Table of Contents

Regionalism, Trade and Economic Development in the Asia-Pacific Region

Regionalism, Trade and Economic Development in the Asia-Pacific Region

Edited by M. A.B. Siddique

This book is based on the premise that Regional Trade Agreements (RTAs) in the Asia-Pacific significantly impact on the material progress of the peoples of this region. These impacts – in terms of the benefits and costs associated with RTAs – will vary greatly from country to country. The internationally acclaimed contributors examine the theoretical perspective of RTAs in relation to exchange rates, the role and goals of the WTO and agriculture.

Chapter 6: Free Trade Areas and Economic Integration in East Asia: The View from China

Christopher Howe

Subjects: asian studies, asian development, asian economics, development studies, asian development, economics and finance, asian economics, international economics, regional economics, urban and regional studies, regional economics


Christopher Howe INTRODUCTION This chapter is divided into four parts. The first discusses major issues thrown up by past experience and analyses of regional economic integration and the light they throw on contemporary enthusiasms to establish Free Trade Areas (FTAs) in Asia. Second, we examine the major trends in China’s external sector and, in the third section, consider how these relate to Chinese approaches to trade policy. Finally we pull these strands together to examine what the FTA drive actually means in the Chinese context and what priorities Chinese trade policy is likely to adopt. Understanding Chinese thinking is by no means easy. These issues are open and debated so that there is no commanding official view on the subject and good material in English is rather limited.1 However, the Chinese trade literature is quite rich and combined with an examination of actions as well as words, at least the main outlines of what is happening can be identified. FREE TRADE AREAS: EXPERIENCE AND POLICY ISSUES Free Trade Areas are one of the simplest arrangements of all systems of regional integration. A brief listing of this hierarchy is shown in Figure 6.1, with the most advanced forms at the bottom of the chart. Before considering this sequence further, it is important to bear in mind that international economic integration requires as prerequisites a reasonable degree of economic institutional sophistication and a successful internal process by which barriers to trade and resource movement have been eliminated. On the basis...

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