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RCEP versus TPP with the Trump Administration in the USA and Implications for East Asian Economic Cooperation

Author

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  • Sang Chul Park

    (Graduate School of Knowledge based Technology and Energy, Korea Polytechnic University, South Korea)

Abstract

Objective: The objective of this article is to evaluate the two mega FTAs, namely RCEP and TPP in the Asia Pacific region in general and the new trends and directions of these mega FTAs with Trump Administration in the USA in particular. Moreover, it estimates implications for East Asian Economic cooperation. The article deals with possible impacts on the US withdrawal from TPP and post TPP visions. Furthermore, it also analyses what implications can be provided for East Asian economic cooperation. Research Design & Methods: In order to meet the research targets, various methods are used, such as the method of critical analysis of literature, the inference method, and the method of statistical analysis, which include quantitative and qualitative analyses. Findings: While investigating regional economic integration between RCEP and TPP with the member states, it is visible that the majority of the member states in the two mega FTAs are more dependent on RCEP than on TPP. It means that RCEP can generate more economic benefits to the member states in the region than TPP in the long run. Implications & Recommendations: It implicates that RCEP can play important roles in shaping new trade governance in the Asia Pacific region which could establish Asia Pacific Free Trade Agreement (APFTA). Contribution & Value Added: The originality of this work lies in exploring the two mega FTAs in the Asia Pacific region, how they have competed with each other and implemented their national trade strategies.

Suggested Citation

  • Sang Chul Park, 2017. "RCEP versus TPP with the Trump Administration in the USA and Implications for East Asian Economic Cooperation," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 5(4), pages 135-152.
    • Handle: RePEc:krk:eberjl:v:5:y:2017:i:4:p:135-152
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    References listed on IDEAS

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    1. Gopinath, G. & Helpman, . & Rogoff, K. (ed.), 2014. "Handbook of International Economics," Handbook of International Economics, Elsevier, edition 1, volume 4, number 4.
    2. Shujiro Urata, 2014. "Constructing and multilateralizing the Regional Comprehensive Economic Partnership: an Asian perspective," Chapters, in: Richard Baldwin & Masahiro Kawai & Ganeshan Wignaraja (ed.), A World Trade Organization for the 21st Century, chapter 9, pages 239-268, Edward Elgar Publishing.
    3. Melitz, Marc J. & Redding, Stephen J., 2014. "Heterogeneous Firms and Trade," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 1-54, Elsevier.
    4. Kawai, Masahiro & Wignaraja, Ganeshan, 2011. "Asian FTAs: Trends, prospects and challenges," Journal of Asian Economics, Elsevier, vol. 22(1), pages 1-22, February.
    5. Marc J. Melitz & Daniel Trefler, 2012. "Gains from Trade When Firms Matter," Journal of Economic Perspectives, American Economic Association, vol. 26(2), pages 91-118, Spring.
    Full references (including those not matched with items on IDEAS)

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    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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