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The Emerging Regional Economic Integration Architecture in East Asia

Author

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  • Siow Yue Chia

    (Singapore Institute of International Affairs)

Abstract

This paper examines regional market integration through production networks and free trade agreements in East Asia and their attendant challenges and issues. It examines progress in the ASEAN Economic Community and in various ASEAN+1 free trade and economic integration agreements. It argues that there is a strong case for a region-wide agreement to maximize economic synergy and resolve emerging problems, including market fragmentation and the “noodle bowl” effect. It explores three possible paths to region-wide integration, namely, the East Asia Free Trade Area (encompassing ASEAN+3 [the People's Republic of China, Japan, and Korea]), the Comprehensive Economic Partnership for East Asia (encompassing ASEAN+3 countries and Australia—New Zealand and India) and the Trans-Pacific Partnership, currently involving nine negotiating countries in the Asia-Pacific Economic Cooperation. The paper explores the economic and political benefits and challenges of forming these three regionwide agreements. © 2013 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

Suggested Citation

  • Siow Yue Chia, 2013. "The Emerging Regional Economic Integration Architecture in East Asia," Asian Economic Papers, MIT Press, vol. 12(1), pages 1-37, Winter/Sp.
    • Handle: RePEc:tpr:asiaec:v:12:y:2013:i:1:p:1-37
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    Citations

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    Cited by:

    1. Siow Yue Chia, 2015. "Emerging Mega-FTAs: Rationale, Challenges, and Implications," Asian Economic Papers, MIT Press, vol. 14(1), pages 1-27, Winter/Sp.
    2. Euijune Kim & Seung‐Woon Moon & Yoojin Yi, 2021. "Analyzing spillover effects of development of Asian highway on regional growth of Northeast Asian countries," Review of Development Economics, Wiley Blackwell, vol. 25(3), pages 1243-1266, August.
    3. Masahiro Kawai & Ganeshan Wignaraja, 2014. "Policy challenges posed by Asian free trade agreements: a review of the evidence," Chapters, in: Richard Baldwin & Masahiro Kawai & Ganeshan Wignaraja (ed.), A World Trade Organization for the 21st Century, chapter 8, pages 182-238, Edward Elgar Publishing.
    4. Kenta Yamanouchi, 2019. "Heterogeneous Impacts of Free Trade Agreements: The Case of Japan," Asian Economic Papers, MIT Press, vol. 18(2), pages 1-20, Summer.
    5. Wignaraja, Ganeshan, 2014. "Assessing the Experience of South Asia–East Asia Integration and India’s Role," ADBI Working Papers 465, Asian Development Bank Institute.
    6. Sapkota, Jeet Bahadur & Shuto, Motoko, 2016. "Is Pan-Asian Economic Integration Moving Forward? Evidence from Regional Trade Statistics," MPRA Paper 106075, University Library of Munich, Germany.
    7. Andrey N. Spartak, 2017. "Metamorphosis of Regionalization: from Regional Trade Agreements to Megaregional Projects," Outlines of global transformations: politics, economics, law, Center for Crisis Society Studies, vol. 10(4).

    More about this item

    Keywords

    regional market integration; regional economic integration; free trade agreements; East Asia;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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