The ASEAN-China Free Trade Agreement and East Asian Regional Grouping

Despite growing enthusiasm for an East Asian economic grouping in the wake of the Asian financial crisis, the decision of ASEAN and China to move toward an FTA still came as a major shock. However, the move is the result of rational calculations by the political leaders of ASEAN and China of possibl...

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Bibliographic Details
Published in:Contemporary Southeast Asia 2003-12, Vol.25 (3), p.387-404, Article CS25-3c
Main Author: CAI, KEVIN G.
Format: Article
Language:English
Subjects:
Agreements
ASEAN
Association of South East Asian nations
China
China (People's Republic)
Cooperation
East Asia
Economic aspects
Economic crises
Economic crisis
Economic growth
Economic regions
Economic relations
Financial crisis
Free Trade
Free trade and protection
Free trade zones
Global economy
Institutionalization
International economic cooperation
International Organizations
International relations
International trade
Local economy
Market economies
North American Free Trade Agreement
Peoples Republic of China
Political economy
Politics
Regional cooperation
Regional integration
Regional studies
Regionalism
Southeast Asia
Trade agreements
Trade liberalization
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Summary:Despite growing enthusiasm for an East Asian economic grouping in the wake of the Asian financial crisis, the decision of ASEAN and China to move toward an FTA still came as a major shock. However, the move is the result of rational calculations by the political leaders of ASEAN and China of possible costs and benefits that such an FTA will bring. It reflects ASEAN's and China's active response to the challenges brought about by the intensifying regionalism in the global economy, the growing economic ties between them, and the impact of the Asian financial crisis. The movement toward an FTA is a significant development in East Asian integration — a development that could have a major impact on the political economy of East Asia in general and the process of forming an East Asian regional grouping in particular.
ISSN:0129-797X
1793-284X
DOI:10.1355/CS25-3C