Since the early sixties, the pattern of international trade has undergone a significant realignment. This change has been in large part due to the phenomenal growth of the economies of the Pacific region, which has led to a remarkable rise in both int...
Since the early sixties, the pattern of international trade has undergone a significant realignment. This change has been in large part due to the phenomenal growth of the economies of the Pacific region, which has led to a remarkable rise in both inter-and intra-regional trade. Thus, trade has been a primary source of growth and development in many nations of the Pacific Basin, even in times of international economic crisis.
With the continuing erosion of the international trade system, however, it is becoming apparent that Pacific countries will have to work together closely in order to maintain their unprecedented trend of growth. Thus, since the late sixties, there habe been discussions on the establishment of the Pacific Economic Cooperation body among Pacific nations several times. Recently, in relation to the open economic policies of China and U.S.S.R., there has been much interest on the pacific economic cooperation.
Thus, this paper discusses pacific Econonic Cooperation which has been considered until now and the U.S.S.R.'s participation in the Pacific Economic Cooperation body. Finally, the issues and perspectives on the Pacific Economic Cooperation are considered.