Global Economics Monthly: APEC: Getting Stuff Done
September 4, 2012
Speaking to a hall full of CEOs at last year’s Asia-Pacific Economic Cooperation (APEC) summit in Honolulu, President Obama got his biggest applause line when he announced that he had just signed a law approving the APEC Business Travel Card, enabling Americans to speed through airport immigration lanes in 21 economies from China to Chile. APEC policy initiatives rarely arouse such passion, but its ability to facilitate regional trade and investment through small but concrete actions like this makes the forum still an important part of the emerging regional architecture. As APEC leaders converge this week in Vladivostok, Russia has a tough act to follow.