Economic and Strategic Dimensions of MEGA-FTAS: A Perception Survey of Asian Opinion Leaders
JI, XIANBAI; RANA, PRADUMNA B.; CHIA, WAI-MUN; LI, CHANGTAI | December 2016
Abstract
The advent of mega-free trade agreements (mega-FTAs) including the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership (RCEP) and the Transatlantic Trade and Investment Partnership (TTIP) is a defining feature of global trade governance in the 21st century. What are the costs and benefits of mega- FTAs? What is the political and strategic calculus behind mega-FTAs? Is there a “domino effect” triggering off the mega-FTA troika in a chain of reactions? Does mega-regionalism reinforce or undermine multilateralism? Since commonly used econometrics models cannot shed light on non-economic issues, this paper examines mega-regionalism by conducting a perception survey. This survey received responses from 648 opinion leaders located in 31 Asian countries. Respondents felt that mega-FTAs are good trade policy instruments that are “building blocks” to multilateralism. Linked by a “domino effect”, the mega-FTAs have important political and strategic dimensions. The United States wants to socialise China by writing high- standard “rules of the road” through the TPP. China then pivoted to RCEP to counter the TPP. Brussels through TTIP wanted to join the mega-FTA bandwagon to stay relevant. Additionally, remaining questions on decentralising global economic architecture highlight the need for regional and global institutions to complement each other.
Citation
JI, XIANBAI; RANA, PRADUMNA B.; CHIA, WAI-MUN; LI, CHANGTAI. 2016. Economic and Strategic Dimensions of MEGA-FTAS: A Perception Survey of Asian Opinion Leaders. © S. Rajaratnam School of International Studies. http://hdl.handle.net/11540/6753. License: CC BY 3.0 IGO.Keywords
Resources evaluation
Input output analysis
Import volume
Export volume
Export Development
Economic agreements
International market
Import policy
Export policy
Project Evaluation & Review Technique
Operations Evaluation
Evaluation
World Trade
Trade Volume
Trade Promotion
Trade Flows
Trade Development
Patterns Of Trade
Participatory monitoring and evaluation
Participative management
Foreign trade routes
Trade routes
Foreign trade and employment
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