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The Free Trade Area Of The Asia- Pacific : A Constructive Approach To Multilateralizing Asian Regionalism

Author

Listed:
  • C. Fred Bergsten

    (Asian Development Bank Institute (ADBI))

  • Marcus Noland
  • Jeffrey J. Schott

Abstract

This paper examines the prospect of realizing regional economic integration via the mechanism of a Free Trade Area of the Asia-Pacific (FTAAP). The FTAAP initiative represents a politically ambitious, high potential benefit option for achieving Asian regional integration. Among its desirable attributes, the FTAAP initiative could help revive and promote a successful conclusion of the Doha Round negotiations; constitute a “Plan B†hedge if Doha fails; short-circuit the further proliferation of bilateral and sub-regional preferential agreements that create substantial new discrimination and discord within the Asia-Pacific region; defuse the renewed risk of “drawing a line down the middle of the Pacific†as East Asian, and perhaps the Western Hemisphere, initiatives produce disintegration of the Asia-Pacific region rather than the integration of that broader region that the Asia-Pacific Economic Cooperation (APEC) forum was created to foster; channel the People’s Republic of China (PRC)-United States economic conflict into a more constructive and less confrontational context; and revitalize APEC, which is of enhanced importance because of the prospects for Asia-Pacific and especially the PRC-US fissures. An incremental approach to the FTAAP, explicitly embodying enforceable reciprocal commitments, offers the best hope delivering on the concept’s abundant benefits.

Suggested Citation

  • C. Fred Bergsten & Marcus Noland & Jeffrey J. Schott, 2011. "The Free Trade Area Of The Asia- Pacific : A Constructive Approach To Multilateralizing Asian Regionalism," Governance Working Papers 23200, East Asian Bureau of Economic Research.
    • Handle: RePEc:eab:govern:23200
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    Cited by:

    1. Perez-Restrepo, Camilo & Roldan-Perez, Adriana, 2016. "Is the Pacific Alliance a Potential Pathway to the Free Trade Area of the Asia-Pacific?," Philippine Journal of Development PJD 2014-2015 Vol. 41-42 , Philippine Institute for Development Studies.
    2. Ekaterina Y. ARAPOVA, 2017. "Ex-Post Analysis Of The Influence Of Tariff Liberalisation On Asean Exports," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 17(2), pages 135-154.
    3. Grochowska, Renata & Kosior, Katarzyna, 2013. "Agricultural policies in the context of regional and global food security concerns – the case of the Asian region," Problems of World Agriculture / Problemy Rolnictwa Światowego, Warsaw University of Life Sciences, vol. 13(28), pages 1-9, December.

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    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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