APEC 2012 to be Held in Vladivostok, Russia
APEC 2012 to be Held in Vladivostok, Russia
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On the year 2012, the Asia Pacific Economic Cooperation, one of the stalwarts in promoting economic development in the Asia-Pacific region, will be holding its meeting in Vladivostok, Russia. For the first time in the history of APEC will the United States meet its former nemesis in a cooperative convention, as the two states were once known as head-to-head rivals in the pursuit of supremacy during the Cold War.
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The APEC 2012 will be history in the making, for a variety of reasons. First, the meeting finally recognizes Russia as a member state in the said alliance. This thus effects to highlighting Russia’s potential in boosting economic development through international trade. Upon the downfall of communism in 1991, Russia found it difficult to rebuild its economy, since it had to open up to the tenets of capitalism. In 2012, it is expected that the country can already play a vital role in economic progress, of course with the help of other member states, including its former rival, the United States.
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APEC2012 is important not only for Russia but for other states in the Asia-Pacific region. Russia’s participation in the said alliance will mean a new opportunity for other market economies to expand their target base for international trade, since they can now build economic ties with the country.
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In a sense, globalization has already succeeded in conquering states that have been worn and torn by the after effects of communism, and through it states have found a new way to revive their markets. Hence, once the APEC Russia takes place on 2012, globalization will be in full bloom.
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