Newsletter from the Pacific Economic Cooperation Council (PECC)
ISSUES
Services, energy, and inclusive growth strategies key to economic recovery
20th PECC General Meeting
Washington DC, USA | September 29, 2011
 The 20th General Meeting of the Pacific Economic Cooperation Council was held in Washington D.C. on 29 September. The gathering of policy experts from business, government and the academia met under the theme of the "State of the Region". The meeting tackled critical issues to spurring sustainable growth including: how to make it easier to trade services which now are the largest part of most of the region's economies; how to make growth more inclusive to ensure no segments of society get left behind; and how to make progress on the Trans-Pacific Partnership (TPP). Also addressed in the meeting were some of the underlying structural issues in the Asia-Pacific economy: the risk of long-term unemployment and policy frameworks to create jobs; energy security issues; and the fundamental changes that have taken place in the trading system since the launch of the WTO Doha Round.
Assistant Secretary of State for East Asian and Pacific Affairs, Kurt Campbell underscored the importance of continued strategic alliance with the Asian economies and reaffirmed the US’s commitment to the region at the opening address. More...
Program agenda with presentations
Zooming in on the structural unemployment in the Asia-Pacific
26th Pacific Economic Community Seminar
Taipei, Chinese Taipei | October 13-14, 2011
 The recent global crisis had serious impacts not only on economic development but also on labor markets in the region. Current unemployment rates are still much higher than the pre-crisis level despite a GDP upturn, which implies that the unemployment problem could be structure-related. Accelerating the recovery of job markets is essential for reviving the economy as well as maintaining social stability. With the objective of addressing and studying the causes and impact of structural unemployment on the region, the Chinese Taipei committee for PECC is leading the international project and held the 26th Pacific Economic Cooperation Seminar on the topic, “Examining the Mid to Long-Term Structural Unemployment in the Asia-Pacific”. More...
Program agenda
Collective action needed to respond to climate changes and to better manage marine resources
Oceans at Risk: Protection from Ocean to Coast, Sharing Marine Resources
Noumea, New Caledonia | November 22-24, 2011
 The first of a series of three under the PECC International Project on marine resources (2011-2012), 'Oceans at Risk: Protection from the ocean to the coast, sharing marine resources' took place in Noumea, New Caledonia on 22-24 November 2011. The seminar brought together academics, scientists, policy-makers, and business executives to discuss and examine the consequences of climate change on oceans, exploitative versus responsible usage of marine resources as food, energy, and goods, treatment of solid and liquid waste in coastal areas, as well as ways to achieve sustainable management of biodiversity in and around the oceans. Case studies from different economies, best practices and innovative approaches were shared at this seminar.More...
Program agenda with presentations
Moving beyond Market Volatility to Foster Food Security
PECC Agricultural and Food Policy Forum 2011
Taipei, Chinese Taipei | December 1-2, 2011
 The goal of this conference was to explore the global issue of food security with particular attention to implications for the Asia-Pacific. Speakers from various sectors were invited to address the underlying causes of price instability, and how to foster resilience and food security by building sustainable agricultural-food systems to better serve the future needs of consumers, producers and the entire food chain. The participants examined pragmatic policy options of food security that can help to accelerate economic growth, social progress and environmental quality. Another objective of the project was to also look for ways to enhance coordination with APEC to address food security as an important element of individual security in the broader context.
This conference was sponsored by the Chinese Taipei Pacific Economic Cooperation Committee and took place during December 1-2, 2011 at the Riviera Hotel in Taipei. More...
Program aganda
UPCOMING EVENTS
Management of Marine Natural Resources and Renewable Energy (Seminar 2)
Last week of March 2012 (TBC) | Hawaii, USA
 The second seminar of PECC International Project on marine resources will take place in Hawaii, USA during the last week of March 2012. It will focus on ocean as source of renewable energy and the management of natural resources found in the ocean and coastal areas. Representatives from government, research institutions, and relevant industries will participate in the seminar to share some of the innovative ways to optimize usage of marine resources as renewable energy and on ways to achieve an integrated, sustainable approach in managing natural resources in the ocean. PECC member committees interested in contributing to the second seminar are invited to contact the PECC International Secretariat or FPTPEC.
MEMBER COMMITTEES
JANCPEC: PEO Structure subcommittee meeting, Osaka, Japan, November 18, 2011
JANCPEC held a sub-committee meeting of PEO (Pacific Economic Outlook) Structure group on November 18, 2011 in Osaka, Japan to discuss the new theme, "monetary policy regime."
As the coordinator of the project, Professor Akira Kohsaka invited the committee members to think about the current state of global economy and what needs to be done to strengthen it. Debates on discretionary versus inflation targeting monetary policies followed. In advanced economies, rule-based monetary policies represented by inflation targeting have been pursued. However, they failed to prevent the global asset market bubble bursts. In the case of emerging economies, by abandoning virtual dollar peg exchange rate systems, they were advised to adopt another nominal anchor, i.e. inflation targeting policies with flexible exchange rates and freer capital movement.
Dr. Peter Morgan (Senior Consultant for Research, Asia Development Bank Institute) was invited as a special speaker. He said that the Asian monetary policy responses were reasonably successful in dealing with the financial crisis but that financial stability needs to be better incorporated in the monetary framework. More...
NZPECC: Denis McNamara is the New Chair
 Effective October 3, 2011, Mr. Denis McNamara has been appointed the new chair for the New Zealand committee for PECC. Mr. McNamara is a consultant with Lowndes Associates as well as a long-time board member of NZPECC. He graduated from Auckland University with an honors degree in law and was admitted to the New Zealand bar as a barrister and solicitor in 1970. For most of his legal career, he has been a practising commercial/ corporate lawyer with a significant emphasis on direct foreign investment into New Zealand. He takes over from Dr. Coral Ingley. More...
NZPECC: (Obituary) Sir Frank Holmes – Public Economist and PECC Pioneer
For sixty years, Frank Holmes was a colossus of New Zealand's social and economic development. More...
AUSPECC: (Obituary) Remembering Jim Short
Jim was the ultimate professional in his work and the ultimate gentleman in his dealings with people from all walks of life and all cultures. He quietly went about his professional and personal activities without fanfare and without seeking acknowledgement. More...
PUBLICATIONS
State of the Region 2011-2012
 The State of the Region 2011-2012 report was released at the 20th General Meeting of PECC in Washington D.C. on September 29, 2011. Along with the economic outlook analysis, results of PECC annual survey of opinion-leaders, and economic integration index, this year's report has a special supplement which focuses on the transpacific energy trade prospects.
Click to download:
State of the Region 2011-2012 (pdf, 2.97MB)
Supplement: Prospects for Transpacific Energy Trade (pdf, 950KB)
Related press releases
Growing APEC Economies: New Challenges and Approaches
 Edited by: Tan Khee Giap, Eduardo Pedrosa, and Grace Aw
The two-day conference was co-organized by the Singapore National Committee for Pacific Economic Cooperation (SINCPEC) with the support of the United States Asia Pacific Council (USAPC). It gathered thought-leaders and decision-makers from across the region to discuss critical issues including the creation of employment, technology, economic growth and sustainability. This conference report is a compilation of presentations and discussions that took place during 29-30 June 2011 in Singapore.
Individual chapters are available for download
Program agenda with presentations
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Honolulu, Hawaii, USA | November 11, 2011
PECC Co-Chair, Dr. Charles Morrison delivered the PECC Statement at this year's APEC Ministerial Meeting in Honolulu. It included a policy brief on services trade, a joint project of PECC and ADBI. PECC delegation to APEC Leaders' Week 2011 consisted of:
Dr. Charles E. Morrison, Co-Chair;
Amb. Zou Mingrong, Executive Vice-Chair, CNCPEC;
Dr. Yang Zerui, CNCPEC;
Mr. Eduardo Pedrosa, Secretary-General, PECC International Secretariat
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