Asia-Pacific Economic Integration Research Articles

A Comparative Analysis of RCEP and IPEF from the China-U.S. Competition

On January 1, 2022, the ASEAN-led Regional Comprehensive Economic Partnership (RCEP) came into effect. On May 23rd, 2022, the United States officially launched the "Indo-Pacific Economic Framework"(IPEF). The two agreements cover the major economies in Asia-Pacific region and have become the two most important paths for the economic cooperation in this region. However, there are conflicts of interest among these economies involved in RCEP and IPEF, and there are differences in cooperation objectives, binding forces, integration standard, as well as driving forces, which may lead to fierce competition among them in the process of Asia-Pacific economic integration. Based on the basic viewpoints of hegemony stability theory and power transition theory, this study compares the competitiveness of RCEP and IPEF from the background and contents. And analyzes the prospects of the two agreements from the global supply chain crisis, American foreign policy, the substantial progress of the two agreements and the geopolitical security in the Asia-Pacific region. Finally, some suggestions are put forward for China to meet the challenge of IPEF.

Азіатсько-Тихоокеанський регіон та проєкти його розвитку: кінець ХХ – початок ХХІ століття

Стаття присвячена комплексному дослідженню сутності розуміння поняття «Азіатсько-Тихоокеанський регіон», аналізу досвіду впровадження проектів розвитку регіону в сучасних умовах. Встановлено, що серед дослідників і дотепер не існує єдиного підходу до поняття «АТР». У межах статті термін «АТР» уживається у вузькому значенні: це країни Північно-Східної Азії: Китай, Японія, Південна і Північна Корея, десять країн Південно-Східної Азії, об'єднаних у регіональну організацію - Асоціацію держав Південно-Східної Азії. Усі ці країни вносять значний вклад у міждержавні відносини в Тихому океані, тому тенденції стабільності переважають над тенденціями дестабілізації політичних і економічних процесів, які формують основу потенційного світового центру. Встановлено, що після завершення холодної війни Азіатсько-Тихоокеанський регіон можна було вважати найстабільншгим регіоном у світі, який пройшов період тривалого економічного розвитку без очевидних конфліктів. Зазначено, що Азіатсько-Тихоокеанський регіон вступив на шлях розвитку інтеграційних процесів набагато пізніше за інші регіони світу (окрім Асоціації держав Південно-Східної Азії.). Також у статті зазначається й обґрунтовується думка, що унікальність (феномен) азіатсько-тихоокеанської економічної інтеграції полягає в наявності м'яких схем інтеграції, які знайшли прояв у формуванні зон економічного зростання у Східній Азії (на прикладі Асоціації держав Південно-Східної Азії, Азіатсько-Тихоокеанського економічного співробітництва). Встановлено, що в регіоні відбувається інтенсивне формування регіональних форумів та механізмів, які сприяють тісним відносинам між основними суб'єктами регіону і посиленню його позицій у світовому політичному процесі. Також у статті виокремлено та проаналізовано тренди політичного регіоналізму в азіатській частині Азіатсько-Тихоокеанського регіону: посилення ролі Китаю в регіональному політичному процесі; співіснування двох моделей співпраці в регіоні: транснаціональну кооперацію та міждержавну конкуренцію; перенесення пріоритету в питаннях регіональної безпеки із зовнішніх загроз на внутрішні, і на перший план виходять аспекти політичної, економічної, соціальної й екологічної співпраці.

Sino-Korea Free Trade Agreement and Asia-Pacific economic integration: the China perspective

As an important element of Asian economic integration, a Sino-Korea (hereinafter referred to as South Korea only) Free Trade Agreement (FTA) is currently under negotiation. This paper analyses the potentially sensitive issues that might hinder the progress of the negotiations. We believe that a Sino-Korea FTA would exert great pressure on Japan, which may push forward China—Japan—Korea FTA negotiations. Economic integration in Northeast Asia will promote RCEP and FTAAP as well. Therefore, the Sino—Korea FTA should be viewed from a strategic perspective, and could be an important step towards Asia-Pacific economic integration.

Taiwan’s position in Asia-Pacific economic integration after the ECFA

Taiwan’s position in Asia-Pacific economic integration after the ECFA

Towards a Single Market: A 21st Century Vision for Asia Pacific Economic Integration

APEC leaders can take pride in progress towards free and open trade. There will always be more to do to integrate Asia Pacific economies. 2010 is the time to look beyond border barriers to trade and adopt a new post-Bogor vision of a single market. Traditional border barriers to trade in some sensitive products remain costly, but affect only a rapidly shrinking part of international commerce. Today, it is more efficient to concentrate on problems of communications and logistics, combined with the lack of efficiency, transparency and sometimes arbitrary implementation of economic policies in different economies. The effective constraint on collective action to deal with these problems is not political will. It is limited capacity to design and implement the necessary policy reform. Creating the necessary capacity needs a unifying vision to deal all obstacles to genuine economic integration, that is, to build a single market. In doing so, Asia Pacific governments can learn from the European Union experience. But they need to promote ever-deeper economic integration without relying on a supra-national authority. Like free and open trade, a single market is a vision which can only be approached, rather than reached by any deadline－it is a point of reference for the many things that need to be done to integrate Asia Pacific economies in a meaningful way. Asia Pacific governments should be encouraged to set their own medium-term targets for progress towards well-defined ingredients of a single market. Strict selection criteria should be used to identify options for cooperation which build on what APEC is already doing and which are in line with the priorities of most member economies. An ambitious program to enhance the efficiency of supply chains could set a successful example and generate the confidence to do more.

Towards a Single Market: A 21st Century Vision for Asia Pacific Economic Integration

APEC leaders can take pride in progress towards free and open trade. There will always be more to do to integrate Asia Pacific economies. 2010 is the time to look beyond border barriers to trade and adopt a new post-Bogor vision of a single market. Traditional border barriers to trade in some sensitive products remain costly, but affect only a rapidly shrinking part of international commerce. Today, it is more efficient to concentrate on problems of communications and logistics, combined with the lack of efficiency, transparency and sometimes arbitrary implementation of economic policies in different economies. The effective constraint on collective action to deal with these problems is not political will. It is limited capacity to design and implement the necessary policy reform. Creating the necessary capacity needs a unifying vision to deal all obstacles to genuine economic integration, that is, to build a single market. In doing so, Asia Pacific governments can learn from the European Union experience. But they need to promote ever-deeper economic integration without relying on a supra-national authority. Like free and open trade, a single market is a vision which can only be approached, rather than reached by any deadline－it is a point of reference for the many things that need to be done to integrate Asia Pacific economies in a meaningful way. Asia Pacific governments should be encouraged to set their own medium-term targets for progress towards well-defined ingredients of a single market. Strict selection criteria should be used to identify options for cooperation which build on what APEC is already doing and which are in line with the priorities of most member economies. An ambitious program to enhance the efficiency of supply chains could set a successful example and generate the confidence to do more.

The strategies adopted by Taiwan in response to the global financial crisis, and Taiwan's role in Asia-Pacific economic integration

The global financial crisis that began in 2008 exposed weaknesses in Taiwan's industrial structure and in the structure of its foreign trade; it also pointed out the importance of industrial upgrading and transformation if Taiwan is to remain economically competitive. The aim of this paper is to explore the strategies that Taiwan has adopted in response to the global economic crisis, and the medium- and long-term strategies that Taiwan will need to adopt in the face of the trend towards economic integration in the Asia-Pacific region.

Distinguished Fellow: Ross Garnaut*

This paper surveys the contribution of Ross Garnaut to the Australian economics profession, in the fields of Asia–Pacific economic integration, Australia’s economic relations with the Asia–Pacific region, the economic development of Papua New Guinea and China, and climate change. It particularly draws attention to his major contribution to economic policy‐making in Australia and the region.

Ethnic Chinese Business Networks and the Asia-Pacific Economic Integration

Studies of Asian politics and economy have been mostly focused on states and formal institutions. The reality of Asian development, however, goes beyond national boundaries. Private, as well as informal actors are also increasingly important. The ethnic Chinese business network (ECBN) is an outstanding example of such development. This paper examines the Chinese network from a broad perspective of the Asian integration. It argues that ECBN is a major mode of economic integration in East Asia. It is built upon ethnic ties and it establishes strong business connections across national boundaries. As a type of informal integration, the ECBN is more effective than formal integrative institution since it can turn the great diversity of the region from a barrier to a major source of integration. Together with production networks and subregional economic zones, the ECBN promotes regional integration in the absence of a free trade arrangement. The powerful networks also explain why the Chinese economies performed better than other Asian economies during the Asian financial crisis. The Chinese networks will play a more important role in the new millennium and the study of those networks warrants special attention.

Ethnic Chinese Business Networks and the Asia-Pacific Economic Integration

Ethnic Chinese Business Networks and the Asia-Pacific Economic Integration

The possibility of nesting South Asia in Asia-Pacific economic integration

A case for expanded Asia-Pacific economic integration inclusive of South Asia is examined. The methodology and empirical design developed within the framework of a world trade matrix consists of eight regions. These are divided into seven basic regions of single or multi-country groupings from expanded Asia-Pacific integration and one from the rest of the world. The growth of economic cohesiveness within Asia during the past three or more decades is assessed by patterns of trade linkages in various quantitative dimensions through measures of bilateral reciprocity, multilateralism, and market diversification. Entropy indexes of the trade and information matrix are computed and used in the analysis. We find pervasive evidence that China has begun to develop in tandem with Asian partners, but that India and Pakistan have a distance to go to achieve a similar degree of regional involvement.