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Whither East Asian Regionalism? An ASEAN Perspective

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  • Siow Yue Chia

    (Singapore Institute of International Affairs 2 Nassim Road Singapore 258370)

Abstract

East Asia is catching up with the rest of the world in establishing regional trade arrangements (RTAs). This region is responding to pressures from globalization, regionalism in the Americas and Europe, the rise of China and India, improved political relations in the region with the end of the Cold War, as well as market-driven trade and investment integration and the emergence of production networks. ASEAN formed the first RTA in 1992, and by the turn of the decade, ASEAN was signing or negotiating free trade agreements (FTAs) with Japan, China, South Korea, India, Australia-New Zealand, and the European Union. It also entered into bilateral FTAs with the United States and countries in Latin America, Africa, the Middle East, and South Asia. ASEAN is also considering an East Asian FTA. Can ASEAN remain in the driver's seat of regional integration and be an effective hub? The FTA proliferation also has important consequences and effects for East Asia and the world trading system. (c) 2007 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

Suggested Citation

  • Siow Yue Chia, 2007. "Whither East Asian Regionalism? An ASEAN Perspective," Asian Economic Papers, MIT Press, vol. 6(3), pages 1-36, Fall.
  • Handle: RePEc:tpr:asiaec:v:6:y:2007:i:3:p:1-36
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    References listed on IDEAS

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    1. Jacob Gyntelberg & Guonan Ma & Eli M Remolona, 2005. "Corporate bond markets in Asia," BIS Quarterly Review, Bank for International Settlements, December.
    2. Mitchel Y. Abolafia (ed.), 2005. "Markets," Books, Edward Elgar Publishing, number 2788, September.
    3. Robert N McCauley, 2003. "Unifying government bond markets in East Asia," BIS Quarterly Review, Bank for International Settlements, December.
    4. William R. White, 2004. "Are changes in financial structure extending safety nets?," BIS Working Papers 145, Bank for International Settlements.
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    Cited by:

    1. Kawai, Masahiro & Wignaraja, Ganeshan, 2008. "Regionalism as an Engine of Multilateralism: A Case for a Single East Asian FTA," Working Papers on Regional Economic Integration 14, Asian Development Bank.

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