Regional Economic Integration and Dispute Settlement in East Asia: The Evolving Legal Framework (Studies in International Trade and Investment Law)

The accession of the People’s Republic of China to the World Trade Organization (WTO) in 2001 significantly transformed the global economy both de facto and de jure. At the regional level, China’s WTO accession served as an important catalyst for the establishment of Regional Trade Agreements (RTAs) in East Asia. This was a novel development for the region, since East Asian States had previously followed a largely informal, market-driven approach to regional economic integration. By contrast, rules-based economic integration involving East Asian States was traditionally limited to multilateral integration under the GATT/WTO framework. This book systematically analyses and explains the development, nature and challenges of rules-based regional economic integration in East Asia with particular attention to the region’s first four RTAs. While also addressing the socio-economic, historical and political factors influencing the development of RTAs in East Asia, the book focuses on the legal institutions governing economic integration in the Association of Southeast Asian Nations (ASEAN), as well as under the ASEAN–China Comprehensive Economic Co-Operation Agreement (ACFTA), the Japan–Singapore New Age Economic Partnership Agreement (JSEPA), and the Mainland China–Hong Kong Closer Economic Partnership Arrangement (CEPA). The book provides a systematic, comparative account of the scope, depth and (hard law versus soft law) quality of rules-based economic integration achieved under these four RTAs in the areas of trade in goods and services, investment liberalisation and protection, labour movement, and dispute settlement. Studies in International Trade and Investment Law: Volume 19 Présentation de l'éditeur : "The accession of the People's Republic of China to the World Trade Organization (WTO) in 2001 significantly transformed the global economy both de facto and de jure. At the regional level, China's WTO accession served as an important catalyst for the establishment of Regional Trade Agreements (RTAs) in East Asia. This was a novel development for the region, since East Asian States had previously followed a largely informal, market-driven approach to regional economic integration. By contrast, rules-based economic integration involving East Asian States was traditionally limited to multilateral integration under the GATT/WTO framework. This book systematically analyses and explains the development, nature and challenges of rules-based regional economic integration in East Asia with particular attention to the region's first four RTAs. While also addressing the socio-economic, historical and political factors influencing the development of RTAs in East Asia, the book focuses on the legal institutions governing economic integration in the Association of Southeast Asian Nations (ASEAN), as well as under the ASEAN-China Comprehensive Economic Co-Operation Agreement (ACFTA), the Japan-Singapore New Age Economic Partnership Agreement (JSEPA), and the Mainland China-Hong Kong Closer Economic Partnership Arrangement (CEPA). The book provides a systematic, comparative account of the scope, depth and (hard law versus soft law) quality of rules-based economic integration achieved under these four RTAs in the areas of trade in goods and services, investment liberalisation and protection, labour movement, and dispute settlement." The accession of the People's Republic of China to the World Trade Organization (WTO) in 2001 significantly transformed the global economy both de facto and de jure. At the regional level, China's WTO accession served as an important catalyst for the establishment of Regional Trade Agreements (RTAs) in East Asia. This was a novel development for the region, since East Asian States had previously followed a largely informal, market-driven approach to regional economic integration. By contrast, rules-based economic integration involving East Asian States was traditionally limited to multilateral integration under the GATT/WTO framework. This book systematically analyses and explains the development, nature and challenges of rules-based regional economic integration in East Asia with particular attention to the region's first four RTAs. While also addressing the socio-economic, historical and political factors influencing the development of RTAs in East Asia, the book focuses on the legal institutions governing economic integration in the Association of Southeast Asian Nations (ASEAN), as well as under the ASEAN–China Comprehensive Economic Co-Operation Agreement (ACFTA), the Japan–Singapore New Age Economic Partnership Agreement (JSEPA), and the Mainland China–Hong Kong Closer Economic Partnership Arrangement (CEPA). The book provides a systematic, comparative account of the scope, depth and (hard law versus soft law) quality of rules-based economic integration achieved under these four RTAs in the areas of trade in goods and services, investment liberalisation and protection, labour mobility, and dispute settlement. Preface and Acknowledgements Contents List of Key Abbreviations Table of Key Legal Documents Introduction I. General Context and Objectives of the Book II. Organisation of the Book 1. International Economic Integration: Theoretical Foundations I. Introduction II. Defining International Economic Integration III. Promoting International Economic Integration Through Law IV. Economic Integration Through the WTO V. Economic Integration Through Regional Trade Agreements VI. The Multilateral Framework for Regional Trade Agreements VII. Summary 2. Economic Integration in East Asia-Origins, Developments and Prospects I. Introduction II. East Asia—Definition and Characteristics III. Dominance of Market-led Integration and Economic Cooperation in East Asia in the Twentieth Century IV. First Experiences of East Asian Countries with Limited RTAs V. Rapid Surge of RTAs in East Asia in the Twenty-first Century VI. Summary 3. The Legalisation of Trade and Investment Relations in ASEAN, ACFTA, JSEPA and CEPA I. Introduction and Objectives II. Background Information III. The Legal Framework for Economic Integration—Goods, Services, Investment and Labour IV. The Legal Framework for Dispute Settlement V. Comparing and Evaluating Levels of Legalisation VI. Summary 4. East Asian RTAs—Significance and Challenges for the Region and Beyond I. Introduction II. The Significance of RTAs for East Asia III. RTA Challenges for East Asia: Managing East Asia's 'Noodle Bowl' IV. The Global Significance of East Asian RTAs V. Summary General Summary and Conclusion Bibliography Index The accession of the People's Republic of China to the World Trade Organization (WTO) in 2001 significantly transformed the global economy both de facto and de jure. At the regional level, China's WTO accession served as a catalyst for the juridification of economic relations in East Asia based on Regional Trade and Investment Agreements (RTAs). This was a novel development for the region, since East Asian states had previously followed a largely informal, market-based approach to regional economic integration (and had limited rules-based economic integration mostly to the global level under the GATT/WTO framework). This book systematically analyses and explains the development, nature and challenges of rules-based regional economic integration in East Asia with a focus on the first four East Asian RTAs, which involve the members of the Association of Southeast Asian Nations, China, Japan, Singapore and the Hong Kong SAR. While also addressing socio-economic, historical and political factors, the book's primary focus is the legal institutions shaping economic integration in ASEAN, ACFTA, JSEPA, and CEPA. The book provides a systematic, comparative account of the scope, depth and (hard law vs soft law) quality of rules-based economic integration achieved under these four RTAs in the areas of trade in goods and services, investment liberalisation and protection, labour movement, and dispute settlement