Rebuilding APEC consensus
- By Wang Yuzhu
0 Comment(s)
Print
E-mail China Daily, September 29, 2013
Although the US claims the ultimate goal of the TPP is to build a free trade area within the framework of APEC, many APEC member economies are excluded from TPP negotiations because they have not yet reached the high standards set by the US. The result: APEC has been divided into TPP and non-TPP groups.
Washington's changed stance on APEC is responsible for creating the sorry state of affairs we see in the region today. When APEC was formed, the US' main objective was to promote economic integration. But because of China's rapid economic rise, the US began turning to bilateral and sub-regional arrangements. Now, by promoting cooperation within a select group of APEC members, the US is aiming to maintain its dominance in the Asia-Pacific region.
This means the US' leading role in APEC has significantly weakened, and countries hosting APEC meetings have to guide the forum according to the best of their capabilities, which creates uncertainties for its development.
APEC countries have to reach a consensus based on cooperation and development. Indonesia, as this year's APEC host, has expressed hope that China would continue to promote some of the issues it has put forward. China's support is important to continue the efforts to strengthen APEC. But more importantly, only when APEC members redefine and reach a consensus on their cooperation direction can the APEC cooperation agenda yield continuous positive results.
Otherwise, APEC members may end up being locked in competitions, with each trying to direct regional development to serve its own interests, which would lead to chaos.
There is urgent need to clarify the major functions of APEC as a platform for regional economic integration. While setting the cooperation agenda, APEC members should remember their common economic interests.
Needless to say, the economic growth issue deserves continued attention. Since the world economy is still mired in uncertainty, whether the Asia-Pacific region can contribute more to global economic growth depends on the joint efforts of the region's economies. Therefore, APEC should remain committed to deepening regional cooperation.
To this end, APEC should try to coordinate a variety of competitive regional arrangements, some of which already exist in the region. An important task for APEC is to coordinate the relationship between the US-led TPP and ASEAN's Regional Comprehensive Economic Partnership. And given the development gap among APEC members, which can be detrimental to deeper regional cooperation, Indonesia's emphasis on promoting regional connectivity deserves special attention.
In the final analysis, only by reviving APEC's role as a regional economic integration platform can a consensus be reached and cooperation in the Asia-Pacific region deepened.
The author is director of the Research Center for APEC and East Asian Cooperation at the Chinese Academy of Social Sciences.
Go to Forum >>0 Comment(s)