Word: pacificism
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Dates: during 1990-1999
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FRESH FROM HIS FREE-TRADE TRIUMPH in the Americas, Bill Clinton bounded onstage at the Asia-Pacific Economic Cooperation conference in Seattle last week, singing the glories of pan-Pacific free trade. Amity and optimism were watchwords as the U.S. President greeted leaders from 14 other APEC members, sat through...
The Clinton-Hosokawa bilateral was just one highlight of the conference, touted as being of historic importance. That was hyperbole, but not in almost 40 years had so many Asian and Pacific heads of state gathered in one place. And while no dramatic decisions were taken, U.S. officials constantly repeated...
Since exports have accounted for 55% of U.S. economic growth since 1987, tariff reductions of the kind ensured by NAFTA are certain to make American industry even more trade-oriented. Bill Clinton's effort to promote freer trade along the Pacific Rim also comes at a time when demand for...
Washington's flirtation with Asia is also designed to make Europe jealous. U.S. trade across the Pacific is already 50% greater than its transatlantic counterpart, a sizable change from 1980, when the figures were about equal. The European Community knows that APEC could provide the U.S. with a consortium to...
Should Washington ever try to push APEC toward becoming an Asian NAFTA, the task will not be easy. Less developed Pacific nations are averse to any trade pact that might compel them to lower tariffs protecting fledgling industries. If Clinton shows up in Seattle without a win on NAFTA, Asian...