Economic Integration in Asia Key Prospects and Challenges with the Regional Comprehensive Economic Partnership
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.
Introduction Part I: RCEP, Growth Corridors in Asia and Connectivity 1. The Evolution of the Regional Comprehensive Economic Partnership 2. Trade and Economic Integration for South Asia: Exploring Corridors and Dynamism in Asia 3. Connectivity: The Key to South Asia’s Integration in the Asian Region Part II: Selected Issues in Asian Economic Integration 4. RCEP and Non-Tariff Barriers (NTBs): Incidence, Issues and the Indian Perspective 5. The Legal Issues of RCEP Investment Rules: A Sino-ASEAN Perspective 6. Regional Comprehensive Economic Partnership: Facilitating Intra-Regional Value Chains through Rules of Origin Part III: Regional Perspectives within Asia: India, ASEAN 5, CLMV and South Asia 7. India’s Integration in Services with Asian FTA Partners 8. ASEAN-5 and its RCEP Priorities: Challenges and the Way Forward 9. Regional Comprehensive Economic Partnership: Prospects and Implications for CLMV 10. South Asia's Greater Integration in Asia: Looking beyond the RCEP 11. Economic Integration in the Emergent Global Landscape: An Argument for Asian Integration
‘The monograph provides a comprehensive and up-to-date overview on RCEP and elaborates on the major perspectives, issues and partners. It addresses the urgent need to understand how regional economic integration in Asia can have wider global implications.’ — Sangeeta Khorana, Professor of Economics, Bournemouth University, U.K.