Does APEC stand for more than 'aging politicians enjoying cocktails?' by Kelly Olsen
BUSAN, South Korea (AP) - What's it all about, APEC? That's the question each time leaders from the Asia Pacific Economic Co-operation hold their annual summit.
Wags have mocked the summit as "four adjectives in search of a noun" or "aging politicians enjoying cocktails." Other critics call APEC ineffectual, or say its emphasis on pushing free trade comes at the expense of developing countries and the poor. Officials of the 21-member forum insist the meeting is more than just a talk shop. Still, this year's gathering in Busan was typical: it focused on how to respond to trouble within the World Trade Organization - an issue that lies outside the confines of APEC and that the APEC summit covered five years ago.
After six days of preparatory meetings by senior officials, ministers and leaders, the summit Saturday called for a breakthrough on WTO global trade talks. And no one is certain anyone outside APEC will listen - even though the summit has the collective clout of seven of the world's largest economies and almost one-half the world's trade. Australian Foreign Minister Alexander Downer, for one, wasn't worried APEC might be setting itself up for embarrassment if the forum is unable to push a successful conclusion to the WTO talks.
"APEC will meet again next year whether they succeed or fail," he said.
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