Since then Australian prime minister Bob Hawke first floated the idea ofa regional trade alliance in 1989. the regional picture has greatly changed. leading some commentators to question the APEC's relevance today. Their argument is that the forum lacks cohesion and has drifted from its original mandate of fostering trade and investment.
However. the forum has grown from 12 economies to 21. is home to 2.9 billion people. and represents 60 percent of the global GDP today. showing resilience in dealing with new challenges. Tim Harcourt, industry professor and chief economist with the Institute for Public Policy and Governance at the University of Technology Sydney. said APEC remains relevant.
This story is from the November 22, 2024 edition of The Philippine Star.
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This story is from the November 22, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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