JAPAN ROLE IN ASIA-PACIFIC COOPERATION

The Asia-Pacific countries achieved rapid economic growth with the flying-goose model in the 1980s, growth buttressed by export-oriented development strategies and the policy culture in these countries. While Japan and the other Asia-Pacific countries still have strong growth potential, many problems remain, including trade imbalances with the United States and the rise of protectionism there, the Asia-Pacific economies’ vulnerability, and the need to consolidate the infrastructure for growth. It is imperative that Japan contribute to the development of the region by responding effectively to these issues and that it strengthen the international trading arrangements by promoting Asia-Pacific cooperation premised on openness. Given the region's great internal diversity, Asia-Pacific economic cooperation can well serve as a model for international economic coordination. © 1991, SAGE PUBLICATIONS. All rights reserved.