Asia-Pacific Economic Cooperation (The Dragon Splits)

The Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim member economies that promotes free trade throughout the Asia-Pacific region. It was established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world; to defuse fears that highly industrialized Japan (a member of G8) would come to dominate economic activity in the Asia-Pacific region; and to establish new markets for agricultural products and raw materials beyond Europe.

APEC meetings are held annually in a city located within the host country and is usually attended by the heads-of-government except for the member state of Taiwan, which is represented by an official from the international designation known as Chinese Taipei.