ABSTRACT
Termination of the Cold War once tempted former US President George Bush to proclaim the dawning of a “new world order,” an era to be marked by peace, prosperity, and international collaboration. Analysts have asserted that ending of the superpower rivalry would yield a “unipolar moment,” an unprecedented opportunity for the United States to shape the world community and promote cooperation. Countries around the Pacific Rim have generally relied on de facto and informal modes of integration, although members of the council for Asia-Pacific Economic Cooperation (APEC) have publicly proclaimed their intent to eliminate commercial barriers and achieve a free trade area by the year 2020. In a sense the APEC accord of November 1994 represents a compromise, since it includes the United States, but the vagueness of the plan and its protracted schedule make it difficult to evaluate the ultimate impact.
