APEC's survival shaky

Tricked out in Indonesian batik camouflage gear, the 18 leaders of the Asian-pacific Economic Cooperation group beamed broadly at the camera, happy, no doubt, that the worst thing to emerge from the summit was having to turn out in public in their host's choice of attire.

On the surface, the Jakarta exercise has been successful. Agreement has been reached. Decisions made. But a question persists over this ambitious vision of free trade in Asia, not unlike the one which hangs over the shirts. Will they wear it now that all the celebrating is over and everybody has gone home? Without a common denominator to weld the members into a genuine trade entity, how will this alliance thrive? There is no common thread like culture, or even geographic location, to unite them. APEC is certainly not doomed to failure but its prospects of survival are rather shaky. As a smaller grouping, based on the yen, without fear of dominance by the main Western nations, and with Japan taking a formative role, it would have a much greater chance of succeeding.

-- Eastern Express