Asia-Pacific region in changing global economy

Article type: Research Article

Authors: Kim, Youn-Suk^a | Koo, Hyeng Keun^b

Affiliations: [a] Department of Economics and Finance, Kean University, USA | [b] Pohang University of Science and Technology, Korea

Abstract: The Asia-Pacific economies have undergone the most striking economic growth and ever-increasing interdependence, and the region has been a major contributor to global prosperity and stability. The Asia-Pacific has rapidly grown in the last two decades, and the region leads trade liberalization through its open regionalism. Unlike any other regional integrations, the APEC presents an alternative way which is fully compatible with multilateralism of the WTO, and it is an open regional organization which has launched its implementation to liberalize trade and investment by strengthening economic and technical cooperation through business sectors which continue to prosper and to provide the engine of growth in the region. The environments for trade, investment and technology have been improved for the business dynamism and linkages of Asian-Pacific economies.

Keywords: Asia-Pacific Economic Cooperation, East Asia Economic Caucus, eminent persons group, free rider problem, ASEAN Free Trade Area

DOI: 10.3233/HSM-1997-16406

Journal: Human Systems Management, vol. 16, no. 4, pp. 285-291, 1997