To understand our current political conjuncture involves understanding the neoliberalist trajectory that nurtured global value chains and how it triggered the current backlash culminating in Trump’s tariff extortion. Contrary to the claims of its proponents, neoliberal globalization was never about free markets. It always involved state intervention on behalf of corporations and investors. Through the IMF, WTO, and World Bank, the US-led global north empowered multinational corporations to exploit workers and resources in the global south by shielding them from democratic control, while dismantling the post-World War II social welfare gains within its own borders.  

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If you look at the news, the media treats the Asia Pacific Economic Cooperation (APEC) Forum more like a gala than a policy forum about regional economic policies. Despite high level meetings having occurred between the government and business interests (i.e., the APEC Business Advisory Committee), despite two senior official meetings having taken place, the media has done a negligible job of bringing the agenda and discussions in these meetings to public consciousness or debate. Instead, it has mostly focused on who will be there — K-pop megastar G-Dragon was named APEC Ambassador — or whether the accommodations and infrastructure are adequate. Little is mentioned about the specifics of the mostly closed-door discussions and decisions in the meetings and gatherings that will continue to take place between government ministers, experts, and corporations all the way up to the Leaders’ Summit on 30 October to 1 November in Gyeongju.

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