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Multitrack integration in East Asian trade : Noodle bowl or matrix?

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  • Multitrack integration in East Asian trade
  • Petri, Peter A
  • East-West Center


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Title Multitrack integration in East Asian trade
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Sub Title

Noodle bowl or matrix?

Material Type Reports
Author(English)

Petri, Peter A

Publisher

Honolulu:East-West Center

Date 2008-10
Series Title; No AsiaPacific Issues / 86
Pages 12
Subject Country Eastern Asia(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Trade
Holding East-West Center

Abstract

East Asian trade agreements are often described as a complicated "noodle bowl," which shows links in the region as a snarled, overlapping and intertwined mass. But this is a misleading representation--Asia's regional agreements may in fact be creating an order of a different sort, building the foundations for a stronger regional trading system. Asian trade arrangements can be more constructively seen in terms of a trade agreements matrix, in which multiple negotiations produce an orderly progression of agreements to liberalize all potential bilateral relationships and move the region toward a coherent system of freer trade. The various approaches to deeper economic integration--regional arrangements, trans-Pacific agreements, and global engagement--are complementary paths that should eventually lead to an open global trading system. East Asia is of growing importance in the global marketplace, and adopting an aggressive multitrack strategy--as the region appears to be doing--may be the fastest route toward a new global framework.