Political Economy of Northeast Asian Regionalism

Political Economy of Northeast Asian Regionalism

Political Conflict and Economic Integration

Edited by Jehoon Park, T. J. Pempel and Gérard Roland

This book is an objective analysis combining both ‘insider’ and ‘outsider’ (most notably US) perspectives of Northeast Asian regionalism. It also usefully applies regional integration theories to the realities of the Northeast Asian situation and presents policy options for regional integration.

Chapter 6: Economic Obstacles to a Northeast Asian FTA

Fukunari Kimura and Mitsuyo Ando

Subjects: asian studies, asian economics, economics and finance, asian economics, political economy, regional economics, politics and public policy, political economy


Fukunari Kimura and Mitsuyo Ando EVOLVING INTERNATIONAL ENVIRONMENT AND A NORTHEAST ASIAN FTA Although East Asia was regarded as a region lagging behind in the worldwide boom of regionalism until quite recently, such a criticism is no longer relevant. Table 6.1 presents the current status of FTA networking in East Asia as of July 2007; a double plus (ϩϩ) represents an FTA signed and/or that has come into force, a single plus (ϩ) denotes an FTA under negotiation or where negotiations have been agreed, and a sharp (#) means an FTA under consideration or for which a feasibility study has been initiated. Clearly, ASEAN is working as a hub of FTAs in the region, and India, Australia and New Zealand are coming into East Asia. Regardless of whether to support Northeast Asia, ASEANϩ3, or ASEANϩ6, FTA networking will surely proceed in the coming Table 6.1 Matrix of FTAs involving countries in East Asia (as of July 2007) Japan Japan Korea China ASEAN India Australia NZ ϩ # ϩ/ϩϩ ϩ ϩ Korea ϩ # ϩϩ^ ϩ # # China # # ϩϩ # ϩ ϩ ASEAN ϩ/ϩϩ ϩϩ^ ϩϩ ϩϩ ϩϩ ϩ/ϩϩ ϩ/ϩϩ India ϩ ϩ # ϩϩ Aus ϩ # ϩ ϩ/ϩϩ ϩϩ NZ # ϩ ϩ/ϩϩ ϩϩ Notes: ϩϩ: entered into force or signed (^: not signed for Korea–Thailand FTA). ϩ: under negotiation or agreed to negotiate. ϩ/ϩϩ:ϩfor plurilateral FTA and ϩϩ for some bilateral FTAs. #: under consideration (G-G base) or feasibility study initiated. 67 68 Political economy of Northeast Asian regionalism Japan Korea Canada Singapore Australia New Zealand Chile United States Mexico Being signed and/or in force Under negotiation or...

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