The Asia-Pacific Leaders gathered in Manila for the annual summit should focus their discussions on ways to ensure that more people are part of growth in the region, according to PECC survey of opinion-leaders, results of which were released at a press briefing on November 16th 2015 in Manila, during the APEC Leaders' Week. According to the State of the Region 2015-2016 report, the region will grow at 3.2 percent this year, the slowest rate since the Global Financial Crisis of 2008-2009.
According to Asia-Pacific opinion-leaders who participated in the annual PECC survey, the top five risks to growth in the region are:
- A slowdown in the Chinese economy
- Failure to implement structural reforms;
- Lack of political leadership;
- A slowdown in the US economy; and
- Lack of adequate infrastructure.
The PECC annual survey was conducted during 21 September-16 October 2015, drawing responses from 710 individuals.
Some key questions covered in the survey were:
1) What are the biggest risks...Read more...
Developments of ports and of new maritime routes are ways to better link economies of PECC and enhance connectivity that facilitates regional and international trade. In the past recent years, maritime trade has been growing, to and from PECC economies in the Asia- Pacific, for reasons of reliability, efficiency, and lower costs.
This PECC international project aims to contribute to regional policy dialogues on improving connectivity, sustainability and mutual growth for the PECC economies on both sides of the Pacific that are seeking to develop new routes and enhance port operations to meet the increasing demand for maritime trade through the Pacific and Indian Oceans.
Representatives from government agencies, relevant institutions and businesses from PECC economies, who are responsible for the development of maritime trade in the Asia-Pacific region such as sea transport companies, port operators, designers and builders of vessels, dredging and port construction companies, ha...Read more...
The Asia-Pacific is forecast to grow by 3.2 percent in 2015, the lowest level since the Global Financial Crisis before returning to what has become the ‘new normal’ growth of around 3.4 to 3.5 percent. Growth for both advanced and emerging economies in the region is significantly lower than before the crisis years, indicative of the important structural changes taking place both within regional economies as well as in the Asia-Pacific region as a whole.
Several initiatives are under way that could help to boost growth including the launching of the Asian Infrastructure Investment Bank (AIIB), the Trans-Pacific Partnership (TPP), and the Regional Comprehensive Economic Partnership (RCEP). However, much more is needed. Increasingly, economies aspire to, and demand, growth that is sustainable and inclusive. This raises the very real question of where such growth will come from. As tariffs, quotas and other trade barriers have fallen with trade liberalization, the focus...Read more...
At the last Standing Committee Meeting held in Manila, Philippines on September 10th 2015, Ambassador Tang Guoqiang of the China Committee for PECC (CNCPEC) was elected the new Co-chair of PECC to serve for three years alongside Ambassador Don Campbell of Canada committee for PECC (CANCPEC) who was re-elected for another term of three years.
Amb. Tang Guoqiang has been Chair of CNCPEC starting May 2012. Amb. Tang served on many of China’s diplomatic posts, including Ambassador of PRC accredited to the Czech Republic and to Norway. He was also Head of the Chinese mission to the United Nations and other international organizations in Vienna. He also served as Deputy Commissioner at the Commissioner’s Office of China’s Ministry of Foreign Affairs in Hong Kong. Amb. Tang is a native of Shanghai and has entered the Ministry of Foreign Affairs in 1974.
Mr. Jusuf Wanandi has stepped down as Co-chair after two terms.Read more...
The Philippines PECC committee hosted the 23rd General Meeting of PECC in Manila with the theme, "Growth Engines for the 21st Century: Achieving Balanced, Inclusive, and Sustainable Growth."
Following are the plenary and concurrent sessions of the General Meeting:
Plenary Session 1: Sustainable and Inclusive Growth in the Asia-Pacific Century
The 21st century was touted as the Asia-Pacific century, 15 years on with the fallout from the Global Financial Crisis still bearing over the world economy, what will the drivers of growth be in the coming 5-10 years? The structural changes taking place in major economies such as China, Japan and the United States, the growing constraints on the supply of resources and environmental concerns will have a profound impact on prospects for growth for the entire region. On the other hand, the broader adoption of new technology and new ways of conducting business may provide solutions and opportunities for growth. What role for policy r...Read more...
You can also log in with your social media account by clicking the icons below
The TPP Timeline
Jeffrey J. Schott, Senior Fellow, Peterson Institute for International Econonomics
Addressing the Costs of Data Localization Requirements – Can APEC Lead the Way?
Ed Brzytwa, Information Technology Industry Council
TPP Now in Sight
Gary Clyde Hufbauer, Reginald Jones Senior Fellow, Peterson Institute for International Economics
APEC and FTAAP: Three Pathways and Six New Members
Malcolm Cook, Senior Fellow, Institute of Southeast Asian Studies