Critically Evaluate the Asia-Pacific Economic Co-Operation (Apec) Forum's Attempts to Enhance Regional Economic Integration in the Asia-Pacific.
Critically evaluate the Asia-Pacific Economic Co-operation (APEC) forum’s attempts to enhance regional economic integration in the Asia-Pacific.
The Asia-Pacific Economic Co-operation (APEC) was created in 1989 as a regional discussion forum for fostering “closer economic relations within the region through inter-governmental consultations and other non-binding mechanisms.” (Dent, 2007:449). To a large extent the forum echoed “many decades of proceeding ideas and initiatives on Pacific regional community-building.”(Dent, 2008:120). One factor in APEC’s formation arose from the situation at the end of the Cold War whereby there was a growing market-driven economic interdependence which “created fresh opportunities for regionalism.” (Feinberg, 2008:67). Significantly, APEC was in an ideal position to benefit.(Beeson (2006:1).
Since inception, the main agenda of APEC has focused on trade and investment liberalisation, although it has also focused on Economic and Technical Cooperation (Ecotech) and Trade Facilitation; these are known as the three pillars of APEC). In the initial years there was enthusiasm and optimism for APEC’s potential for the enhancement of regional economic integration. However the Forum’s progress has stumbled on a number of obstacles along the way. One such obstacle has been the irreconcilable national interests of member states which have ‘impeded the organisation’s progress, as well as that of Asia-Pacific trans-regionalism generally.’ (Dent, 2008:144). This argument is used in support of the neo-realist assessment of APEC. Furthermore, neo-realists argue the sub-grouping of nation states as well as the competing interests for hegemonic position and influence of more powerful nations, such as China and Japan, have been additional obstacles to APEC’s success. As a consequence APEC has been labelled as being ‘all talk no action,’ and a mere ‘talk shop’ which has been very much ‘adrift’. (Ravenhill, 2001, Dent 2008, Beeson 2006).
On
The Asia-Pacific Economic Co-operation (APEC) was created in 1989 as a regional discussion forum for fostering “closer economic relations within the region through inter-governmental consultations and other non-binding mechanisms.” (Dent, 2007:449). To a large extent the forum echoed “many decades of proceeding ideas and initiatives on Pacific regional community-building.”(Dent, 2008:120). One factor in APEC’s formation arose from the situation at the end of the Cold War whereby there was a growing market-driven economic interdependence which “created fresh opportunities for regionalism.” (Feinberg, 2008:67). Significantly, APEC was in an ideal position to benefit.(Beeson (2006:1).
Since inception, the main agenda of APEC has focused on trade and investment liberalisation, although it has also focused on Economic and Technical Cooperation (Ecotech) and Trade Facilitation; these are known as the three pillars of APEC). In the initial years there was enthusiasm and optimism for APEC’s potential for the enhancement of regional economic integration. However the Forum’s progress has stumbled on a number of obstacles along the way. One such obstacle has been the irreconcilable national interests of member states which have ‘impeded the organisation’s progress, as well as that of Asia-Pacific trans-regionalism generally.’ (Dent, 2008:144). This argument is used in support of the neo-realist assessment of APEC. Furthermore, neo-realists argue the sub-grouping of nation states as well as the competing interests for hegemonic position and influence of more powerful nations, such as China and Japan, have been additional obstacles to APEC’s success. As a consequence APEC has been labelled as being ‘all talk no action,’ and a mere ‘talk shop’ which has been very much ‘adrift’. (Ravenhill, 2001, Dent 2008, Beeson 2006).
On
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