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    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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    Citable URI
    http://hdl.handle.net/11540/6753
    Metadata
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    WP299.pdf (1.047Mb)
    Author
    JI, XIANBAI
    RANA, PRADUMNA B.
    CHIA, WAI-MUN
    LI, CHANGTAI
    Theme
    Evaluation
    Trade
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise