference in Miami of all nations in the North and South Americas (excepting Cuba), hosted by the United States,  and the proposal for the Americas’ hemispheric free trade area, will have an impact on APEC?  A. I think that the Miami Initiative of December 1994 is a continuation of the United States’ policy of encouraging economic liberalization in North America, and of  broadening it towards the American hemisphere. The political objectives of the United States in the Americas is consistent with that. It is important in that context, but I  do not think that it will have a powerful impact on what is going on in the Asia­Pacific, especially in the context of APEC. If anything, it is reinforcing the agenda of  trade liberalization, adopted at the APEC Summit at Bogor in November 1994.  The Miami Conference points to, some might argue, an economic initiative that would lead to a redirection of North American attention to the creation of a broader  hemispheric American free trade area. I think that is most unlikely. First of all, in the Americas, especially in Latin America, there are a number of countries not  automatically fitting into the same framework of commitment to liberalization that there was in Mexico when it became a member of the North American Free Trade  Area. Even in Chile, the most likely candidate to join NAFTA, there are serious reservations...

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