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Emerging Mega-FTAs: Rationale, Challenges, and Implications

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  • Siow Yue Chia

    (Singapore Institute of International Affairs)

Abstract

This paper examines the recent emergence of mega–free trade agreements, namely, the Asian-centric Regional Comprehensive Economic Partnership, the Trans-Pacific Partnership, and the Trans-Atlantic Trade and Investment Partnership. In a comparative context it discusses the rationale for their emergence; their distinctive membership features, objectives, and negotiating agendas; their quantifiable benefits and dissenting voices; issues and challenges; and likely outcomes. Aspirations for “high standards” are unlikely to be met because their negotiating timelines are repeatedly missed as negotiators struggle with political, diplomatic, commercial, economic, regulatory, and technical issues. Although negotiations appear relatively simple at the outset, their complex and daunting hurdles will ultimately limit their impact on the world trading system. © 2015 The Earth Institute at Columbia University and the Massachusetts Institute of Technology

Suggested Citation

  • Siow Yue Chia, 2015. "Emerging Mega-FTAs: Rationale, Challenges, and Implications," Asian Economic Papers, MIT Press, vol. 14(1), pages 1-27, Winter/Sp.
    • Handle: RePEc:tpr:asiaec:v:14:y:2015:i:1:p:1-27
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    File URL: http://www.mitpressjournals.org/doi/pdf/10.1162/ASEP_a_00310
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    References listed on IDEAS

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    1. repec:tpr:asiaec:v:12:y:2013:i:2:p:1-37 is not listed on IDEAS
    2. 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.
    3. Yoshifumi Fukunaga & Ikumo Isono, 2013. "Taking ASEAN+1 FTAs towards the RCEP: A Mapping Study," Working Papers DP-2013-02, Economic Research Institute for ASEAN and East Asia (ERIA).
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    Cited by:

    1. 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.
    2. Russel Kingshott & Piyush Sharma & Peter Hosie & Nebojsa Davcik, 2019. "Interactive impact of ethnic distance and cultural familiarity on the perceived effects of free trade agreements," Asia Pacific Journal of Management, Springer, vol. 36(1), pages 135-160, March.

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    More about this item

    Keywords

    mega-free trade agreements; Asian-centric Regional Comprehensive Economic Partnership; Trans-Pacific Partnership; Trans-Atlantic Trade and Investment Partnership; negotiation; world; world trade; world trading system.;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation

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