The Free Trade Area Of The Asia-Pacific: A Constructive Approach To Multilateralizing Asian Regionalism
Bergsten, C. Fred; Marcus Noland; Schott, Jeffrey J. | December 2011
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 (PRC)-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.
CitationBergsten, C. Fred; Marcus Noland; Schott, Jeffrey J.. 2011. The Free Trade Area Of The Asia-Pacific: A Constructive Approach To Multilateralizing Asian Regionalism. © Asian Development Bank. http://hdl.handle.net/11540/3929. License: CC BY 3.0 IGO.
Regional Trading Arrangements
Regional Trade Integration
Regional Economic Integration
Regional Development Bank
Access to markets
International trade law
Regional economic disparities
Regional economic blocs
Industrial arbitrationShow allCollapse