REGIONALISM, TRADE AND ECONOMIC DEVELOPMENT IN THE ASIA-PACIFIC REGION; ED. BY M.A.B. SIDDIQUE

This book is based on the premise that Regional Trade Agreements (RTAs) in the Asia-Pacific significantly impact on the material progress of the peoples of this region. These impacts - in terms of the benefits and costs associated with RTAs - will vary greatly from country to country. The internationally acclaimed contributors examine the theoretical perspective of RTAs in relation to exchange rates, the role and goals of the WTO and agriculture. The tensions and trade frictions resulting from the formation of trade blocs and their conflicts with the roles and goals of the WTO are also examined in the book. Those economies that are considered the economic powerhouses of the region including China, Japan, South Korea, major ASEAN countries and Australia are discussed in depth. The findings of the book suggest that RTAs are becoming increasingly popular in the Asia-Pacific region. However the associated costs and benefits depend on a number of complex factors including exchange rates, negotiation skills, the sectors included or excluded from the RTA, and the level of economic development of the nations signing the RTAs. The book will be particularly useful to academics, researchers, consultants, students, policy makers (including trade negotiators), and practitioners involved in trade and development in the Asia-Pacific region. Contributors: D. Allen, I. Cheong, C. Howe, N. Islam, K.E. Jackson, W.E. James, E. Kopke, L.K. Lim, D. MacLaren, R. Sen, M.A.B. Siddique, L.A. Sjaastad, J. Stanton, A.L. Stoler, J. Tongzon, T. Winduss, Y. Wu, I. Yamazawa Contents......Page 5 Figures......Page 7 Tables......Page 8 Contributors......Page 10 Preface and acknowledgements......Page 13 PART I Introduction......Page 15 1. Regionalism, trade and economic development: theories and evidence from the Asia-Pacific region......Page 17 PART II Regionalism: the World Trade Organization and the exchange rate......Page 37 2. Preferential trade agreements and the role and goals of the World Trade Organization......Page 39 3. Preferential trade agreements and exchange rate regimes......Page 51 4. Major trade trends in APEC economies: implications for regional free trade agreements......Page 69 PART III East Asia and the Pacific......Page 83 5. Australia–United States free trade agreement and its implications for Japan......Page 85 6. Free trade areas and economic integration in East Asia: the view from China......Page 97 7. Reflections on impacts and outcomes of regional trade liberalization in an Asia-Pacific context......Page 120 8. Korea’s approaches to regionalism......Page 131 9. AUSFTA and its implications for the Australian stock market......Page 142 PART IV Southeast Asia......Page 155 10. US–Singapore free trade agreement: implications for Singapore, Australia and other ASEAN countries......Page 157 11. Comparative advantage in Thailand and Indonesia and potential free trade agreements: implications for trade diversion......Page 173 12. The Singapore–Australia free trade agreement (SAFTA): motivations and implications for the Asia-Pacific economies......Page 186 PART V Sector studies......Page 205 13. The commodity coverage of PTAs: does agriculture matter?......Page 207 14. Multilateral consequences of bilateral trade agreements: AUSFTA and the Australian wool industry......Page 220 PART VI Conclusion......Page 235 15. Regionalism, trade and economic development in the Asia-Pacific region: challenges ahead......Page 237 Index......Page 249 1. Regionalism, Trade And Economic Development : Theories And Evidence From The Asia-pacific Region / M. A. B. Siddique -- 2. Preferential Trade Agreements And The Role And Goals Of The World Trade Organization / Andrew L. Stoler -- 3. Preferential Trade Agreements And Exchange Rate Regimes / Larry A. Sjaastad -- 4. Major Trade Trends In Apec Economies : Implications For Regional Free Trade Agreements / Yanrui Wu -- 5. Australia-united States Free Trade Agreement And Its Implications For Japan / Ippei Yamazawa -- 6. Free Trade Areas And Economic Integration In East Asia : The View From China / Christopher Howe -- 7. Reflections On Impacts And Outcomes Of Regional Trade Liberalization In An Asia-pacific Context / Kenneth E. Jackson -- 8. Korea's Approaches To Regionalism / Inkyo Cheong -- 9. Ausfta And Its Implications For The Australian Stock Market / David Allen, Lee K. Lim And Trent Winduss -- 10. Us-singapore Free Trade Agreement : Implications For Singapore, Australia And Other Asean Countries / Jose Tongzon -- 11. Comparative Advantage In Thailand And Indonesia And Potential Free Trade Agreements : Implications For Trade Diversion / William E. James -- 12. The Singapore-australia Free Trade Agreement (safta) : Motivations And Implications For The Asia-pacific Economies / Rahul Sen -- 13. The Commodity Coverage Of Ptas : Does Agriculture Matter? / Donald Maclaren -- 14. Multilateral Consequences Of Bilateral Trade Agreements : Ausfta And The Australian Wool Industry / John Stanton, M. A. B. Siddique, Emma Kopke And Nazrul Islam -- 15. Regionalism, Trade And Economic Development In The Asia-pacific Region : Challenges Ahead / M. A. B. Siddique. Edited By M.a.b. Siddique. Includes Bibliographical References And Index. The Editor Of This Book Is To Be Congratulated For Providing Us With The Works Of A Group Of Authors Who Combine Proficient Technical Skills With Elegant And Lucid Writing Capabilities. . . This Book Would Make Excellent Recommended Reading For Both Undergraduate And Graduate Classes In International Trade And Finance. Herb Thompson, Journal Of Contemporary Asia This Book Is Based On The Premise That Regional Trade Agreements (rtas) In The Asia-pacific Significantly Impact On The Material Progress Of The Peoples Of This Region. These Impacts In Terms Of The Benefits And Costs Associated With Rtas Will Vary Greatly From Country To Country. The Internationally Acclaimed Contributors Examine The Theoretical Perspective Of Rtas In Relation To Exchange Rates, The Role And Goals Of The Wto And Agriculture. The Tensions And Trade Frictions Resulting From The Formation Of Trade Blocs And Their Conflicts With The Roles And Goals Of The Wto Are Also Examined In The Book. Those Economies That Are Considered The Economic Powerhouses Of The Region Including China, Japan, South Korea, Major Asean Countries And Australia Are Discussed In Depth. The Findings Of The Book Suggest That Rtas Are Becoming Increasingly Popular In The Asia-pacific Region. However The Associated Costs And Benefits Depend On A Number Of Complex Factors Including Exchange Rates, Negotiation Skills, The Sectors Included Or Excluded From The Rta, And The Level Of Economic Development Of The Nations Signing The Rtas. The Book Will Be Particularly Useful To Academics, Researchers, Consultants, Students, Policy Makers (including Trade Negotiators), And Practitioners Involved In Trade And Development In The Asia-pacific Region. Examines the theoretical perspective of the Regional Trade Agreements (RTAs) in relation to exchange rates, the role and goals of the WTO and agriculture. Discusses the impact of RTAs on the economies of China, Japan, South Korea, major ASEAN countries, and Australia