Pacific Economic Cooperation Council Meeting
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The paper discusses the recent PECC XVIII meeting where nations discussed the global financial crisis, including the use of stimulus packages and the policy of protectionism. The paper looks at the PECC's relationship with the Asia-Pacific Economic Cooperation (APEC) body. The paper relates that in the end, all parties agreed that greater trade was key to recovery, but they disagreed about the methods to be employed.
From the Paper:"One of the most significant issues on the table was that the models used to build growth in the last decade were essentially unsustainable. However trade in the region is configured coming out of the crisis, therefore, it was reasoned that this trade should be structured differently, so as to avoid a repeat of this outcome. The major input to a new strategy would be to increase domestic demand in export-heavy nations such as China. This will allow such nations to maintain current levels of production while restoring balance to Pacific Rim trade. It was determined at the meeting that China is already moving in that direction, which is expected to usher in a new era with more sustainable trade."
Sample of Sources Used:
- PECC 18 website. Retrieved May 19, 2009 from http://www.pecc18.org/program.html
- PECC website. Retrieved May 19, 2009 from http://www.pecc.org/mainpage.htm
- Chan, Mignon. (2000). The Role of PECC in Support of APEC: Problems and Prospects. PECC. Retrieved May 19, 2009 from www.pecc.org/statements/APEC/2000_Brunei/SOM3-Annex.doc
Cite this Term Paper:
Pacific Economic Cooperation Council Meeting (2011, October 30) Retrieved July 07, 2020, from https://www.academon.com/term-paper/pacific-economic-cooperation-council-meeting-148701/
"Pacific Economic Cooperation Council Meeting" 30 October 2011. Web. 07 July. 2020. <https://www.academon.com/term-paper/pacific-economic-cooperation-council-meeting-148701/>