Multilateralism, Regionalism, Bilateral and Crossregional Free Trade Arrangements: All Paved with Good Intentions for ASEAN?
Current initiatives in Asia and Asia Pacific regionalism are responses to regionalism happening elsewhere in the context of globalization, information communication technology and knowledge-based economy. The conclusion is that many economies are 'having it both ways' in multilateralism under World Trade Organization (WTO) and new regionalism. The argument is that the 'first best' theory of free trade under multilateralism and WTO have fallen short. A 'second best' theory of new regionalism has been acknowledged by the Doha ministerial declaration to complement and supplement WTO. Both Asia challenged Asia-Pacific Economic Cooperation (APEC) and the Association of South-East Asian Nations (ASEAN) are challenged by ASEAN Plus Three (APT), which originated from the Asian crisis in the failed Asian Monetary Fund (AMF). Copyright 2003 East Asian Economic Association..
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Volume (Year): 17 (2003)
Issue (Month): 1 (03)
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