APEC Summit Was a Partial Success

The Asia Pacific Economic Cooperation summit in Hanoi was a partial success. While the late-night comedians were thrilled that Mr. Bush went to Vietnam 33 years later than he was supposed to go, the truth is this summit actually got some things done. The Vietnamese children who greeted the summiteers aren’t the only ones smiling.

The big winner in Hanoi was Russia, a headline that could have been written by any rightist back in 1975. However, in 2006, President’s Bush and Putin signed a deal to get the Russian Federation into the World Trade Organization. Since China is a member and claims to be communist, it seems rather odd that Russia isn’t in despite having given up communism (but not the gangsterism that went with it). Whatever quid pro quo Mr. Bush may have secured over North Korea or Iran pales in comparison.

China didn’t actually get anything out of the Americans, but with US$1 trillion in foreign reserves and a White House that doesn’t mind running multi-billion dollar monthly trade deficits with the ChiComs, anything Beijing wants it can buy. On North Korea, Chinese Foreign Ministry spokesman Liu Jianchao said, “We don’t really think that sanctions are the purpose, rather it is the means. The UN Security [Council] resolution should not be randomly interpreted and should not be expanded.” Or, for non-diplomats, “we gave the Yankees nothing.”

The final communiqué, though, showed just what kind of trouble the APEC nations have in economics. Noting that there are difficulties in creating a free-trade zone in the region, the members agreed to “undertake further studies on ways and means to promote regional economic integration, including a Free Trade Area of the Asia-Pacific as a long-term prospect.” Signing an agreement means a solution is a few years away. Negotiating an agreement means a decade is needed. “Undertaking further studies” means failure.

© Copyright 2006 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.

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