Economic Integration in Asia-Pacific

By Noor, Muhamad | International Trade Forum, October-December 2011 | Go to article overview

Economic Integration in Asia-Pacific


Noor, Muhamad, International Trade Forum


Three years after the financial crisis, the global economy remains weak, and fears of another recession persist. The euro zone debt crisis, a slowdown in the United States economy and volatile food and energy prices threaten to send shockwaves around the world. Institutions such as the International Monetary Fund have cut growth forecasts, including for economies in Asia-Pacific.

In the current context, work by Asia-Pacific Economic Cooperation (APEC) economies to strengthen economic integration in the Asia-Pacific region has never been more vital to aiding in building a sustainable recovery. Regional integration clears away barriers to trade in goods and services and allows capital, people and even knowledge to flow across borders, promising enormous benefits to all. Free trade and investment can drive economic growth by allowing businesses to make inroads into new markets, creating jobs and lifting people out of poverty. It also means cheaper goods and services for consumers. And liberalization and reform of trade-related policies can strengthen open and competitive markets in the region, making economies more resilient to future global shocks.

APEC's structure

Since it was founded in 1989, APEC has made achieving prosperity through free trade and investment its primary goal. APEC has grown to comprise 21 diverse economies from both sides of the Pacific, and now accounts for 44% of global trade and 55% of global GDP. It has a 22-year history of achieving results in the region through open dialogue and cooperation on multiple levels (from leaders to ministers, senior officials and working groups) and through partnerships with the private sector. APEC's efforts have contributed to a reduction in members' average tariffs from 17% in 1989 to 6.2% in 2009. Substantial progress has also been made to reduce non-tariff barriers.

On the ground, it has a strong record of building the capacity of its members, particularly developing economies, through economic and technical cooperation, with projects around the region. These projects--on everything from standards and conformance issues to microfinance and customs procedures--transfer skills, knowledge and best practices between officials, encouraging reform and turning APEC strategies into concrete action.

APEC 2011

With the United States chairing APEC this year, the organization is building on the vision that leaders set out in Yokohama at the end of 2010 to promote stronger and deeper integration by advancing shared trade and investment interests. Specifically in 2011, APEC has focused on defining, shaping and addressing next-generation trade and investment issues that have emerged as a result of changes in the global trading environment. The APEC Trade Ministers meeting in May identified three issues for immediate action: reducing the time, cost and uncertainty of moving goods through regional supply chains; encouraging small- and medium-sized enterprises to conduct more international trade; and promoting market-based innovation. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Economic Integration in Asia-Pacific
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.