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APEC: A Case of Open Regionalism

In: Regional Blocs

Author

Listed:
  • A. S. Bhalla
  • P. Bhalla

Abstract

The Asia-Pacific Economic Cooperation (APEC) Forum is one of the most recent and potentially significant cooperation initiatives. Established in 1989, this forum consists of 18 members from both developed (Australia, Canada, Japan, New Zealand and the United States) and developing countries (Brunei, Chile, China, Hong Kong, Indonesia, Malaysia, Mexico, Papua New Guinea, Philippines, Republic of Korea, Singapore, Taiwan, Thailand). Owing to its large membership, the fact that it includes the world’s leading economic powers, the US and Japan, and the world’s most rapidly growing newly industrializing economies (NIEs) of East Asia, it is likely to become an important influence in shaping the future of multilateral trade and globalization.1 APEC’s diverse group of economies accounts for more than half of world GDP, almost 40 per cent of world trade (compared with the EU-12 share of about 41 per cent) and about 65 per cent of intra-APEC exports which is higher than the EC share of intraregional exports (Elek, 1992; Yamazawa, 1996).

Suggested Citation

  • A. S. Bhalla & P. Bhalla, 1997. "APEC: A Case of Open Regionalism," Palgrave Macmillan Books, in: Regional Blocs, chapter 5, pages 98-120, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-25811-6_5
    DOI: 10.1007/978-1-349-25811-6_5
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