Globalisation has thrown up issues which offer opportunities and pose threats to nations and the international system. Government leadership or public/private partnerships may provide the best approach to dealing with many of these. The Asia-Pacific Economic Cooperation process has shown a capacity to create trans-national public goods within its region. In the light of the difficulties currently facing APEC’s trade and investment agenda, such public good creation has become central to APEC’s activities. This short paper examines one of APEC’s most valuable functions.