It has been said that the US wanted APEC to keep Asia down. But, a weak APEC has only forced Asia to create EAS withou the US. So, the US planned has back-fired.

IJ: Issues with the IMF and the US/Europe’s over representation has been a continueing grievence.

I dont think the US and Europe are ready to let go of their control over Bretton Woods institutions. And, I can understand why not, given the history and importance of these institutions.

The grouping does not include Russia, the EU or the United States. The alliance comes about because Asia thinks that its economically strengthening region deserves a bigger say in world affairs. There are signs of sympathy with this view in the International Monetary Fund, whose remit is to encourage financial stability worldwide:
“As Asia has become an increasingly important region, in terms of economic weight, so we have seen Asian governments strengthen their call for a greater formal role in international affairs-not least in the councils of organizations like the International Monetary Fund. The Fund management’s position on this issue is clear. We recognize that Asia has a powerful and legitimate claim to greater weight in the Fund than allowed for under the current rules. Asia has a voice, of course: it wields considerable influence in Fund discussions. But it is clearly under-represented. This issue is firmly on the agenda of the Fund’s shareholders ahead of the next Annual Meetings, in Singapore next year.”

a) maybe US can be flexible in thinking about the EAC?
b) if APEC will support the building of FTA, it would marginaliza EAS. but it is too late now.
it is what US failed to do in APEC that has led to today’s situation.