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Taiwan's Asia Pacific Economic Strategies Post-ECFA

Author

Listed:
  • Shiro Armstrong

    (EABER)

Abstract

Up to this point, Taiwan has had discriminatory trade and investment policies towards China, severely limiting economic engagement across the Straits. Not having free and open trade with China, one of the largest and most important parts of the East Asian economy, has resulted in Taiwan underperforming in attracting FDI, effectively cut Taiwan off from participating fully in the East Asian production networks and prevented the deepening of its specialisation in the regional and international economy. The Economic Cooperation Framework Agreement is a watershed in cross-Straits relations and gives Taiwan the opportunity to integrate more fully into the East Asian economy. There will be pressure now for Taiwan to pursue preferential trade deals with other countries. This would not seem a sensible way forward; rather Taiwan should pursue a multilateral trade strategy and focus on domestic reforms that will bring larger economic gains, economic diversification and avoid the political risks to the cross-Straits relationship associated with preferential deals.

Suggested Citation

  • Shiro Armstrong, 2010. "Taiwan's Asia Pacific Economic Strategies Post-ECFA," EABER Working Papers 22810, East Asian Bureau of Economic Research.
  • Handle: RePEc:eab:wpaper:22810
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    File URL: http://www.eaber.org/node/22810
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    References listed on IDEAS

    as
    1. Philippa Dee, 2007. "East Asian Economic Integration and its Impact on Future Growth," The World Economy, Wiley Blackwell, vol. 30(3), pages 405-423, March.
    2. Shiro Armstrong & Peter Drysdale, 2009. "The Influence of Economics and Politics on the Structure of World Trade and Investment Flows," EABER Working Papers 22762, East Asian Bureau of Economic Research.
    3. Mitsuyo Ando & Fukunari Kimura, 2005. "The Formation of International Production and Distribution Networks in East Asia," NBER Chapters,in: International Trade in East Asia, NBER-East Asia Seminar on Economics, Volume 14, pages 177-216 National Bureau of Economic Research, Inc.
    4. Peter Drysdale & Xinpeng Xu, 2007. "Taiwan's Role in the Economic Architecture of East Asia and the Pacific," World Scientific Book Chapters,in: Economic Reform And Cross-Strait Relations Taiwan and China in the WTO, chapter 5, pages 149-185 World Scientific Publishing Co. Pte. Ltd..
    5. Ross Garnaut & David Vines, 2007. "Regional free-trade areas: sorting out the tangled spaghetti," Oxford Review of Economic Policy, Oxford University Press, vol. 23(3), pages 508-527, Autumn.
    6. Shiro Armstrong, 2007. "Measuring Trade and Trade Potential: A Survey," Asia Pacific Economic Papers 368, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Prema-chandra Athukorala & Nobuaki Yamashita, 2009. "Global Production Sharing and Sino-US Trade Relations," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(3), pages 39-56.

    More about this item

    Keywords

    trade policy; investment policy; FDI; Taiwan; Economic Cooperation Framework Agreement; East Asia;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General

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