Word: australia
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...billion people, 60% of the world's production, half of its trade, and its three biggest economies, the U.S., China and Japan. And while many Australians confuse APEC with ASEAN or even the OECD, no other regional organization matters more to their prosperity. APEC members account for 70% of Australia's trade and 8 of its 10 biggest export markets. And, says Australian Foreign Minister Alexander Downer, "The center of gravity of global affairs is moving more and more to the Asia-Pacific...
...APEC exists to promote economic growth through freer trade, but for this summit Australia, using its prerogative as host, has put climate change at the top of the agenda. Some may connect this with the fact that there's a national election coming up, but Downer believes "APEC very much has the potential to launch a new approach on the issue." Last year Australia helped launch the Asia-Pacific Partnership on Clean Development and Climate, five of whose six members belong to APEC. Rejecting Kyoto Protocol-style restrictions, the AP6 vowed a voluntary, collaborative effort to promote clean-energy technologies...
...Making climate change a priority at the leaders' summit was "a mistake," says John Edwards, chief economist in Australia for the HSBC financial group. Since the U.N. already has a framework for addressing the issue, he argues, APEC's impact will be negligible. Meanwhile, "they have missed the opportunity to do something serious on the issue of trade, by advancing the concept of an overarching free-trade agreement for the region...
...gritty you can almost feel the sting of a painkilling needle. He took the script to a friend, businessman Anthony Coffey, who with Nable and director Andrews formed The Three Scallywags, a production company that would turn Nable's words into Winter, which opens Sept. 6 in Australia and later in the year in New Zealand...
...Scene two unfolded seven weeks later, approaching midnight on a Saturday in November, when Mitchell filed into a room in the bowels of Sydney's Telstra Stadium to face the world's media. In a boilover, his side had just lost its semi-final against Australia. Mitchell's black blazer highlighted the absence of color in his face. With dignity, he answered every question, some of them insulting like, "Did you have a game plan tonight?" But he looked and sounded like a man who'd just foreseen the end of the world. Within a month, the New Zealand Rugby...