Pacific economies

A map depicting the major oceanic cultures throughout the Pacific Ocean, including Micronesia, Polynesia and Melanesia.

Regional economic relations in the Pacific

The Pacific states did not undergo the same economic growth as their Asian counterparts.

For the Pacific, economic growth has been slower and less focused on foreign investment. Instead, comprehensive networks of economic integration and multilateral cooperation have been developed across the Pacific Island states. Sometimes this has led to conflicting interests, particularly as membership of competing regional groupings overlap. Structural adjustment and facilitating trade liberalisation among Pacific states have been key issues of consultation for states in the Pacific, alongside the formulation of rules and guidelines for international investment in the region.

Guidelines for your study of this section

Your self-directed reading for this Section should see you explore the main historical, theoretical and policy developments that have led to closer economic integration and cooperation in the Pacific region.

You should then explore the rapid growth of regional trading partners in the Pacific, particularly the formation of regional groupings like the Pacific Islands Forum. You should also locate sources on contemporary economic relations among regional trading partners in the Pacific.

Finally, it is important that you identify and describe the major financial tensions and crises that have impacted the region.