One of the reasons prompting the establishment of APEC was fear of the emerging geographically discriminatory arrangements in Europe and North America. Furthermore, the possibility of collapse of the Uruguay Round of the GATT (General Agreement of Tariffs and Trade) added with the growing conflict between the US and Japan exacerbated the idea of open regionalism and market-led integration in APEC (Higgott and Stubbs 1995: 519; Higgott 1996: 4)...
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Therefore, to maintain a liberal multilateral trading order these two concepts had become pivotal to APEC. This essay will constitute of three parts. The first section will concentrate on the theoretical perspective in the evolution of APEC and how the ideas of "open regionalism" and "market-led integration" became entrenched within it...
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