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Asian Pacific Economic Commission

Introduction

            Substantially, much can be credited to the impact APEC on regional integration of its member’s states. Economic integration both regional and global has been highly influenced by the impact of this regional corporation. This is through the corresponding state of international l trade and economic relations that is exchanged between its member states themselves and between them and outside/ contemporary global economy.

Generally, the influence of APEC for its member’s states is implicit when viewed under the scope of various levels of economic variables.

            APEC structures have been fundamental in formalizing the trade and economic exchange structures that has promoted trade feasibility among its partners. It is the world’s largest economic regional scoring up to 55 countries as its trading partners. The population domain of its countries scores 68.93 of total population of the world. Basically, regional integration across APEC has been catalyzed by spatial Data infrastructure (SDI) which has been a tool of commission and regulation towards the structures for economic exchange of trade inflow and outflow within its partners themselves and the outside world ( http://www.webmasterworld.com/forum32/) Elsewhere, APEC is characterized by a wide scope of social and political environment which is build from the influence of the different geographical dispensation of its trading partners. APEC compounds the Australian states that boarders Pacific Ocean and the whole Asian continent. Since 1981, the initiatives and goals of APEC have grown to exemplary frontiers posited by the positive implications of economic integration within it members.

Role of APEC in promoting global business

            A great framework of economic autonomy and foundation of international trade describe the impact of APEC to the global business and international trade. Capital inflow and outflow through exports and imports have been evident between APEC and the global economy.

            By and large, APEC is committed to the economic development both   of its members and the global community. It has reinstituted facilitating investment programs for industrialization as well as accelerated trade relations with the global economy. Basically, its members have been led to unilateral, bilateral and multilateral trade relations with various global trading partners to promote cohesive exchange of economic variables both through import and export framework. (http://www.apec.org.au/docs/future.htm)

            Generally, international trade restrictions such as quotas, tariffs, embargoes and others have been the foundations of international trade exchange between its members and the outside world.  Being the biggest trading integration, APEC has offered favorable inward and outward economic exchange modalities constructed by its founded trade restrictions and business conduct formalities. However, comparative advantages through the commitments of trade liberalization have offered economic efficiencies through economies of scale for the output of industrial products.

            Consequently, its output has been exported to other regional corporations such as the NAFTA, EU, ASEAN, CAFTA and others. Elsewhere, its member states has promoted an outward economic rationality to the global economies. APEC has offered regional economic corporations for its members. The same has fostered flexibility in an economic exchange with the whole world through controlled modalities. The realization of APEC influence in the world trade is a compound of various macro and microeconomic impacts.( http://www.apec.org.au/docs/future.htm) This includes, capital inflow and outflow, foreign investments, foreign money market exchange, multinational industrialization, property ownership, influence to international trade laws and regulations above other implicit influences. The free trade relationship between its members has therefore led to massive development of economies that promote bilateral and multilateral economic exchange between it and the global community. Broadly therefore, APEC seeks to safeguard the development of other regional economies through exchange of both absolute and comparative advantages.

Advantages and disadvantages of APEC

            APEC is committed to economic liberalization that ensures free trade among its partners. However, in the lieu of instituting its trade relations, it is compounded by various advantages and disadvantages.

Advantages

            Through its motive of free trade, its member countries have been free to exchange their economies through free imports and exports. Consequently, the outcome of its economic impact has been an increase in  $300 billion per year. Economic variables are easily exchanged at free will discretion between its members. Consequently, its partners have endured an increasing state of economic challenge and development from the impact of their trade exchange (http://www.webmasterworld.com/forum32/)

            Elsewhere, its trade corporations have limited economic exchange between its members and other global states. This has lead to the foundations of various trade restrictions that ensure a controlled import and export. Consequently, the balance of payments between its members and the outside world has been favourable from the controlled nature of international trade, which is aimed at ensuring more export than the imports. (http://www.codegear.com/shop/apac)

Disadvantages

            Though developmental conscious however, APEC ignites a correspondence to some trade disadvantages. Its restrictive freedom between its partners and other global economies has resulted to trade restrictions and embargoes that limit its scope of trade relations with the global economic portfolio. This has led to expensive thresholds of   business conduct with the global economy.

            Elsewhere, it has been founded on conflict of interests between it members. They constantly disagree on trade relations than negatively negates its motive.

Also, some of its members corresponds their membership to other regional corporations. Double and triple loyalty has disintegrated its unison and cohesion leading to trade related entangles. (http://www.codegear.com/shop/apac)

Economic development stages of APEC countries

            The 55 state memberships of the APEC partners correspond to a wide framework of development stages. Since 1982, various economic conditions have shaped its economies differently with different characterization of macro and microeconomic variables such as employment, inflation, government spending, investments, consumption and balance of payment.

            However, a current generalization of its partners can be formulated in three scopes which includes developed, developing and underdeveloped economies. Elsewhere, it is challenged with various economic stages such as stagnant, booming and down swing /pulling economies. Though a summary of the development relations, robust economies across all its members as embraced by China, Japan, Korea, Canada, United States, and others can be ensured through equality and favorable economic exchange and relations (http://www.codegear.com/shop/apac). This could be achieved through legal framework that provides positive economic challenge to all its members equally not at the expense of the others.

Reference

The Future of APEC and is Impacts on World and Regional Trade: Retrieved on 6th June 2008 from http://www.apec.org.au/docs/future.htm

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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