APEC's survival shaky

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