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G20 gives way to APEC

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G20 gives way to APEC

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Barely has the ink dried on the final communique from the G20 summit but nine of its participants are back around the table again.

This time it is the Asia-Pacific Economic Cooperation (APEC) gathering in Yokohama, Japan.

US President, Barak Obama, set a positive tone saying: “In the 21st century there is no need to view trade, commerce or economic growth as zero sum games where one country always has to prosper at the expense of another. If we work together and act together, strengthening our economic ties can be a win-win for all of our nations.”

While America’s economic recovery may be anemic, overall Apec represents the world’s fastest growing region.

For the first time, members are championing a collective growth strategy and over the weekend they hope to take concrete steps towards setting up a free trade area.