At no time in three-quarters of a century has the world’s support for free trade been so weak.
It is in this bleak environment that the leaders of 21 APEC economies met over the weekend in Lima, Peru. When they meet in Seoul next year, with a new US president, their task will be even more daunting. Reasonable people will ask: why bother?
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Craig Emerson is managing director of Emerson Economics. He is a distinguished fellow at the ANU, director of the Australian APEC Study Centre at RMIT and adjunct professor at Victoria University’s College of Business.
