Pacific Rim

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Pacific Rim,

term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. The economic growth of the west coast of the United States has coincided with Japan's emergence as an economic superpower and with the rise of highly developed industrial economies in Taiwan, Singapore, Hong Kong, and South Korea. Tokyo, Los Angeles, and Hong Kong are all world financial centers. Twenty-one Pacific Rim states, including the United States and Canada, are members of the Asia-Pacific Economic Cooperation (APEC), which was established in 1989 to provide a forum for discussion on a broad range of economic issues, to encourage economic cooperation, and to promote trade among the market-oriented economies of the region. A permanent secretariat was established in Singapore in 1993. In the 1994 Bogor (Indonesia) Declaration APEC members agreed to establish a free-trade zone over a 26-year period. Twelve Pacific Rim nations, including the United States, signed the Trans-Pacific Partnership (TPP), an agreement to reduce or eliminate many tariffs and to set common standards on a number of trade-related issues, in 2016, but political criticism of the TPP in the United States subsequently made U.S. ratification unlikely, and President Trump withdrew (2017) from the agreement. The remaining 11 parties to the TPP signed (2018) a renegotiated Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which took effect at the end of 2018.
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References in periodicals archive ?
'The Philippines is positioning itself as the hub for aerospace manufacturing and aftermarket services in the Asia-Pacific Region. We have the young, educated and highly-trainable workforce that is a boon to investors,' Trade and Industry Secretary Ramon Lopez said.
While there are various ways that food can become contaminated, in the Asia-Pacific region poor hygiene and mishandling are among the main culprits.
So far, 19 countries and territories in the Asia-Pacific region have acceded to the PSMA and several more are in the process of doing so.
(MRSS), established in 2000, which is also committed to providing the highest-quality service to clients in the Asia-Pacific region.
PE2 said the five associations unanimously agreed to form the Asia-Pacific ESCO Industry Alliance, 'which shall serve as a regional platform for ESCO markets to facilitate knowledge exchange, capacity development, business matching, and if deemed feasible, development funding and capital flows between mature, developing and nascent ESCO markets in the Asia-Pacific region.'
Aquinox Pharmaceuticals Inc (NASDAQ: AQXP) and Astellas Pharma Inc (TYO: 4503) have entered into an exclusive licence agreement for Japan and specific other countries in the Asia-Pacific region for Aquinox's lead drug candidate rosiptor, the companies disclosed on Thursday.
Titan is managed by Titan Dining Partners Ltd., consisting of individuals with extensive experience in the food and beverage sector in the Asia-Pacific region.
Fitch Ratings had the largest market share of sovereign, structured finance and first time corporate cross-border debt issuances in the Asia-Pacific region in 2017 - as well as the largest share of international issuances in China's public finance sector and 100% of covered bonds issued in Australia and New Zealand.
The Asia-Pacific region is also home to a 'super-gonorrhoea' and potential outbreaks of epidemics similar to avian flu and zika, it says.
Moreland as well as the other witnesses discussed both the current challenges and the great potential in the Asia-Pacific region for American workers, farmers, ranchers, and entrepreneurs.
The summit's goal is to explore opportunities for collaboration to create positive impact and change across the Asia-Pacific region.
As a segment, the smart manufacturing market in the Asia-Pacific region should reach USD59 billion and USD151 billion in 2015 and 2020, respectively, on a five-year CAGR of 20.7 percent.

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