Asia-Pacific nations forge new trade pacts, reshaping global commerce
The paper discusses the challenges in trade policies in the Asia-Pacific region after the WTO Ministerial Meeting in 2011. It suggests that while global trade liberalization may be slow, regional free-trade agreements are becoming more important. These agreements are easier to negotiate and can lead to deeper integration among like-minded countries. The trend towards regional agreements in the Asia-Pacific region is expected to continue, benefiting regional economies and reducing costs associated with trade agreements. This "new regionalism" approach is supported by APEC and is seen as more advantageous than multiple bilateral agreements.