I. Executive Summary Overview of the Project From Brunei … This Report from the APEC Economic Committee responds to the “Action Agenda for the New Economy’ announced by APEC leaders at their meeting in Brunei in November 2000 and starts the task of underpinning the theme of “Meeting New Challenges in the New Century” for the 2001 year with China at the helm. Leaders in Brunei noted There is no doubt that the revolution in information and communication technology is dramatically boosting the development of a global economy.
It carries with it unprecedented opportunities in a new style of economy with new forms of markets, higher levels of productivity and new demands for knowledge, entrepreneurship and innovation. In their Declaration, Leaders noted that The Action Agenda includes ways to promote the right policy environment and build capacity …. The Leaders Action Agenda of 2000 built on earlier work within APEC and in particular on a report by the Economic Committee ‘Towards Knowledge-Based Economies in APEC”. That report analyzed the characteristics of a knowledge-based economy (KBE) in terms of four key dimensions:
innovation system, human resource development, information and communications technology infrastructure, and business environment. …to Shanghai The themes for China (Meeting New Challenges in the New Century: Achieving Common Prosperity Through Participation and Cooperation, with sub-themes:
Sharing the Benefits of the New Economy and Globalization; Advancing Trade and Investment; and Promoting Sustained Economic Growth.) “transcend the traditional boundary between trade and investment liberalization and facilitation, and economic and technical cooperation ….to revive the momentum of progress in APEC’s core mission of trade and investment liberalization …to foster a favorable macro-economic environment for the sustainable growth of the regional economy.” 1 1 See Leaders’ Brunei Declaration; italics added. - 1-