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Economists' Comments On APEC Supported By Greens

27 August 1999

Economists' Comments On APEC Supported By Greens

Comments by eminent International Trade Economist Dr Paul Krugman (on Morning Report this morning) that APEC is "an empty shell" and represents "meaningless generalities" has been supported by the Green Party.

Dr Krugman is a world renowned economist based at the MIT and was credited with predicting the Asian Crisis.

"Dr Krugman has confirmed what we have known all along," said Rod Donald.

"APEC is an expensive talk fest for greedy capitalists and bewildered politicians."

Mr Donald said Dr Krugman has in the past described the tiny size of theoretical free trade gains as economics' "dirty little secret",

"But perhaps it has been no secret to generations of GATT negotiators, who have trusted their mercantilist instincts," Rod Donald said.

ENDS

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