Multilateralizing Asian Regionalism
Motivated by the proliferation of free trade agreements (FTAs) in Asia over the last decade, this paper studies the challenges faced by the Asian â€œnoodle bowlâ€â€”overlapping, multiple trade rules, regulations, and standards in Asiaâ€”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 approachesâ€”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 Asiaâ€“European Union FTA. The paper emphasizes the promising role of inclusive Asian regionalism and the need to move to global integration.
|Date of creation:||Aug 2013|
|Date of revision:|
|Contact details of provider:|| Postal: JG Crawford Building #13, Asia Pacific School of Economics and Government, Australian National University, ACT 0200|
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- 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.
- Michael G. Plummer & Ganeshan Wignaraja, 2006.
"The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future,"
CEPII research center, issue 107, pages 59-85.
- Plummer, Michael G. & Wignaraja, Ganeshan, 2007. "The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future," Working Papers on Regional Economic Integration 9, Asian Development Bank.
- Michael G. Plummer, 2007. "The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future," Working Paper Series 12-07, The Rimini Centre for Economic Analysis, revised Jul 2007.
- C. Fred Bergsten, 2007. "Toward a Free Trade Area of the Asia Pacific," Policy Briefs PB07-2, Peterson Institute for International Economics.
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