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Multilateralism, Regionalism, Bilateral and Crossregional Free Trade Arrangements: All Paved with Good Intentions for ASEAN?


  • Linda Low

    (National University of Singapore)


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..

Suggested Citation

  • Linda Low, 2003. "Multilateralism, Regionalism, Bilateral and Crossregional Free Trade Arrangements: All Paved with Good Intentions for ASEAN?," Asian Economic Journal, East Asian Economic Association, vol. 17(1), pages 65-86, March.
  • Handle: RePEc:bla:asiaec:v:17:y:2003:i:1:p:65-86

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    Cited by:

    1. S.M. Thangavelu & Toh Mun Heng, 2005. "Bilateral “WTO-Plus” Free Trade Agreements: The WTO Trade Policy Review of Singapore 2004," SCAPE Policy Research Working Paper Series 0505, National University of Singapore, Department of Economics, SCAPE.

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