The Asia-Pacific region has witnessed a rapid rise in bilateral preferential trade agreements at the beginning of the twenty-first century. This trend could have potentially dramatic effects on the trading patterns of countries in the transpacific region and beyond. Some argue that these accords will spur multilateral negotiations, while others believe that they will irreparably damage the trading system.
Bilateral Trade Agreements in the Asia-Pacific examines the underlying political and economic factors driving these accords, based on a novel theoretical framework. Experts then provide overviews of political and economic trends in the region as well as detailed analysis of the trade strategies of Japan, China, Singapore, South Korea, Malaysia, Taiwan, Thailand, the United States and Mexico.
By systematically evaluating and assessing the driving forces underlying the turn to bilateral trade agreements in the Asia-Pacific, this book provides the first comprehensive analysis of this crucial phenomenon. Growing numbers of countries both in the region and elsewhere in the world are now considering further negotiation of bilateral trade accords. Understanding how these arrangements will fit or conflict with existing institutions in the Asia-Pacific and the WTO makes this book imperative reading for policy-makers and scholars.
PART I Theoretical framework and economic overview 1. Bilateral trade agreements in the Asia-Pacific by VINOD K. AGGARWAL 2. The political economy of the new Asia-Pacific bilateralism: benign, banal, or simply bad? by JOHN RAVENHILL 3. Bilateralism in the Asia-Pacific: an economic overview by FUKUNARI KIMURA
PART II Case studies 4. Japan: a new move toward bilateral trade agreements by T.J. PEMPEL AND SHUJIRO URATA 5. US trade arrangements in the Asia-Pacific by RICHARD E. FEINBERG 6. Chinese trade bilateralism: politics still in command by ELAINE S. KWEI 7. From multilateralism to bilateralism? a shift in South Korea’s trade strategy by MIN GYO KOO 8. Who rules the international economy? Taiwan’s daunting attempts at bilateralism by ROSELYN Y. HSUEH 9. Singapore trade bilateralism: a two track strategy by SEUNGJOO LEE 10. Why countries are so eager to establish bilateral free trade agreements: a case study of Thailand by KOZO KIYOTA 11. The reluctant bilateralist: Malaysia’s new trade strategy by YUMIKO OKAMOTO 12. Free trade beyond NAFTA: the economic and institutional rationale for Mexico’s bilateral trade agenda by RALPH ESPACH
PART III Conclusion 13. The evolution and implications of bilateral trade agreements in the Asia-Pacific by VINOD K. AGGARWAL AND MIN GYO KOO
'This book is important, timely and crucial reading for anyone interested in the future of the Asia Pacific.' - Ann Capling, University of Melbourne
'Uniformly comprehensive, informative and engaging.' - Asian Pacific Economic Literature, Volume 20, Issue 2