Nagano Shigeo: Business Leadership in the Asia Pacific Region and the Formation of the Pacific Basin Economic Council

Abstract

The Pacific Basin Economic Council (PBEC) was established in 1968 through the initiatives taken by the Japanese and Australian business leaders. This article focuses on the ideas and activities of the Japanese and Australian business leaders in the establishment of PBEC, especially those of Nagano Shigeo and W.R.C. Anderson, both of whom devoted themselves to the establishment of PBEC, while cooperating with each other. The central questions posed are: how and why Nagano and Anderson came to consider it desirable to establish an economic institution in the Asia Pacific region in the mid‐1960s; how and why those ideas were refined and transformed into the establishment of PBEC; what approaches business leaders in other countries took towards Pacific cooperation and how the Japanese and Australians adjusted different interests of people in other countries in organising PBEC. Finally, the article assesses the role played by PBEC in the development of economic cooperation in Asia and the Pacific and insists that it should help set up foundations for the subsequent organisations of regional economic institutions such as the Pacific Economic Cooperation Council (PECC) and the Asia Pacific Economic Cooperation (APEC) forum.