The Asia Pacific Economic Corporation Essay

Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality. This then seems to be the essence of globalization - businesses

Recently, the Asia-Pacific Economic Cooperation or better known as APEC has been a hot topic in the Philippines. All the economies gathered in the Philippines for the annual meeting (November 18-19, 2015). The “Mexican Hottie” and the “Canadian Bae” has also been a trending topic since the APEC meeting. Due to the huge event, flight schedules had been cancelled (November 16-17, 2015.) to accommodate the arrivals of the presidents and prime ministers. The whole event was said to cost billions of Philippine pesos. So, what is APEC? What is its purpose? Has it been effective?

For an economy other than Australia, explain how government development strategies have responded to the process of globalisation.

This essay analyses the Australian-China bilateral relationship since 1945 and in particular its political significance to Australia. Many global factors have influenced this relationship, including the advent of the Cold War, the Korean War, the Vietnam War and the collapse of the Soviet bloc European nations. In addition, internal political changes in Australia and China have both affected and been affected by the global changes. It will be analysed that Australia’s bilateral relationship with China has always had a sharp political edge but that approaching the new millenium economics and trade considerations are shaping Australias and for that matter Chinese politics.

While not a direct member, Australia is also heavily involved in trading with members of ASEAN, a union of ten South East Asian countries whose goal is to produce economic growth amongst themselves. Australia is also a member of the World Trade Organisation (WTO). The WTO is an international organisation dedicated to providing a trading environment where trading can be undertaken without unfair taxing and tariffs, restriction or discrimination. Due to its position as an international economic powerhouse, Australia is able to deal with several countries around the world; its trade dealings rank in the billions.

     Over the past few years, Canada's economy has done comparatively well and has demonstrated some resilience to the fluctuating global economy. However, Canada remains to be relatively less competitive with respect to other developed countries. In this paper I will attempt to take a closer look at Canada's position in the global economy today and examine the relevant issues.

“I believe that the only plausible explanation for the different rates of growth is socialism in Britain, free enterprise and free markets in Hong Kong. Has anybody got a better explanation? I’d be grateful for any suggestions.” Milton Friedman asks us this in his 1998 essay: The Hong Kong Experiment. Milton Friedman was part and founder of a school of economic thinkers called the Chicago School. This group believed strongly in the power of Capitalism, and although there are many definitions for this form of economic policy, Friedman and this paper us the following definition: “the organization of the bulk of economic activity through private enterprise operating in a free market”. Friedman in the aforementioned essay attempts to show us the benefits which a capitalist nation has over a socialist one. He uses, specifically, the case studies of the United Kingdom, Hong Kong, and Israel. Through these examples he postulates that it was Hong Kong’s capitalist policies which allowed it to succeed economically. There is no debating that Hong Kong is something of an economic miracle. The island began as small rock covered with a few fishing villages, and ended up being a world economic power. Friedman, however, makes the error of oversimplifying the situation of Hong Kong in the thesis of his essay. Hong Kong, by its very nature, does not exist in isolation. It is greatly affected by world politics, long history, and its own geography. We must understand Hong Kong’s success as a

The Wang Group exhibits many characteristics of a typical Asian family firm. Their kinship relationship, succession plan, business continuity and family members hire are all similar. The Wang Group is first and foremost a family-owned business group, which has been active for four generations who carried the business tradition to the next generation. Therefore, the management of the Wang Group is cultured by the family dominance. The internal network of the firm consists of family members who work in the top positions of the company. This is exhibited by the positioning of Wang family

To properly consider the impact of integrating with the global economy on China, Japan, India and Southeast Asia, it is useful to first define the global economy. When did it come into being? Frank (1998) posits that a global economy had existed since the start of the thirteenth century. Although financial flows were limited, there was a burgeoning exchange of commodities between Asian and European economies. Of the Asian economies, China and India stood out for the extensiveness of their trade links and magnitude of their trade volumes. Both countries traded with Southeast Asia, the Islamic world, the Mediterranean and European countries. In addition, China traded with the Middle East and North Africa.

When one thinks of a major Chinese city such as Shanghai or Beijing, images of sidewalks overcrowded with pedestrians, thousands of bicycles lined on the streets and litter spotted throughout public areas may come to mind. However, with the modernization and industrialization China has gone through, urban citizens are now more frequently using public transport, automobiles are increasingly being used more and people are hired to keep streets as clean as possible. With a little over three decades having past since the major industrial development, China has industrialized at an astonishing rate. This is especially apparent when comparing its much higher industrializing rates to

Before the Trans-Pacific Partnership Agreement is signed, Malaysia has previously deals and signed some trade agreements with other countries as well. First of all, Malaysia had formed The Association of Southeast Asian Nations (ASEAN) in 1967 together with Singapore, Thailand, Philippines and also Indonesia. The main objective is to promote an economic and political cooperation and also the regional stability. In 1984, Brunei joined into ASEAN followed by Vietnam, Laos, Burma and Cambodia. (U.S. Department of State, nd) In 1992, Malaysia became part of the ASEAN Free Trade Area (AFTA) where the main objective is to rationalize the tariffs under the

Brunei, Malaysia, Vietnam, and Singapore are 4 of the 11 Association of Southeast Asian Nations (ASEAN) countries who pledged in this TPP agreement and thus will be benefited from the elimination of taxes and tariffs on importing and exporting products from and to the U.S. The problem, however, is that the ASEAN countries have also agreed to enter into the ASEAN Economic Community (AEC), where the 11 member countries will promote the free-movement of goods, services, investment, capital, and skilled labor. In another word, the AEC is aiming to establish one larger and stronger market while

As previously mentioned, the People 's Bank of China opened up the banking system and began allowing the emergence of state owned banks. The four state owned specialized banks that exist are Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), China Construction Bank (CCB), and Bank of China (BOC). The state owned banks were a success so in 1994 the Chinese government decided to open three more banks that were dedicated to specific lending purposes and policymaking. The banks include China Development Bank (CDB), Export-Import Bank of China, and Agricultural Development Bank of China.

The presence and influence of the private sector in Southeast Asia have never been strongly felt in the present time since the market collapse in the early 2000s. Governments and regional associations scurried in saving their economies by providing massive interventions in spending and funding. Much of the crises became the woe of the public and the private sector became more averse to business. Rohde (2011) posited that “restoring of financial confidence led to a permanent transfer of losses to the public sector, as the private sector’s risk takers were bought out.” Things were further exacerbated by the failure of banks to sustain inflow of capital to the already suffering privately-owned companies at that time. All of these problems piled up and forced the world economy to spiral down. The destructive debt collapse in the West affected most businesses in the East, albeit sparingly, as the Asian Financial Crisis in the latter part of the 1990s paved the way for Asian governments to place economic safeguards in order to insulate themselves from future drastic economic downturns.

Malaysia is situated along the Straits Of Malacca, connecting the Indian Ocean with the South China Sea and Pacific Ocean so trading in this area has been around for centuries. Spices were the main goods traded in the 15th century and as the Malacca Sultanate grew from strength to strength, it eventually gained a monopoly on all trade passing through the straits1. The Straits Of Malacca is still one of the most vital shipping lanes in the world.