Description - Asia-Pacific Economic Cooperation (APEC) by Werner Draguhn
For many years the Asia-Pacific was a 'region without regionalism'. With the prominent exception of the Association of Southeast Asian Nations (ASEAN), the first wave of regional institution-building in the 1950s and 1960s by-passed the region. A second wave in the 1980s and 1990s, however, finally reached its shores. APEC (Asia-Pacific Economic Cooperation) was the creation of this new regionalism. Yet, when APEC was founded in 1989 on Australian and Japanese initiatives, few observers accorded significance to the original heterogeneous grouping of twelve Pacific Rim nations. Since these modest beginnings, currently with twenty-one members and more nations applying for accession, APEC has now become a veritable player in the triangular relations between North America, East Asia and Europe. Ten years after its formation APEC has come of age and the time is ripe for taking stock of what APEC has achieved. The contributors to this volume address issues including: what are the strengths and weaknesses of the fledgling forum? How do the regional blocs (ASEAN, EAEC, CER, NAFTA) interact under the umbrella of APEC?
APEC's institutional development, functional diversification, implementation of objectives and responses to crises serve as yardsticks to measure the forum's performance.
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