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Asia Pacific Region

The Asia Pacific Region and what make up the region.

The Asian Pacific Region has a very important influence towards the economic threshold for its countries through various levels of economic integrations. It has formalized various structures that enable economic feasibility and trade between its members. The Asia Pacific Region forms the world’s largest trade zone. It has a wide scope of geographical area which captures 55 countries and dominating 69% of the global population. Generally, this region has the characteristics of developing Spatial Data Infrastructure (SDI), which is aimed at enabling regional integration. It also has a complex autonomy in its political and social environment. As the name goes, it comprises of the Asian continent and the Australian zones near the Pacific Ocean. The economic portfolio of the region has been growing since the 1980’s after motives towards regional integration were put in place. (Webmaster, 2008)

 Three countries in the Asia Pacific Region and their role of regional integration in promoting global business.

According to http://www.codegear.com/shop/apac , this region comprises of  many countries amongst which are the Japan, China, Australia and others. Basically, regional integration in both Japan China and Korea has been of great economic attribute towards enabling foreign trade and

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international exchange across their borders. Such economic integrations have pulled out various international trade barriers between the countries which has consequently made a strong sense of trade flows across the countries. Through regional integration, Japan, China and Korea have been able to exchange various foreign exchange economies through export and import of economic factors.  Notably, there is high capital exchange between the three countries through foreign capital investment. Elsewhere the countries have interchangeably exchanged various trade products through export and import of industrial goods, tourism services, agricultural products and other commodities. Generally, foreign trade for Japan, China and Korea involve service and commodity export at different levels.

Advantages and disadvantages of regional integration by these 3 countries.
Across the board, such integration serves to provide both disadvantages and advantages to these three trading partners. They have defined various trade policies, laws, practices and regulations that promote free exchange of foreign trade between them. Though the efficiencies of uniform international trade barriers such as import duties, quotas, tariffs and other non-tariff barriers between the three, they have therefore been able to exchange foreign trade between them without any objective formal barriers. The cost of foreign trade across them has therefore been lower. However, regional integration between the three has made external trade with the other countries which are not members of the integration to being difficult. Any exchange of foreign trade across their boundaries with other non-participatory countries has legitimately been expensive due to the influence of trade barriers across them. Since the main goal of Asian –Pacific Economic Commission (APEC) is to promote foreign trade in its member states through economic integration, the trade relations between China, Japan and Korea has satisfactorily met its objective. (Webmaster, 2008)

 Role of APEC for or against the global market and towards Asia Pacific Region

            The role of APEC has been to promote trade relations between its member countries. It has ensured export and import flows across the Asian Pacific countries without or with minimal trade barriers. This has led to low cost of trade relations between the members. However, APEC has led to trade restrictions between its member countries and the external world. Consequently, trade inflows and outflows have been affected across the global market and the Asia Pacific Region. There have been presumptive trade barriers between them, which include tariffs, quotas, and other trade barriers.

Effects of APEC on world trade.

            According to http://www.codegear.com/shop/apac, APEC is a very significant body in the world trade being the biggest world trade organization. It has been   a strong icon towards shaping the modalities of the world trade. It has been important in shaping and modeling the structure of international trade policies, regulations, laws and restrictions. With the highly important influence in the economic status of the region, its involvement in the world trade has led to various balance and imbalances in the modalities of contacting global trade.

Economic development stages of the 3 countries within Asian Pacific Region and the ramifications of the region’s economic development for global business.

China, Japan and Korea share both similarities and differences in their economic development threshold. Currently, the three share the same standards of developed economies though their magnitudes differ in magnitude. Their economic growth history spanned since early 1980s when they incorporated various economic development variables. Consequently, China enjoys the sovereignty of world’s fastest growing economy. Though classified as developed countries, magnitude of economic developments has that china is the most developed followed by Japan and then Korea. Generally however, the attribute of their economic growth is highly influential towards influencing the global economy. This is because the three are basic icons in export and imports with the international business. (Webmaster, 2008)

Reference

Webmaster (2008) Asia Pacific Region. Retrieved on 13th May 2008 from, http://www.webmasterworld.com/forum32/

Borland Software Corporation (2008) Asia Pacific Region. Retrieved on 13th May 2008             from, http://www.codegear.com/shop/apac

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