The Free Trade Area Of The Asia-Pacific: A Constructive Approach To Multilateralizing Asian Regionalism
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-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.
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| Length: | 23 pages |
| Date of creation: | 28 Dec 2011 |
| Handle: | RePEc:ris:adbiwp:0336 |
| Contact details of provider: | Postal: Kasumigaseki Building 8F, 3-2-5, Kasumigaseki, Chiyoda-ku, Tokyo 100-6008, Japan Phone: (81-3)3593-5500 Fax: (81-3) 3593-5571 Web page: http://www.adbi.org/ Email: More information through EDIRC
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References listed on IDEAS
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- Mary E. Burfisher & Sherman Robinson & Karen Thierfelder, 2001. "The Impact of NAFTA on the United States," Journal of Economic Perspectives, American Economic Association, vol. 15(1), pages 125-144, Winter.
- C. Fred Bergsten, 2005. "The United States and the World Economy: Foreign Economic Policy for the Next Decade," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 3802, November. Full references (including those not matched with items on IDEAS)
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