University of Phoenix
March 13, 2007
Table of Contents
Introduction 3 Brief History ...3 Role of regional integration ..4 Advantages .5 Disadvantages 6 Conclusion .7 References .8
The Asia-Pacific Economic Cooperation (APEC) was created back in 1989 with 12 original members. As of today, the membership has increased to 21 members making APEC one of the largest regional organizations. The goal of this organization is to cooperate with other countries through trade and foreign relations in order to better the global economy. There are drawbacks to organizations such as APEC because sometimes countries do not always agree or get along with each other. A good example is the United States and China, which will be addressed later. Brief History
APEC was founded back in 1989 by 12 countries who wanted open-trade in the Asia-Pacific region. This list has grown to 21 members who include Australia, Brunei, Canada, Chile, China, China's Hong Kong, Chinese Taipei, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, South Korea, Thailand, the United States and Vietnam. Since its inception in 1989 " APEC has represented the most economically dynamic region in the world accounting for more than one third of the world's population (2.6 billion people), approximately 60 percent of world GDP (19, 254 billion U.S. dollars), about 47 percent of world trade, and having generated nearly 70 percent of global economic growth in its first 10 years," (Xinhua News, 2006). The main scope of this organization is to promote free trade and cooperation among members in the fields of economy, trade, investment and technology. In 1994, a meeting took place in Bogor, Indonesia specifying...