East Asian Economic Regionalism Feasibilities and Challenges
Economic regionalism has become a worldwide phenomenon. Since the Asian financial crisis, East Asian countries are accelerating the ongoing market-driven economic integration as well as institutional economic integration. The question is whether East Asia
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East Asian Economic Regionalism Feasibilities and Challenges
Edited by
AHN, CHOONG YONG Korea Institute of International Economic Policy, KIEP, Korea
BALDWIN, RICHARD E. Graduate Institute of International Studies, Geneva, Switzerland and
CHEONG, INKYO Inha University, Korea
A C.I.P. Catalogue record for this book is available from the Library of Congress.
ISBN-10 ISBN-10 ISBN-13 ISBN-13
0-387-24330-5 (HB) 0-387-24331-3 (e-book) 978-0-387-24330-6 (HB) 978-0-387-24331-3 (e-book)
Published by Springer, P.O. Box 17, 3300 AA Dordrecht, The Netherlands. www.springeronline.com
Printed on acid-free paper
All Rights Reserved © 2005 Springer No part of this work may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, microfilming, recording or otherwise, without written permission from the Publisher, with the exception of any material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Printed in the Netherlands.
Contents
Preface
vii
Editors’ Biographical a Notes
ix
Contributors
x
List of Tables
xii
List of Figures
xiv
Introduction and Overview
xv
Part I: Northeast Asian Views on an EAFTA Chapter 1 China’s Approach to an Institutional Regional Arrangement - Guoqiang Long and Liping Zhang
1
Chapter 2 East Asian Free Trade Agreement: Strategic Aspects for Japan - Kazuhiro Igawa and Bonggil Kim
21
Chapter 3 Evaluation of Recent Progress of FTAs in East Asia – A Korean Perspective - Inkyo Cheong
37
Part II: Southeast Asian Views on an EAFTA Chapter 4 An East Asian FTA: A New Frontier off Economic Cooperation in East Asia - Termsak Chalermpalanupap
57
Chapter 5 Indonesia’s FTA Policy and Its Perspectives on an East Asian FTA - Deddy Saleh
75
v
vi
Chapter 6 An East Asia FTA: A Malaysian Perspective - Mohd Haflah Piei Chapter 7 An East Asian FTA: A Philippine Perspective - John Lawrence Avila
95
121
Part III: Assessment of East Asian Regionalism Chapter 8 T in East Asia – CGE Approach Estimation of Economic Effects of FTAs - Inkyo Cheong
139
Chapter 9 Asian Regionalism: Promises and Pitfalls - Richard E. Baldwin
157
Chapter 10 EU’s Strategy towards East Asian Integration and Regionalism - Sung-Hoon Park
175
Name Index
193
Preface
CHOONG YONG AHN, RICHARD E. BALDWIN, AND INKYO CHEONG East Asia largely ignored the proliferation of regional trade blocs and the subsequent regional integration phenomenon, despite the global wave of free trade agreements (FTAs) in the 1990s. Until recently, East Asian economies had not developed any meaningful economic cooperation schemes covering the whole region. However, in recent years, the growing interdependence in East Asia through trade and financial cooperation heightened d the need for East Asian economies to engage in regional economic cooperation and integration. The Asian financial crisis triggered a rising sense of East Asian identity, and in November 1999, the ASEAN+3 (China, Ja
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