Comunidad del pacífico en perspectiva - Volumen 2

LA CoMUNIDAD DEL PAciFICO EN PERSPECTIVA / F. OrTego VicU1ia the Asian Pacific region and has focussed the attention of Pa– cific countries on the need to develop other relationships. Conversely, as opportunities for United States and Canadian trade decline in Europe, these two countries have increasingly turned to the Asian Pacific region, both to increase export opportunities and to finance cheaper imports. ~~~l ___ _ The dynamism of the Asian Pacific region is unlikeIy to disSl' pate quickly; indeed, the outlook is one of continued rapid growth. Despite high degrees of interdependence within the region, the existing development strategies for the orientation of foreign trade are likely to continue. Until recently, China has been a closed economy with little trade with the Asian Pacific region or indeed with the outside world, the occasional Chinese demand for grain being offset by mineral sales of various kind. FoIlowing a period of consolida– tion after the death of Mao, the leaders are now adopting a mo– re mercantile approach. The magnitud of Chinese aspirations for more rapid industrialisation will require the assistance of the to– tal world economy if they are to be .achieved. Despite this, it is likely that China will play an increasingly dominant influence in the Asian Pacific region. The Asian Pacific countries have largely recovered from the 1973-74 "oil shock", although this has resulted in structural shifts in the economic patterns and policies of the region. Japan was certainly the hardest hit, being solely reliant on oil imports, most of which come from the OPEe Middle East, and was forced to accept deflationary policies, inflationary pressures and declining econoIhic growth as a resulto The energy conservation approach by Japan has meant a de· emphasis on the heavy industrial sector. This in turn has had a stabilising effect on its requirements for raw materials. The drive to diversify its power sources away from oil towards steaming coa] and nuclear power has been intensified. At the same time, oil and natural gas exploration and production throughout the region has been increased considerably. Despite these endeavours, the oil situation as it stands today has 82