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Asia’s Strategic Participation in the Group of 20 for Global Economic Governance Reform: From the Perspective of International Trade

Author

Listed:
  • Taeho Bark

    (Seoul National University)

  • Moonsung Kang

    (Korea University)

Abstract

After considering the background to the G20 summit meetings after the recent global economic and financial crisis, this paper aims to identify the trade agenda that represents Asia’s concerns for the global and regional trading system. Asia, in particular East Asia, has played an important role in evolving the global production and trade networks. The regional production network in East Asia became the major transmission mechanism of the crisis, resulting in a trade collapse, but Asia experienced a relatively quick rebound, demonstrating that its network was not derailed. Asian economies have also shifted their policy focus from multilateralism to regionalism, even though there are several challenges such as underuse and a shallowness of their regional trade agreements. This paper recommends that the Seoul Summit seek tangible results on resolving the stalemate of the Doha Development Agenda to strengthen the credibility of G20, integrate individual free trade agreements into broader regional trade agreements, and link the development agenda to trade.

Suggested Citation

  • Taeho Bark & Moonsung Kang, 2011. "Asia’s Strategic Participation in the Group of 20 for Global Economic Governance Reform: From the Perspective of International Trade," Working Papers on Regional Economic Integration 74, Asian Development Bank.
    • Handle: RePEc:ris:adbrei:0074
    as

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    References listed on IDEAS

    as
    1. Dukgeun Ahn, 2003. "WTO Dispute Settlements in East Asia," NBER Working Papers 10178, National Bureau of Economic Research, Inc.
    2. Yap, Josef T. & Majuca, Ruperto P. & Park, Cyn-Young, 2010. "The 2008 Financial Crisis and Potential Output in Asia: Impact and Policy Implications," Discussion Papers DP 2010-11, Philippine Institute for Development Studies.
    3. Prema-chandra Athukorala, 2009. "Production Networks and Trade Patterns:East Asia in a Global Context," Departmental Working Papers 2009-15, The Australian National University, Arndt-Corden Department of Economics.
    4. Prema-chandra Athukorala, 2011. "Production Networks and Trade Patterns in East Asia: Regionalization or Globalization?," Asian Economic Papers, MIT Press, vol. 10(1), pages 65-95, Winter/Sp.
    5. Dr. Mitsuyo ANDO & Dr. Fukunari Kimura, 2009. "Fragmentation in East Asia: Further Evidence," Working Papers DP-2009-20, Economic Research Institute for ASEAN and East Asia (ERIA).
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Sherry Stephenson & Maryse Roberts, 2011. "Evaluating the Contributions of Regional Trade Agreements to Governance of Services Trade," ADBI Working Papers 307, Asian Development Bank Institute.
    2. Moonsung Kang, 2011. "An Analysis of Economic Impacts of FTAs on Strategic Industries in Jordan," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 14(4), pages 73-96, December.

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    More about this item

    Keywords

    global governance and Group of Twenty (G20); international and regional trade; global and regional p;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration

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