- SINCPEC Conference: Regional Cooperation takes a new dimension
- PEO Structure Group: 2nd Meeting on Monetary Policy Regime | September 21-22, 2012
- Management of Marine Resources and Oceans as a Means of Communication | December 4-5, 2012
- PECC Elects Don Campbell as New Co-Chair
- CTPECC: David Hong Appointed as New Chair
- NZPECC: Annual General Meeting | June 20, 2012
- TNCPEC: Thailand's Future in Asia Pacific Dynamism | June 19, 2012
- NZPECC: Sir Brian Talboys Passes Away
- CNCPEC: Annual Tianjin Fair & Expo | May 2012
- CNCPEC: Amb. Tang Guoqiang Appointed as New Chair
- [Publication] Examining the Mid- and Long-Term Structural Unemployment in Asia-Pacific (2012)
- Discussion Forum
- PECC in the News
ISSUES
SINCPEC Conference: Regional cooperation takes a new dimension
Experts of the Asia-Pacific region who gathered for the annual Singapore conference of the Pacific Economic Cooperation Council (PECC) assessed that the region would see continued sluggish growth in the next 12 months. This is largely due to the Euro zone expected to remain in recession for the time-being while domestic consumption also weakens in emerging economies. The speakers mainly representing policy think-tanks and government sectors from around the region voiced concerns with the projection of advanced economies moving beyond 100% debt versus GDP ratio by 2013. The region rebounded quickly in the aftermath of 1997-1998 financial crisis helped by strong export-led growth particularly seen in developing economies but it may not be the case this time. The speakers at the conference, held on April 26-27, 2012, said that the region’s policy-makers needed to think carefully about ways to improve fiscal stability and that it required a certain paradigm shift.
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EVENTS
PEO Structure Group: 2nd Meeting on Monetary Policy Regime | Osaka, Japan | September 21-22, 2012
PEO (Pacific Economic Outlook) Structure project group is addressing the topic of "monetary policy regime" this year. With the continued global economic downturns, we are witnessing small and large scale shocks on banking sectors and securities markets of both developed and emerging market economies. The aim of the project is to examine the degree of resilience of the regional financial architecture to the crisis.
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Seminar 3: Management of Marine Resources and Oceans as a Means of Communication, Auckland, New Zealand | December 4-5, 2012
The concluding seminar of PECC international project on marine resources will focus on marine infrastructure and technology for communication and transport across the sea waters. It will take place in Auckland, New Zealand on December 4-5, 2012, led by FPTPEC and hosted by NZPECC and the University of Auckland. Four key topics will be discussed at the upcoming seminar:
1. Identification and exploitation of deep sea mineral and energy resources;
2. Surveillance of oceans: Protecting fishing zones from non-authorized users, monitoring and fight against marine and coastal pollution, preventing potential environmental disasters;
3. Oceans as a means of communication: Enhancing the competitiveness of small island economies by developing sea transportation;
4. Development of high speed communication by optical fiber in the Pacific Rim to enhance economic and financial relations
Tentative program (version June 27, 2012)
MEMBER UPDATES
PECC Elects Don Campbell as New Co-Chair
At the Standing Committee meeting of the Pacific Economic Cooperation Council held in Singapore on Friday, April 27, 2012, Don Campbell, a Distinguished Fellow of the Asia Pacific Foundation of Canada and Senior Strategic Advisor for Davis LLP, has been unanimously elected Co-Chair of the Pacific Economic Cooperation Council (PECC). He is also the Chair of Canadian National Committee for Pacific Economic Cooperation (CANCPEC). Mr. Campbell’s former appointments with the Canadian government include Deputy Foreign Minister (1997-2000), Deputy Minister for International Trade (1989-1993), Ambassador to Japan (1993-1997), and Ambassador to Korea (1984-1985). From 2000 to 2007, he was Group President of CAE Inc. More...
CTPECC: David Hong Appointed as New Chair
Dr. David Hong has been elected as the new Chair for CTPECC (Chinese Taipei committee for PECC). Dr. Hong takes over from Dr. Jeffrey L S Koo, former CTPECC Chair. Dr. Hong is one of the founding members of PECC and has remained engaged in various PECC projects throughout the last thirty years. He is currently the President of Taiwan Institute of Economic Research (TIER). More...
NZPECC: Annual General Meeting | June 20, 2012
NZPECC held its AGM on June 20, 2012 in Wellington at the Ministry of Foreign Affairs and Trade. It was attended by all board members, a selection of extended membership, the Minister for Trade the Hon Tim Groser and chaired by Denis McNamara. A short socialising session followed the AGM. Minister of Trade, Mr. Tim Groser's address to PECC is available here (external link). More...
TNCPEC: Thailand's Future in Asia Pacific Dynamism, Bangkok, Thailand | June 19, 2012
The center of dynamism has shifted over the last six decades from the North Atlantic to the Asia-Pacific. Now is the era of the Asia-Pacific with extended connection to India/ South Asia and the Middle East., said Dr. Narongchai Akrasanee, Chair of TNCPEC. One can also see the changing patterns of Thailand's trade and investment vis-a-vis the rest of Asia-Pacific region. There has been noticeable change in investment from heavy concentration on foreign loans (62%) in 1995 to higher shares in portfolio investment and foreign direct investment (FDI) by 2010. Dr. Narongchai was speaking at a symposium organized by the International Institute for Asia Pacific Studies (INSAPS) on the occasion of the 50th anniversary of the Bangkok University.
Dr. Djisman Simandjuntak, Chair of INCPEC, spoke of the rise of Asia in world economy, where the former's share in world trade and investment flows, as well as knowledge output and competitiveness in sports and arts have visibly increased over the recent years. Still, there are many areas for improvement: there is sub-regional gap of prosperity within Asia; and access to health, education and capital are not balanced. Dr. Simandjuntak recounted the strengths and opportunities of Asian economies that must be harnessed, i.e. mastering the art of developing progressively, crafting an Asian community in an incremental way centered around ASEAN with eventual consolidation into a coherent architecture, and optimizing networks of functional co-operation with prospects for continued upgrade in the future.
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NZPECC: Sir Brian Talboys Passes Away
Sir Brian Talboys served as the first chair of NZPECC. He had a distinguished political career including being Deputy Prime Minister of New Zealand. Sir Brian passed away early June 2012 at the age of 90. Leave a message.
[photo: Sir Brian Talboys at 8th PECC General Meeting, Singapore, 1991]
CNCPEC: Annual Tianjin Fair & Expo | May 2012
The 19th Tianjin Fair and 8th PECC International Expo attracted participation from 26 economies, with over 8,500 companies represented including Unilever, Samsung, COFCO, and Shenhua. Mr. Jusuf Wanandi, Co-Chair of PECC, met with the Vice Mayor of Tianjin, Mr. Ren Xuefeng and recounted the continued success of Tianjin fair over the past years and renewed their mutual commitment to strengthening business ties across the Asia-Pacific region. Download Jusuf Wanandi's speech (pdf, 82KB)
CNCPEC: Amb. Tang Guoqiang Appointed as New Chair
Amb. Tang Guoqiang has succeeded Amb. Mei Ping as Chair of CNCPEC starting May 18, 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.
PUBLICATION
Examining the Mid-and Long-Term Structural Unemployment in Asia-Pacific (2012) ISBN: 978-986-85094-6-7
In economic theory, unemployment can be classifed into frictional, cyclical, structural, and classical types. The natural rate of unemployment is considered as sum of rates of frictional, structural, and classial unemployment. The cyclical unemployment rate is supposed to be zero when the economy is in full recovery or in a boom. However, in many Asia-Pacific economies, current unemployment rates are still much higher than the pre-crisis level despite a strong GDP upturn, which implies that the unemployment problem is no longer cyclical but structure-related.
To address and study causes and impacts of structural unemployment on the Asia-Pacific region in the post-crisis era, Chinese Taipei Pacific Economic Cooperation Committee (CTPECC) proposed international project: “Examining the Mid- and Long-Term Structural Unemployment in Asia-Pacific”. The 26th Pacific Economic Community seminar (October 2011), on which this publication is based, aimed to: a) examine the structural unemployment issues, phenomena and relevant impacts, b) analyze and explore factors that have caused structural unemployment, and c) identify potential solutions to the problem of structural unemployment in particular economy or the region. More...
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PECC Statement to APEC
PECC Update to APEC Senior Officials Meeting (SOM) 2 Kazan, Russia 2-3 June 2012
PECC Statement to APEC Ministers Responsible for Trade Kazan, Russia 4-5 June 2012
PECC in the News
Spotlight's on the trade ministers Business Times (Singapore) 5 June 2012
第19届津洽会暨第8届PECC博览会于15日圆满落幕 Xinmin 16 May 2012
第十九届津洽会暨第八届PECC博览会圆满落幕 China Binhai News 16 May 2012
APEC Moving to Realize FTAAP, Says Official ZamboTimes (Philippines) 1 May 2012
PECC Elects Campbell New Co-Chair Bernama 30 April 2012
APEC Paves Way for Realisation of Asia Pacific FTA Bernama 30 April 2012
Moving Towards Greater Regional Cooperation Business Times (Singapore) 27 April 2012
Engaging Myanmar a Top Challenge for Region: PECC Business Times (Singapore) 27 April 2012
Give Singaporeans the First Bite of the Cherry in Jobs: Don Business Times (Singapore) 27 April 2012
PECC Conference Sees Sluggish Regional Growth Bernama 27 April 2012
TPP talks 'very, very advanced': Singapore official TODAY online (Singapore) 26 April 2012
Trans-Pacific Partnership Trade Talks Are 75% Done - Singapore Official Dow Jones/ Wall Street Journal Online 26 April 2012
新加坡官员:围绕TPP的谈判工作已完成75% YTWHW.com 26 April 2012
Discussion Forum
Inclusive Growth is a Must for Myanmar
Datuk Mahani Zainal Abidin, Chief Executive of the Institute of Strategic and International Studies (ISIS) Malaysia and Chair of Malaysian National Committee for Pacific Economic Cooperation (MANCPEC)
The Institute of Strategic and International Studies (ISIS) Malaysia recently held a Roundtable on Myanmar to better understand the rapid political and economic changes taking place in the country and to learn more about the available business and investment opportunities. The delegation from Myanmar comprised a good mix of young and energetic corporate leaders as well as senior policymakers. Also present was an American academic who has been a longtime watcher of Myanmar. Needless to say, all were brimming with confidence about the country’s potential, although they were also remarkably frank about the challenges and possible pitfalls. One theme that came across, however, was that the country’s leaders were highly committed to continuing the reforms. More...
The Shifting Geography Of Global Value Chains: Implications For Developing Countries And Trade Policy Peter Draper: Immediate past chair and vice-chair, World Economic Forum Global Agenda Council on the Global Trade System
The importance of global production chains is reflected in the rising trade in intermediate inputs, which now represent more than half of OECD imports and close to three-fourths of the imports of large developing economies, such as China and Brazil. More...
The Trans-Pacific Partnership and Asia-Pacific Integration: Policy Implications Peter A. Petri (Brandeis University) and Michael G. Plummer (Johns Hopkins University, SAIS-Bologna)
The Trans-Pacific Partnership (TPP) agreement, now in negotiation among nine Asia-Pacific countries, could yield annual global income gains of $295 billion (including $78 billion for the United States) and offers a pathway to free trade in the Asia-Pacific with potential gains of $1.9 trillion. The TPP’s expected template promises to be unusually productive because it offers opportunities for the leading sectors of emerging-market and advanced economies. An ambitious TPP template would generate greater benefits from integration than less demanding alternatives, but it will be harder to sell to China and other key regional partners as the TPP evolves toward wider agreements. The importance of Asia-Pacific integration argues for an early conclusion of the TPP negotiations, without jeopardizing the prospects for region-wide or even global agreements based on it in the future. More...
APEC Photo Contest 2012
APEC Photo Contest 2012 seeks to promote a better understanding of APEC’s work among the general public. Participants are invited to submit a photographic interpretation of APEC’s work – in particular, contributing images that accurately reflect the meaning of APEC’s current year’s priorities: trade and investment liberalization, and regional economic integration; strengthening food security; establishing reliable supply chains; and intensive cooperation to foster innovative growth.
Up to four photographs per participant can be submitted by 1 August 2012. The Grand Prize winner will receive SG$2,000 and the opportunity for his or her photo(s) to be showcased in APEC publications. Second and third prize winner will receive SG$1,500 and SG$1,000 respectively.
In addition, the top 10 photos will be accessible for public voting at www.facebook.com/APECnews on 8 August 2012 for a two-week period. The photo with the most votes will win the APEC Popular Choice Award and receive SG$1,000. The Secretariat proposes to announce the winners during CSOM in Vladivostok, Russia.
For further contest information and submission details, please refer to: www.apec.org/photocontest.aspx
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