Post on 23-Feb-2016
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APEC: In the mediaObama and Noda met in Hawaii with other national leaders
What is APEC?
• Asia-Pacific Economic Cooperation• 21 member countries• Started in 1989• From all sides of the Pacific Ocean• Goal: To build strong regional economy• Prevent economic conflicts
APEC dates
• Monday, Nov. 7 -- Sunday, Nov. 13• Top political leaders, like prime ministers, do not
stay for the full event. • They arrive at the end.
• Ministers and top staff members do most work.
In the past
• APEC has not been as useful as hoped.• Difficult to find solutions.• Countries with largest populations: China, India,
USA, Indonesia, Russia, Pakistan, Japan.• Developed nations (USA, Japan, Singapore).• Developing nations (China, India, Vietnam).
Many bilateral meetings
Host Nation: USA
• Obama chose his home state of Hawai’i.• Events in Waikiki hotels and convention center.• Luau at the Hale Koa Hotel.• It is owned by the U.S. military and sits on a
patch of government-owned land in Waikiki. • Nice place! Lots of space around it.
A few photos
• Take a look.
Convention Center
Waikiki
We once lived there
TPP
• Trans-Pacific Partnership agreement• Big story in Japanese media.• Nine nations have agreed to join.• Japan not sure, but Noda will join negotiations.• Some key issues for Japan-USA: • Quality of American beef.• Lower tariffs for Japanese car & electronics.• Lower tariffs on food produced outside of Japan. • Address Chinese trade pressure.
What is a tariff?
• A required fee paid by outside company that sells goods in another country.
• Japan’s car-makers pay a 2.5% tariff in the USA. • USA farmers pay high tariffs to sell food in
Japan.
The nine nations
• Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, United States, and Vietnam. • USA recently made free-trade deal with
South Korea. • South Korea car-makers = no tariff in USA.
What is a trade agreement?
• Sets rules and removes fees for selling goods in another member country.
• Creates winners and losers within each country. • Some industries gain better profits. Others can’t compete.
• Are they always good deals?• In principle, free trade improves conditions.• Lower prices for consumers.
• In reality, some people suffer from losses. • Situation now, without TPP, also is political.
The end -- Mahalo