EU versus APEC?

Question

EU versus APEC

i have to to this thing for my geography class. i need 7 reasons to explain why the "Asia-Pacific Economic Cooperation" won't ever have the same economical level "European Union" does.help:(

Answer 1

EU has more stability and the member countries are more cooperative in the observance of the agreed terms.  On the other hand, the US seems to benefit most in APEC and the poor countries seems to be exploited.  In EU, the benefit is more or less equal among the member countries since the economic and military gap are not that wide.

Answer 2

There are huge differences between these two organizations. First, as many of us know, one of the biggest successes of the EU is the Euro. About half of the 27 members share the same currency which allows better international transactions, ease of use for citizens and better exchange rates. A big difference is that APEC won't probably ever have that, mainly because the economic differences with the APEC nations. A big advantage of the Euro is the economic stability which APEC doesn’t have. One "bad apple" could topple the entire economy.

Another reason is the broad geographical locations of APEC nations. EU nations tend to be small and compact in a single area. The APEC nations are a little more spread out.

APEC is just an "agreement" between the nations. EU citizens share same laws and can actually participate in other countries elections, granted they have a "interest" in that country (work, dual residence).

Economic maturity plays an important role. The member nations of the EU share many qualities with economic interest (same taxes, same bank, ect). Individual APEC nations vary to much to have a stable "single" economy.

APEC also has something called "non-binding agreements," basically if you don’t follow the rules, there’s not enforcement. Where the EU has strict laws that governs the economy.

In the EU the people were ready to become "one." Over in Europe, people are very proud to be European. Not that APEC nations aren’t proud, just not ready to be called "one" People in Asia are proud of their culture and will identify with their own nationality first.

The EU has the European Bank, which determines tax rates and controls the Euro. APEC has nothing to this regard and its economy wont allow it to have its own bank at this time.

I think that's seven, but it's a start. Hope I could help you out!! Good luck!