Economic Regionalization in the Asia-pacific
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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.
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Chapter 19: A Conversation with ROSS GARNAUT

M. Dutta

Extract

Page 173  19  A Conversation with ROSS GARNAUT  Q. I would like to make use of our limited time for a discussion on the Miami Initiative—the recent conference of all nations in the North and South Americas (except  Cuba), hosted by the United States in Miami, with an agenda for the Americas’ hemispheric free trade area. It comes soon after the APEC Summit in Bogor, Indonesia  in November 1994. How do you think it is going to impact on Asia­Pacific Economic Cooperation?  A. Well, I see the economic regional game in the Americas as a “little league” and in the Asian­Pacific as a “big league”—all in the World Series. The game here is the  big league because the world’s strongest and dynamic regions, especially in the twenty­first century, are going to be in the Asian­Pacific region. The United States is in  the process of making a decision whether it is a player in the little league or the big league in the World Series. There is some feeling within the United States at the  moment that economic integration with Latin America is more comfortable than with East Asia—there is less competitive threat, less competitive pressure, and with  Latin America there is less political disagreement and fewer differences of political values within the United States.  There is no reason in principle why there should be a conflict between the two paradigms—U.S. integration along the Americas and U.S. integration across the  Pacific—especially if...

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