Coronary Circulation: Blood Flow, Regulation, and Factors
Coronary circulation supplies heart muscle with oxygenated blood through intricate arteries and veins. Phasic changes in blood flow are influenced by cardiac activity, while factors like oxygen demand and metabolic responses regulate coronary perfusion. Explore the dynamic mechanisms that maintain optimal blood supply to the heart.
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APEC Business Advisory Council ABAC Regional Economic Integration Working Group ABAC Taskforce on Strengthening Services Trade and Investment 2021 Mid-Term Review APEC Services Competitiveness Roadmap 2016-2025 ABAC Assessment of Outcomes & Recommended Adjustments Jane Drake-Brockman (Consultant) www.abaconline.org
Roadmap Targets Good news: The business story is mixed but APEC economies have jointly achieved significant progressive liberalisation across most services sectors. Figure 1: APEC/OECD: Services Trade Opening-Up Index , 2015-2020 Source: OECD Trade and Agriculture Directorate, STRI database for 14 APEC economies, 2020. Alert: The environment for digitally-enabled services is poor and deteriorating. 2020 alone saw 40 new data-related restrictions in APEC economies. 2
Given the business imperative of achieving greater interoperability and a more seamless regional market for digitally-enabled services, ABAC proposes an indicator for digital regulatory convergence Figure 2: Proposed APEC/OECD Digital Services Trade Convergence Index, 2020 0.600 Source: OECD Trade and Agriculture Directorate, DSTRI Dataset, 2020 0.500 The lower this index, the more regulatory similarity to other APEC economies 0.400 0.300 0.200 0.100 0.000 PER AUS JPN THA CAN USA MEX MYS NZL KOR IDN CHL RUS CHN
Alert: APECs progress on liberalization has not been sufficient for APEC to meet its other Roadmap targets. APEC s share of total world commercial services exports has not increased. On the contrary it has fallen. APEC s competitiveness in services has not improved; it has declined. Nor has the compound average annual growth rate of APEC s trade in services increased - on the contrary it has dropped significantly below the historic average. The good news is thataverage APEC economy services share of GDP is now above the world average.But the disconnect between the bad news on the trade side and the good news domestically only intensifies the original challenge which this Roadmap set out to address ie services industries are not reaching their potential for internationalization - indeed the problem has got worse. There is now a full 20 percentage point gap between the APEC average services share of domestic value added and exported value added. ABAC remains optimistic that APEC can get back on track. Services have grown as a % of total exports for every APEC economy and divergence across the region has significantly diminished. Indicators of underlying structural shifts suggest that with more effort on opening up, on regulatory cooperation & on stakeholder dialogue, APEC has a good chance of getting the services trade growth rate up over the historical average by 2025.
Overall Evaluation Many successful outcomes Major success stories include 2018 APEC Non-Binding Principles for Domestic Regulation of Services Sectors; Completion of the Pilot APEC Index to measure the regulatory environment of services trade in the region; Launch of the Virtual APEC Business Travel Card. Management of Roadmap work streams requires closer coordination to sustain focus on the services dimension to the work. More Public Private Dialogue on Services is essential. Where strong linkages exist between APEC initiatives and WTO processes, APEC economies should work in concert to build critical mass for multilateral outcomes. APEC economies should participate in the WTO Joint Initiatives, all of which are pertinent to Roadmap action items. The WTO JI on Services Domestic Regulation warrants APEC support to deliver for the 12th WTO Ministerial Council, the first and only outcome on services since the WTO was created. This would deliver an average 8% cut in regional trade costs for services businesses. All APEC economies to work toward permanent extension of the WTO Moratorium on Customs Duties on Electronic Transactions and to participate in the WTO negotiations on E-Commerce. 5
Concrete ideas for a collaborative sprint to 2025 40 recommended re-sets + 8 new initiatives + Business Partnership
Summary: ABAC Reset Recommendations for Existing Action Items No. Action 1 Services SMEs in GVCs Concrete ABAC Proposals New Focus on Export Promotion Toolkits, including customized tool kits for Born Globals and women entrepreneurs: PPD 2 Professional services New focus on value chain fragmentation globotics and regulatory arrangements for cross-border e-delivery 3 Business mobility Refocus to ensure all APEC economies are full members of the ABTC by 2025 and the Transition to Virtual ABTC is complete 4 Domestic regulation Capacity Building for implementation and on WTO JSI Outreach 5 Structural reform Refocus on Servicification, 4th Industrial revolution and Super Smart Society 5.0 5 recommendations: Refocus on developing the policy tools required for regional trade facilitation including for monitoring trade barriers and undertaking regulatory review; Pilot regulatory review on Adaptation and Mitigation services; PPD Refocus by introducing a PPD Series on Implications of Regional Servicification (Modern Manufacturing) Establish APEC Scholar designations to which internships of up to 9 months are attached and APEC Educator designations to facilitate up to 3 month research or teaching visits as well as cross-border online guest lectures to enhance curriculum development. 5 recommendations: Intensify collaborative work on digital standards development and take-up of Cross Border Privacy Rules; Digital Trade Policy Dialogue including on building on RCEP and CPTPP to develop governance for the APEC region 6 Environmental services 7 Manufacturing- related services Education services 8 9 Cross Border Data Flows
Summary: ABAC Reset Recommendations for Existing Action Items 10 Financial services Refocus on E Payments eco-system development and regulatory cooperation. PPD to encourage business take-up of Asia Region Funds Passport With connectivity issues already central, refocus on Freight Transport and Logistics Efficiency Refocus on Passenger Travel Safety Assurance and post pandemic regional Tourism Branding Develop a 6-monthly APEC Services Trade Barometer providing for more continuous monitoring of progress to at least the overall Roadmap targets to 2025 Introduce a PPD Series on Implications of Regional Servicification (Value Added Agriculture) Refocus from Energy Security to Energy Services Efficiency both Generation and Distribution Refocus as a matter of high priority on Easing Foreign Equity Limits to boost Regional Inward FDI flows Integrate with Item 19 Services Innovation and refocus on Developing Innovation eco-systems to facilitate SME Uptake of Digital Technologies Refocus on Fast Mobile Broadband infrastructure and testing and deployment of 5G Integrate action item 17 (SME Integration in Digital Economy) & refocus on Developing Innovation Eco- systems to facilitate SME Uptake of Digital Technologies) Extend the work across a broader set of APEC fora. 11 Transport services Tourism & Travel services Services statistics 12 13 14 Services in regional food system Energy Services 15 16 Commercial Presence mode 3 MSME digital economy inclusiveness ICT infrastructure Services Innovation 17 18 19
New Initiatives 1. Essential Services Proposed APEC Declaration on Facilitating Essential Services Health Services Concerted action to support innovation and facilitate APEC citizens access to safe & effective telehealth and e-health options E-Services Concerted action to facilitate cross-border online delivery of a wider range of digitally-enabled services E-Commerce related services Concerted action to facilitate regional trade in specific services which are fundamental to e-commerce, for example ICT services, transport services, logistics-related services, e- payments services and especially computer services, which are not already covered under any existing action item. 2. 3. 4.
New Initiatives 5. Built Environment-related Services Concerted action to incentivize MRA development in engineering and architecture by focusing explicitly on facilitating regional trade in construction services. Creative services, Multi-Media Entertainment, Gaming and Cultural services Concerted action to provide B2B GVC APEC networking, business matching and trade fair displays in the context of a High-level APEC PPD on Born Digital, Born Global SMEs, for example during the annual CEO Summit. Mining Services PPD Series on Servicification (Mining Technology, Equipment and Services) Individual Action Plans Biannual Collective Peer Review of ASCR-related and RAASA-related action listed in IAPs 6. 7. 8.
Business Partnership Offer Lifting APEC services trade openness up to & beyond the world average requires APEC economies to make dedicated domestic reform efforts. APEC capacity building needs to be better geared to assisting those structural and regulatory reform efforts. ABAC proposes that future workshops and seminars geared to implementation of Roadmap action items should be conducted hand-in- hand with regional business stakeholders. ABAC and APSC should be invited to contribute business perspectives in such activities, from conception & design through to event delivery. Time and travel costs of achieving private sector participation are hugely reduced as a result of the new options which have now arisen for online and hybrid face-to-face and online event delivery.
Business Expectations concerted regional policy responses to the pandemic intensive efforts to attract inward FDI in services reversal of current fragmentation of the regional market for cross-border online supply of services and associated cross- border data flows high impact regulatory cooperation for cross-border regulatory interoperability & trade cost reduction for SMEs reactivation of public-private dialogue to improve regional understanding of servicification & role of services in GVCs concerted outreach efforts to build critical mass on services trade reform atmultilateral level more frequent, more transparent, monitoring of Roadmap outcomes, better coordination of related internal work streams and closer alignment between EC & CTI on structural reform
