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 26: Intra-APEC Geo-economics

M. Dutta

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Page 229  26  Intra­APEC Geo­economics  GEO­ECONOMICS AND THE LINK  Geo­economics provides the practical and effective linkage between a sovereign nation­state economy and the one­world international economic regime. It is an  intermediate step in the right direction. The global order of a free and perfectly competitive market economy certainly remains the ideal, but it continues to elude us.  Given the necessary and sufficient conditions, the global order will foreseeably become real. Until then, the next best option is a marriage between regionalism and  globalism, and thus, geo­economics has become the order of the day. Sharing economic fortunes of a given economy with its neighboring economies will add to the  economic gains of all in the region without subtracting anything from others not belonging to the map of the region. Geo­economics thus satisfies the Pareto optimality  condition.  We have discussed (see Part I) that in recent time, geo­economics has become the core of economic regionalization in its different manifestations in different regions of  the globe. I have argued that a map­of­the­world view of a region should be the optimum base for all such economic regional groupings. The neighboring sovereign  economies reach out to each other and elect voluntarily to join together to broaden their common economic base with a shared agenda towards optimization of  economic gains of all micro units—households and businesses—in all sovereign member­countries in the group.  The EU in the map­of­the­world view...

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