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21 November 2018

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Just read the interview that Hufbauer gave on 10 July 2018 reported at
https://www.thefreelibrary.com/Interview+with+Dr.+Gary+Clyde+Hufbauer%2c+Nonresident+Senior+Fellow+at...-a0561461086
He was asked: ‘What do you think about the role of APEC?

His reply perhaps put into perspective some of the views on the recent APEC 2018 in PNG.

"APEC has become a bit like the G7 (which the US walked out of and thus devalued).

"The best thing APEC does is that the leaders meet and actually talk to one another and that reduces tension. But it will never be a rule-making body or an organisation giving much guidance.

"It is kind of an umbrella organisation that publishes useful things, a little like the OECD but not as strong. But it won't be a meaningful trade or investment rule-making body. It tried that in the beginning, but that hasn't transpired."

Maybe not. Other opinions suggest:

A. China will grow old before it grows rich.

B.China reportedly spends 40% of GDP on "security" [this is a serious economic disadvantage compared with USA].

C. China is losing appeal as nations wake up to its debt trap diplomacy.

D. China cannot feed itself, in food or commodities.

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