APEC's mid-life crisis? The rise and fall of early voluntary sectoral liberalization

This article examines the progress of the Early Voluntary Sectoral Liberali zation (EVSL) initiative within APEC, tracing serious tensions that have em erged within the regional regime. First, EVSL developed as a possible answe r to the uncertainty in APEC over whether it exists as an end in itself or as a means to other ends. Second, EVSL demonstrated clearly the problems th at can occur in APEC's deductive "pledge-then-deliver" approach to negotiat ing new initiatives. Third, the process of packaging fifteen EVSL sectors f or liberalization became in part a challenge to the principle of consensus, at the core of the regime. Finally, the divisions caused by EVSL can be se en as suggesting the rise of rival blocs within APEC. While the demise of E VSL has mitigated some of these tensions, some of its ramifications could y et appear.