The initiatives and enormous investments turned the APEC meeting in Beijing from a “talk shop” to one of action. Han Liqun stresses that all APEC member economies should be fully confident in building an open and liberal economic and trade environment in the Asia-Pacific.
China is the leading advocate for progress in the form of a “feasibility study” on an inclusive new regional trade agreement, the FTAAP. Concerned that this will detract from U.S. regional interests, the FTAAP ironically has provided impetus for the completion of the U.S.-led TPP proposal.
He Weiwen dislodges the notion that the FTAAP is inherently in opposition to the TPP by discussing APEC plans to phase out regional free trade agreements in favor of creating a singular FTAAP; this more inclusive agreement which would serve as the “greatest common denominator” for standards and investment treaties in the Asian Pacific.
China’s “One Belt, One Road” strategy is Xi’s new scheme to effectively interconnect the trade routes between China and the rest of the world. The United States need not consider it a hegemonic challenge, but rather work to collaborate in the region’s common development.
China has introduced a new housing credit policy, designed to increase demand for real estate, and to get China’s economy back onto a fast track for growth, writes Yi Xianrong.
The significance of the upcoming Asia-Pacific Economic Cooperation Summit in Beijing consists not so much in what is on APEC’s agenda as in what transpires on the sidelines. Meetings between Chinese President Xi Jinping and US President Barack Obama; as well as Xi’s meetings with Japanese Prime Minister Shinzo Abe loom especially large.
The Asian Pacific has seen a proliferation of Free Trade Associations over the years due to changing value chains, laws, and regional competition. Zhang Monan posits that the FTAAP would be the most beneficial and inclusive solution for the approaching APEC meeting in Beijing.
The web of overlapping free trade agreements in the Asian Pacific have largely excluded Taiwan, and the U.S.-backed Trans-Pacific Partnership (TPP) may be an option for inclusion. Taiwan’s unique position as an independent, export economy while still reliant on Mainland China, could actually be mutually beneficial for the region.
Dan Steinbock discusses the history of Asian-Pacific regional trade zones, and the U.S.’s geopolitical trade concerns with APEC. For the U.S. to see greater economic cooperation with China, it should consider the more inclusive FTAAP proposal.
As the APEC leaders meeting in Beijing approaches, Yu Xiang examines current free trade negotiations and discusses why the United States and China should merge their regional agreements to boost economic relations between the world’s two largest economies.
AIIB will promote economic development and prosperity in Asia, and US worries about the AIIB are absolutely unnecessary, writes Wu Zurong.
The theme of this year’s APEC summit is “Shaping the Future Through an Asia-Pacific Partnership.” APEC leaders will chart the policies and principles for APEC integration, push for the creation of a free trade zone, and work to speed up connectivity and innovative cooperation.
Derek Scissors critiques the methods to measure the wealth of a nation, in particular the GDP PPP metric which led to World Bank and IMF projections of China’s economy surpassing the American economy next year.
As Chinese manufacturers continue their expansion into South America, Walker Rowe describes the evolution of the region’s emerging markets and how Chinese companies are capitalizing on the growing middle class.
The proposed Asian infrastructure bank could galvanize growth in emerging Asia and boost lingering global recovery.