[originaltext]Passage One: Asia-Pacific Economic Cooperation (APEC) was est

Passage One:
    Asia-Pacific Economic Cooperation (APEC) was established in 1989 in response to the growing interdependence among Asia-Pacific economies. Begun as an informal dialogue group, APEC has since become the primary regional organization for promoting open trade and practical economic cooperation. Its goal is to advance Asia-Pacific economic dynamism and sense of community and it has now become a major contributor to global prosperity and stability. Today, APEC includes all the major economies of the region and the most dynamic, fastest growing economies in the world. In 1998, APEC’s 21 members had a combined GDP of over US $16 trillion and 42 percent of global trade.
Passage Two:
    There are powerful economic, social and political forces that have driven rapid expansion in higher education in the last several decades. Higher education is recognized as an important investment in human capital, which is essential to economic growth. In a world economy that is increasingly globalized, governments of many countries eager to promote economic growth and increase competitiveness are willing to invest in higher education.
    Besides economic considerations, social and political groups also champion the cause of higher education following the widening of access to primary and secondary education. Higher education is recognized as an important channel for upward social mobility for the lower and middle classes. Expansion in higher education will provide greater access and more equal opportunities to the under-privileged and can reduce social inequality.