APEC adrift: Implications for economic regionalism in Asia and the Pacific

APEC’s lack of success in securing tangible benefits in its first decade has particularly disappointed its ‘Western’ members. Its failures stem primarily from three weaknesses: a lack of consensus over its objectives and how these might best be realized; the absence of an institutionalized driving force for the grouping; and a failure to engage with civil society. APEC’s shortcomings have put at risk what is arguably its most significant achievement: the annual meetings that bring together leaders from around the Pacific Rim. Modest changes to organizational procedures might enhance APEC’s prospects – especially if its efforts are concentrated in trade facilitation and economic and technical cooperation rather than on trade liberalization. Such a change in direction would not only return APEC to its roots but also be in accord with the priorities of East Asian governments.