7 November 2014 (Beijing, China) – Progress towards a Free Trade Area of the Asia-Pacific (FTAAP) should be at the very top of the discussion agenda for APEC Leaders when they meet in Beijing for their summit, according to the Pacific Economic Cooperation Council’s (PECC’s) annual survey of the Asia-Pacific policy community.
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7 November 2014 (Beijing, China) – According to State of the Region report released today by the Pacific Economic Cooperation Council (PECC), one of APEC’s official observers, the region needs to undertake significant reforms over the coming months and years to maintain its strong growth. PECC’s annual survey of the regional policy community identified technological innovation; policy reform; trade (to both emerging and advanced economies); and investment in infrastructure as the future drivers of growth over the next 5-10 years. These engines are needed to replace the region’s reliance on exports as the primary engine of growth.
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7 November 2014 (Beijing, China) – According to the Pacific Economic Cooperation Council (PECC)’s 2014 survey of the policy community, 61 percent of respondents thought that the organization was just as, if not more, important today than it was when it was launched. However, this has not always been the case. “When we first started doing the survey we were struck by the ambivalence of the policy community towards APEC,” said Mr. Eduardo Pedrosa, Secretary General of PECC. In 2007, just as many respondents agreed as those who disagreed with the proposition that APEC was still as important as it was when it was founded.
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11 September 2014 (Beijing, China) – The Asia-Pacific economy is entering a new phase of growth. The region’s economies are now seen to be normalizing and are eager to get back on track to a higher trajectory of growth through structural reforms and deeper regional economic integration. However, regional economies face challenges including increased income inequality, bottlenecks in infrastructure, ageing populations, and climate change.
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11 September 2014 (Beijing, China) – One of the most pressing issues for China to tackle amidst its development is coping with various environmental concerns particularly heightened by rapid urbanization. With close to 1 percent of total Chinese population - or 13 million – migrating from rural areas to urban centers each year mostly in search of better income opportunities, there is an urgent need for Chinese policy makers to address these challenges.
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11 February 2014 (Singapore) – The global economy and in particular the advanced economies are recovering from the impact of global financial crisis in spite of the turbulence currently rocking in emerging markets. This ‘new normal’ as it emerges will be characterized by different patterns of growth especially in the US, China, and Japan. These developments will have direct impact on the rest of the region. Structural policy adjustments are urgently needed to make the best out of the given circumstances. Infrastructure development enabled by sustainable funding mechanism and improved physical connectivity are indispensable to ensure that the benefits of trade liberalization and regional integration be inclusive, equitable, and sustainable.
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