New Asian Regionalism in International Economic Law


Book Description

Provides the first systematic analysis of new Asian regionalism as a paradigm shift in international economic law.




Economic Integration in Asia


Book Description

The Regional Comprehensive Economic Partnership (RCEP) aims to achieve greater integration between the ASEAN region and its six free trade agreement (FTA) partners (India, China, Japan, Australia, New Zealand and Korea). The RCEP is the only agreement to include three economies which are among the seven biggest economies of the world—China, Japan and India. The book opens with an introduction to the current status of economic integration and factors that would affect it and looks at key issues like non-tariff barriers, evolving investment regulations in China (in the context of FTAs), connectivity initiatives to integrate the region, rules of origin in the context of value chain integration in selected sectors as well as region-specific aspects of South Asia and South East Asia which would shape the regional economic architecture going forward. With an attempt to cover key imperatives, the book concludes by noting primary impediments to easier trade and investment flows in the region, highlighting possible policy recommendations to improve economic integration.




Free Trade Agreements


Book Description

This book brings together international perspectives on free trade issues that affect civil society from the general populace to the governments of nations, and is relevant not only for lawyers, but also policymakers, international actors and businesses, as well as those with a general interest in free trade agreements. The book examines the manifestation of the concept of free trade in agreements, such as the Trans-Pacific Partnership (TPP), Regional Comprehensive Economic Partnership (RCEP), and China-Australia Free Trade Agreement (ChAFTA). It asks whether such agreements are entered into for the purposes of enhancing trading relationships between partner nations, strengthening commercial ties, and fostering economic growth; or are they sometimes used merely for local political outcomes of the most influential nations.




Trade Regionalism in the Asia-Pacific


Book Description

Asia has witnessed a proliferation of free trade agreements (FTAs) since the turn of the millennium. The first regional agreement — the ASEAN FTA — was transformed into the ASEAN Economic Community at the end of 2015. In the meantime, ASEAN forged five ASEAN+1 FTAs and began to negotiate a sixteen-member Regional Comprehensive Economic Partnership (RCEP) Agreement. In parallel, the U.S.-led Trans-Pacific Partnership (TPP), supporting U.S. foreign policy of “Pivot to Asia”, was broadly agreed in October 2015. The RCEP and the TPP are accompanied by other mega-regional integration processes developing elsewhere in the world, including the Transatlantic Trade and Investment Partnership for the European Union and the United States, and the Pacific Alliance among four Latin American member states. Meanwhile, APEC is also striving to meet its Bogor Goal targets and create a Free Trade Area of the Asia-Pacific. Each of these mega-regionals aims to achieve greater trade and investment liberalization and facilitation and more harmonized trade and investment rules so that all member economies can participate in the global value chain of production. Instead of undermining, these regional exercises can be building blocks for a more liberal global trading system supported by the World Trade Organization. This book ruminates on these regional agreements, their economic and strategic rationales and challenges during negotiations and afterwards. The book brings together eminent scholars and experts to deepen our understanding of the complex nature of the mega-regional trade agreements and their implications. It is useful both for the academic and research community and for policymakers who focus on trade and economic cooperation issues.







Dilemmas of a Trading Nation


Book Description

The balancing of competing interests and goals will have momentous consequences for Japan—and the United States—in their quest for economic growth, social harmony, and international clout. Japan and the United States face difficult choices in charting their paths ahead as trading nations. Tokyo has long aimed for greater decisiveness, which would allow it to move away from a fragmented policymaking system favoring the status quo in order to enable meaningful internal reforms and acquire a larger voice in trade negotiations. And Washington confronts an uphill battle in rebuilding a fraying domestic consensus in favor of internationalism essential to sustain its leadership role as a champion of free trade. In Dilemmas of a Trading Nation, Mireya Solís describes how accomplishing these tasks will require the skillful navigation of vexing tradeoffs that emerge from pursuing desirable, but to some extent contradictory goals: economic competitiveness, social legitimacy, and political viability. Trade policy has catapulted front and center to the national conversations taking place in each country about their desired future direction—economic renewal, a relaunched social compact, and projected international influence. Dilemmas of a Trading Nation underscores the global consequences of these defining trade dilemmas for Japan and the United States: decisiveness, reform, internationalism. At stake is the ability of these leading economies to upgrade international economic rules and create incentives for emerging economies to converge toward these higher standards. At play is the reaffirmation of a rules-based international order that has been a source of postwar stability, the deepening of a bilateral alliance at the core of America's diplomacy in Asia, and the ability to reassure friends and rivals of the staying power of the United States. In the execution of trade policy today, we are witnessing an international leadership test dominated by domestic governance dilemmas.




Mega-Regional Trade Agreements


Book Description

This book provides an in-depth analysis of "Mega-Regionals", the new generation of trans-regional free-trade agreements (FTAs) currently under negotiation, and their effect on the future of international economic law. The main focus centres on the EU-US Transatlantic Trade and Investment Partnership (TTIP), the Trans-Pacific Partnership (TPP) and the EU-Canada Comprehensive Economic and Trade Agreement (CETA), but the findings are also applicable to similar agreements under negotiation, such as the Regional Comprehensive Economic Partnership (RCEP).The specific features of Mega-Regional Trade Agreements raise a number of issues with respect to their potential effect on the current system of international trade and investment law. These include the consequences of Mega-Regionals for the most-favoured-nation (MFN) principle, their relation to the multilateral system of the World Trade Organization (WTO), their democratic legitimacy and their interaction with existing bilateral investment treaties (BITs).The book is intended for academics and practitioners working in the field of international economic law.




The Comprehensive and Progressive Trans-Pacific Partnership


Book Description

This volume provides comprehensive chapter-by-chapter assessment of one of the world's most important regional trade agreements, the TPP/CPTPP.




The Comprehensive and Progressive Agreement for Trans-Pacific Partnership


Book Description

"The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement involving major countries across the Asia Pacific region. The trade pact, which entered into force on 30 December 2018, is considered by many to be the “gold standard”, given its ambitious scope and depth. This volume offers multi-dimensional insights into the CPTPP and its impact on Southeast Asia. It begins with broad analyses covering the historical, economic and geopolitical aspects of the CPTPP. Subsequent chapters focus on the nature and implications of three key path-breaking provisions in the trade agreement, namely investor-state dispute settlement, intellectual property rights and state-owned enterprises. The effect of the CPTPP on Southeast Asia in terms of regional production networks is also examined from the perspective of Japanese multinational enterprises. The potential economic impact of the agreement is analysed for member countries (Vietnam and Malaysia) as well as countries that aspire to join the CPTPP in the future (Indonesia and Thailand). The world trading system is in disarray: the World Trade Organization has been weakened, perhaps terminally; the world’s two economic superpowers are locked in deep, politicized disputes; the forces of populism and nationalism are everywhere complicating the return to a more liberal, rules-based order. These trends are challenging one of the building blocks of ASEAN economic development, namely these countries’ outward-looking trade and investment policies. With impeccable timing this important volume by a group of eminent authors assesses these issues with reference to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The CPTPP excludes the three largest traders—China, the EU and the US—but it is a welcome second-best initiative that may have broader, positive ripple effects. This is the volume to read to gain a deeper understanding of the many complex issues at play." -- Hal Hill, H.W. Arndt Professor Emeritus of Southeast Asian Economies, College of Asia & the Pacific, Australian National University




China 2049


Book Description

How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.