APEC coming of age

APEC coming of age

"Finally the Asia Pacific Economic Cooperation (Apec) forum
seems to be coming of age. After years of being derided as little
more than a talking shop, the 18-nation body now shows signs of
being on the verge of acquiring some real significance, as
ministers from its member states gathered in Jakarta yesterday to
prepare for today's meeting of the leaders.

But, if there is one thing which can unite most Asian members
of the forum, it is suspicion of U.S. intentions -- especially
Washington's pressure for swift moves towards trade
liberalization. Hong Kong is an exception in that. Our economy is
already so open that we could only benefit from any moves to
lower tariffs throughout the region.

Elsewhere it is a different picture. From Tokyo to Beijing.
U.S. pressure to throw open Asia's markets are seen as an attempt
to economically dominate the region, and provide some distraction
from President Clinton's problems on the domestic front where he
is still suffering from the humiliating defeat of the Democrats
in the mid-term Congressional elections."

-- South China Sunday Morning Post, Hong Kong