So, we need to go back to 1989 again, when Francis Fukuyama so optimistically predicted “the End of History” that would usher in a world full of liberal democracies. A final form of human government was at hand, all hail the Goddess of Liberty!

But what followed in the next two decades was an unbridled rule of economic neo-liberalism, manifest in rapid globalisation and best embodied by the Asia-Pacific Economic Cooperation (Apec).

In the post-Cold War world, there remain many economies that are highly globalised - such as China, the United Arab Emirates and Vietnam - albeit minus political freedom. Some had a romantic tryst with liberal democracy, but reached for the reverse gear when it did not quite serve the state interests as expected, such as Russia and, to a lesser extent, South Africa.

Apec was founded with three pillars that remain intact to this very day, ie. to promote trade and investment liberalisation, to facilitate business and to foster economic and technical cooperation.

NONE Mahathir Mohamad ( left ), suspicious of a western agenda, boycotted the first summit in 1993 that was held in Blake Island, the United States, and was livid with rage when his Australian counterpart Paul Keating dismissed the significance of his absence rather contemptuously.

The result? Many Malaysians learned for the first time the meaning of the word ‘recalcitrant’ , and perhaps some Australians also.

While the initial idea of Apec was to provide a channel for consultative interaction among the Pacific Rim countries on economic issues, there is no denial that the event has since assumed a very strong political profile.

When Mahathir was confronted with the severest legitimacy to his iron rule in 1998, he sought to use the Apec Summit at Kuala Lumpur to not only show off his ‘economic achievements’ such as the North-South Expressway and the grandiose Palace of the Golden Horses (built by his favoured crony Lee Kim Yew), but also to consolidate his political power.

Too bad that Al Gore, the American vice-president, chose to put aside all diplomatic decorum and lent support to the reformasi movement in a tacit manner, right in front of Mahathir.

The irony was that Al Gore’s antics did not earn him any brownie points at home as he went on to lose the 2000 presidential election, while Mahathir managed to claim a pyrrhic victory over Anwar Ibrahim.

Meanwhile, the Shanghai Apec 2001 was the last opportunity for President Jiang Zemin to present his economic credentials before he stepped down, signalling also his success in leading China out of the shadow as an international pariah following the 1989 Tiananmen Massacre. The world’s largest market also joined the World Trade Organisation shortly after the summit in Shanghai.

Joining Apec as a counter-balance

Hence, the upcoming Apec Summit in Vladivostok represents a boost for Russia’s image as an emerging Pacific power. It is worth remembering here that Russia first joined Apec when the summit was held in Malaysia in 1998. It was also Mahathir’s unequivocal stance that the Eurasian giant should join the multi-state forum in order to counter-balance the overbearing influence of China, the US, Australia and Canada.

But the 2012 Summit - to take place between Sept 2 and 9 - got off to a rough start when Barack Obama announced that he would not be attending, citing the Democratic national convention at which the incumbent president would be nominated for re-election. Naturally, choosing a meeting in Russia - now a clear strategic competitor to the US - over an important domestic event in an election year would only give more ammunition to the Republicans.

NONE Still, Obama’s absence is perceived as a snub to President Vladimir Putin ( right ) who wishes to re-affirm his international leadership through the summit after his return to the Kremlin. There are also conjectures that Obama’s no-show is in fact a tit-for-tat subsequent to Putin’s non-attendance at the G8 Summit in Camp David earlier this year.

In any case, the Vladivostok Summit may signify Russia’s coming of age as an economic power, and restoration of Putin’s legitimacy. It could provide a platform to address various issues such as regional economic integration and food security, as well as a more balanced trade negotiation process.

Russia has long been neglected as a major Pacific country, despite that it has a lot to contribute to stabilising the simmering tensions in the Asia-Pacific region, ranging from the Sino-US competition, tumultuous Sino-Japanese relations and, closer to home, the increasingly virulent dispute across the South China Sea.

It is therefore crystal clear that Apec already took on a very strong political character since its inception, which has only become all the more marked in the years that followed. As the Putin administration is eager to regain its legitimacy, the presence of each and every head of state or government is of vital importance.

While Malaysia may not be a shining light at the star-studded club, Najib Abdul Razak’s presence would no doubt reiterate the importance that the country attaches to the yearly event (not to mention yet another opportunity for Rosmah Mansor to show her off as the self-styled First Lady).

After all, Russia is a huge market with enormous economic potentials to be tapped into. But Najib is perhaps preoccupied with the right timing for the next general election, even though no timing can arguably be right for him given the pathetic state that his ruling coalition is currently in.

JOSH HONG studied politics at London Metropolitan University and the School of Oriental and African Studies, University of London. A keen watcher of domestic and international politics, he longs for a day when Malaysians will learn and master the art of self-mockery, and enjoy life to the full in spite of politicians.