Origin Issues and Prospect by Karton98

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									Asia-Pacific Regional Economic Cooperation:
Origin, Issues and Prospect

亞太地區經濟合作:始源、課題與前景
Professor Edward K.Y. Chen (陳坤耀教授)
Chairman, Hong Kong Committee for Pacific Economic Cooperation 14 Oct 2006
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Forms of Cooperation 合作的形式
1. Forum/Dialogue
2. Preferential Trading Agreement (PTA) 3. Custom Union 4. Common Market 5. Monetary Union
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Reasons for Cooperation 合作的原因
1. Trade Creation
For the Country, Region and the World

2. Pooling Resources
Natural, Physical and Human

3. Policy Coordination
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Abbreviations
1. AFTA
2. APEC 3. ASEAN 4. BTA 5. EAEC 6. EAEG

ASEAN Free Trade Area
Asia Pacific Economic Cooperation Association of Southeast Asian Nations Bilateral Trade Agreement East Asia Economic Caucas East Asia Economic Grouping

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7.
8. 9.

EU
FTAA NAFTA

European Union
Free Trade Area of the Americas North American Free Trade Agreement Pacific Free Trade Area Pacific Trade and Development Conference

10. PAFTA 11. PAFTAD

12. PECC
13. RTA 14. WTO

Pacific Economic Cooperation Council
Regional Trading Agreements World Trade Organization
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Evolution of Asia-Pacific Economic Cooperation
1. 1960s to 1980s


Cross-regional

East Asia – North America – Australasia



PAFTA, PAFTAD, PECC, APEC, ASEAN Leaders: USA, Japan
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

2. 1990s


Regional
East Asia



EAEG, EAEC, AFTA



Leaders: Malaysia, Japan ???

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3. 2000s
 

Bilateral – RTA/BTA Deeper, Non-trade, Non-WTO, Faster cooperation



Stepping stone or Stumbling block?

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4. 2000s
 

Sub-regional Asean-Plus-Three, Asean-Plus-One Hub/Leader: China?



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Factors Contributing to Asia-Pacific Sub-Regional Economic Cooperation
1. Geo-politics


Increased integration in America:
NAFTA, FTAA



Increased integration in Europe:
EU – A Monetary union

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

USA’s “Deeper” involvement in the Middle East



Emergence of China as a world economic and military power

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2. Geo-economics


China as a production hub and an engine of growth in the region Economic Complementarity
Sub-regional division of labour • Increased intra-regional trade and investment




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

Asian financial crisis and international failure The APEC process in liberalizing trade?



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New Thinkings of Cooperation
1. Economics to beyond economics regional security, civil security, health, neo-economic security 2. Informal to semi-formal
3. Cross-regional to sub-regional

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4. USA/Japan to China as leader

5. China as the hub in a hub-spoke, spoke-spoke relationship

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A Scenario of Workable Globalization with Building Blocks
Regional Sub-regional – – Formal High degree Semi-formal Medium degree Informal Loose
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Cross-regional –

Challenges
1. National Autonomy
2. Political/ Cultural/ Social Diversity

3. Presence of Indisputable Leader(s)
4. Geopolitics 5. Geoeconomics

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Thank You!

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