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