Regionalism Versus Multilateral Trade Arrangements

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Overview

There is no doubt that the open multilateral trading system after World War II was a key ingredient in the rapid economic development of the entire world. Especially in Hong Kong, Korea, Singapore, and Taiwan, exports increased dramatically both in absolute terms and as a percentage of GNP. In the 1980s, however, preferential trading arrangements (PTAs) began to emerge as significant factors affecting world trade. This volume contains thirteen papers that analyze the tensions between multilateral trading systems and preferential trade arrangements and the impact of these tensions on East Asia. The first four chapters introduce PTAs conceptually and focus on the unique political issues that these agreements involve. The next five essays present more direct empirical analyses of existing PTAs and their economic effects, primarily in East Asia. The last four papers concentrate on the outcomes of individual East Asian nations' trading policies in specific instances of preferential agreements.

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Editorial Reviews

Booknews
Contains edited versions of 13 papers presented at a June 1995 seminar held in Seoul, Korea, analyzing tensions between multilateral trading systems and preferential trade arrangements (PTAs) and the impact of these tensions on East Asia. Early chapters introduce PTAs conceptually and focus on unique political issues these agreements involve. Later chapters present empirical analyses of existing PTAs and their economic effects in East Asia, and look at outcomes of individual East Asian nations' trading policies in specific instances. Annotation c. by Book News, Inc., Portland, Or.
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Product Details

Table of Contents

Acknowledgments
Introduction 1
1 Problems with Overlapping Free Trade Areas 9
2 The Political Economy of Mexico's Entry into NAFTA 25
Comment
3 Social Policy Dimensions of Economic Integration: Environmental and Labor Standards 57
Comment
Comment
4 EU, NAFTA, and Asian Responses: A Perspective from the Calculus of Participation 91
Comment
Comment
5 Open versus Closed Trade Blocs 119
Comment
6 Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA 141
Comment
Comment
7 Asia Pacific Capital Markets: Integration and Implications for Economic Activity 169
Comment
Comment
8 Recent Developments of APEC: Issues and Prospects of the Osaka Agenda 203
Comment
9 A Perspective on the Effects of NAFTA on Korea 223
Comment
10 Regionalism and Subregionalism in ASEAN: The Free Trade Area and Growth Triangle Models 275
Comment
Comment
11 Globalization and New Industrial Organization: Implications for Structural Adjustment Policies 313
Comment
Comment
12 Bilateral Negotiations and Multilateral Trade: The Case of Taiwan-U.S. Trade Talks 345
Comment
Comment
13 Economics and Politics of Rice Policy in Japan: A Perspective on the Uruguay Round 371
Comment
Comment
Contributors 405
Name Index 409
Subject Index 413
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