英文摘要 |
The 1997 financial crisis in Asia was the first serious challenge faced by the APEC members in the entire nine years of the organization's history. A number of APEC members currently have serious economic problems and need assistance. A proposal to create a special bailout fund of up to $100 billion for Asian economies was rejected by the organization however. In Vancouver, APEC officials supported the idea of cooperative financing arrangements that could supplement the IMF. In other words, APEC leaders have agreed that APEC will not play a lead role in ameliorating the region's financial turmoil. This paper explores the factors that have affected APEC's original plan of establishing a new regional mechanism for Asian financial stability. It argues that a major reason behind APEC's failure to deal with the crisis was due to the organization's unique operating style which focuses on finding areas of consensus and often puts aside resolving the more difficult issues where agreement or political will is lacking. |