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Multilateralizing Asian Regionalism

Author

Listed:
  • Richard Baldwin

    (Asian Development Bank Institute (ADBI))

  • Masahiro Kawai

Abstract

Motivated by the proliferation of free trade agreements (FTAs) in Asia over the last decade, this paper studies the challenges faced by the Asian “noodle bowl†—overlapping, multiple trade rules, regulations, and standards in Asia—in the process of regional and global trade integration. The paper first highlights the importance of trade and investment linkages among Asian economies that have formed Asian supply chains, called Factory Asia. It then considers ways and means of multilateralizing Asian trade regionalism by discussing the pros and cons of various approaches—such as the Association of Southeast Asian Nations (ASEAN)-centered regional trade agreements, including the Regional Comprehensive Economic Partnership agreement, and cross-regional FTAs, including the Trans-Pacific Partnership agreement and a future Asia–European Union FTA. The paper emphasizes the promising role of inclusive Asian regionalism and the need to move to global integration.

Suggested Citation

  • Richard Baldwin & Masahiro Kawai, 2013. "Multilateralizing Asian Regionalism," Trade Working Papers 23553, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:tradew:23553
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    References listed on IDEAS

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    1. Michael G. Plummer & Ganeshan Wignaraja, 2006. "The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future," Economie Internationale, CEPII research center, issue 107, pages 59-85.
    2. Manchin, Miriam & Pelkmans-Balaoing, Annette O., 2008. "Clothes without an Emperor: Analysis of the preferential tariffs in ASEAN," Journal of Asian Economics, Elsevier, vol. 19(3), pages 213-223, June.
    3. Michael G. Plummer, 2007. "'Best Practices' in Regional Trading Agreements: An Application to Asia," The World Economy, Wiley Blackwell, vol. 30(12), pages 1771-1796, December.
    4. C. Fred Bergsten, 2007. "Toward a Free Trade Area of the Asia Pacific," Policy Briefs PB07-2, Peterson Institute for International Economics.
    5. Manchin, Miriam & Pelkmans-Balaoing, Annette O., 2007. "Rules of origin and the web of East Asian free trade agreements," Policy Research Working Paper Series 4273, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Kawai, Masahiro & Naknoi, Kanda, 2015. "ASEAN Economic Integration through Trade and Foreign Direct Investment: Long-Term Challenges," ADBI Working Papers 545, Asian Development Bank Institute.
    2. repec:wsi:serxxx:v:62:y:2017:i:03:n:s0217590818400040 is not listed on IDEAS
    3. Masahiro Kawai & Ganeshan Wignaraja, 2014. "Policy challenges posed by Asian free trade agreements: a review of the evidence," Chapters,in: A World Trade Organization for the 21st Century, chapter 8, pages 182-238 Edward Elgar Publishing.
    4. Pierre Sauvé & Anirudh Shingal, 2016. "Why Do Economies Enter into Preferential Agreements on Trade in Services? Assessing the Potential for Negotiated Regulatory Convergence in Asian Services Markets," Asian Development Review, MIT Press, vol. 33(1), pages 56-73, March.
    5. Hiro Lee & Ken Itakura, 2015. "Applied General Equilibrium Analysis of Mega-Regional Free Trade Initiatives in the Asia-Pacific," OSIPP Discussion Paper 15E001, Osaka School of International Public Policy, Osaka University.
    6. Masahiro Kawai & Ganeshan Wignaraja, 2014. "Evolving trade policy architecture and FTAs in Asia," Chapters,in: New Global Economic Architecture, chapter 7, pages 148-171 Edward Elgar Publishing.

    More about this item

    Keywords

    Multilateralizing Asian regionalism; free trade agreements; FTAs; noodle bowl; Trade integration; Factory Asia; ASEAN;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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