Clinton's Asian trip<\/p>\n
President Bill Clinton's theme of putting the economy first
\ntakes him to Indonesia this week for the second annual Asia-
\nPacific Economic Cooperation summit meeting. APEC is an 18-member
\ngroup of Pacific Rim countries that includes China and Japan. On
\nthe agenda is a proposal to create by 2020 the world's largest
\nfree-trade and investment zone -- a dramatic symbol of America's
\ntilt toward soaring opportunities in Asia and away from the
\nenervated economies of Western Europe.<\/p>\n
Clinton pushed NAFTA, the accord with Mexico and Canada,
\nthrough Congress over the opposition of important Democratic
\nconstituencies. He also signed, along with more than 100 trading
\npartners, the General Agreement on Tariffs and Trade -- which
\nCongress will vote on after the elections.<\/p>\n
An APEC accord is an enticing next step. APEC members account
\nfor about half of the world's economic output; yet the U.S. share
\nof trade and investment in the group is falling. A trade
\nagreement would guarantee fair access, a key to U.S. growth.<\/p>\n
An APEC trade accord could boost the economies everywhere
\nalong the Pacific Rim. It could also nudge countries outside the
\nregion toward more open trade and investment agreements: after
\nthe United States embraced NAFTA, Western Europe got serious
\nabout negotiating GATT. And by tying Asia and the United States
\ncloser together, an APEC trade agreement would help to defuse
\npolitical tensions.<\/p>\n
Yet for all its promise, an APEC accord, like other regional
\ntrade pacts, could be worrisome. By granting preferential market
\naccess to members it would discriminate against exports from non-
\nmembers. The proponents of an APEC accord propose to mitigate the
\nthreat in two ways: by knocking down trade and investment
\nbarriers left standing by GATT and by offering APEC trade
\nbenefits to non-members willing to live by the same rules.<\/p>\n
An unresolved issue is how to proceed. Paula Stern and Robert
\nManning, two former U.S. trade officials affiliated with a
\nDemocratic think tank, call for an incremental approach.<\/p>\n
Free trade among countries at different states of economic
\ndevelopment would be difficult to define, let alone achieve. Ms.
\nStern and Manning want to select a few modest goals over the next
\ncouple of years. For example, APEC could start immediately to
\nformulate protection for foreign investors, adopt common customs
\nprocedures and open access to telecommunications markets.<\/p>\n
A few quick victories could undermine protectionist opposition
\nin Congress. That is important because Congress has so far
\nblocked Clinton's request for \"fast track\" status for future
\ntrade negotiations -- the procedure by which Congress agrees to
\nvote on a trade proposal quickly and without amendment. Clinton
\nneeds \"fast track\" if he is to secure the trade agreements called
\nfor in his economic strategy.<\/p>\n
Not everyone in APEC is thrilled by the prospect of free
\ntrade. Some, like Malaysia, are afraid of close involvement with
\nthe United States, partly because they fear the squabbles over
\nhuman rights and other issues that have marked U.S. relations
\nwith Japan and China.<\/p>\n
China has threatened to fight the proposal, perhaps as a way
\nto bargain for early admission to the new World Trade
\nOrganization that will oversee international trade rules.<\/p>\n
The United States and other supporters of free trade will have
\nto fight hard to get APEC to move toward free trade. But the
\nUnited States imports more from Asia than the rest of the world
\ncombined. It sells more than 30 percent of its exports to Asia.
\nClinton is headed in the right direction.<\/p>\n
-- The New York Times<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/clintons-asian-trip-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }