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11. Trade Policy Options for ASEAN Countries and Their Regional Dialogue Partners: “Preference Ordering” Using CGE Analysis

Author:
Pradumna B. Rana, Xianbai Ji, Wai-Mun Chia, and Chang Tai Li
Publication Date:
03-2018
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
The withdrawal of the United States from the Trans-Pacific Partnership (TPP) and Trump’s “America First” agenda have ignited a second round of interest in mega-free trade agreements in the Asia Pacific region. Countries have been motivated to explore alternative trade policy options. Using national real gross domestic output gains estimated by the GTAP model to construct “preference ordering” for 10 Association of Southeast Asian Nations (ASEAN) members and their six regional dialogue partners, this paper comes up with several findings. First, when multilateral agreements are not possible, countries are better off with a narrower regional trading agreement than without one. Second, in the region, Regional Comprehensive Economic Partnership (RCEP) has higher beneficial impacts than the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Third, for dual-track countries, that is countries that are negotiating both the CPTPP and the RCEP, implementing both agreements is better than each separately. Fourth, as expected, economic impacts of the CPPTP are lower than those of the original TPP12, but all CPPTP members will benefit although to different degrees. Fifth, economic impacts of open regionalism are higher than those of a closed and reciprocal one. Going forward, the paper argues that ASEAN countries and their regional dialogue partners need to adopt a “multi-track, multi- stage” approach to trade policy.
Topic:
Regional Cooperation, Trans-Pacific Partnership, Free Trade, and Economic Cooperation
Political Geography:
United States, China, Asia, and Asia-Pacific

12. Made in China 2025 as a Challenge in Global Trade Governance: Analysis and Recommendations

Author:
Anton Malkin
Publication Date:
08-2018
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
This paper provides a reassessment of Made in China 2025 (MIC 2025) — China’s industrial policy framework aimed at helping the country overcome the much-maligned middle-income trap — in the context of global trade governance. It suggests that China’s industrial policies have been viewed too narrowly — without sufficient attention to longer-term global governance issues — by a large segment of the global business and policy-making community. The paper argues that the general aims of MIC 2025 and the policies that underpin them are not unreasonable, given the increasingly prevalent dilemmas in global trade that China’s leaders are grappling with. These include problems of international development arising from growing global industrial concentration — driven by the growth of the intangible economy — and China’s shrinking access to importing and developing technological components (such as semiconductor chips) that are increasingly characterized as “dual-use” by China’s trading partners. This suggests that resolving the concerns of China’s trading partners regarding China’s industrial policies requires global trade governance reform to ensure an equitable, rules-based global trading order that addresses the legitimate needs of developing and middle-income economies in acquiring foreign-owned technological components and know-how, for the purposes of economic development. The paper concludes by outlining specific recommendations for Canada’s policy makers in improving their economic relationship with China in the context of MIC 2025.
Topic:
Development, Industrial Policy, Science and Technology, Governance, and Free Trade
Political Geography:
China, Canada, Asia, and North America

13. The Strategic Case for South Korea to Join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Author:
Kyle Ferrier
Publication Date:
04-2018
Content Type:
Journal Article
Journal:
International Journal of Korean Studies
Institution:
International Council on Korean Studies
Abstract:
South Korea is at a critical crossroads. The future of the liberal international order, a major source of strength for Seoul, is unclear. President Donald Trump has repudiated the longstanding American role of upholding the liberal order. While Beijing has been quick to capitalize on this policy shift, the norms China seeks to promote either fall short of or run counter to the advancement of an open and rules-based international system. Although South Korea may be caught between these two great powers, it is by no means powerless to influence how international economic norms are advanced. To best meet its economic and even strategic interests, the Moon administration should begin negotiations to have South Korea join the remaining countries in the Trans-Pacific Partnership, known as the CPTPP.
Topic:
International Relations, Belt and Road Initiative (BRI), Trans-Pacific Partnership, Free Trade, Regionalism, and Donald Trump
Political Geography:
China, Asia, South Korea, North America, and United States of America

14. The Global Exchange (Summer 2017)

Author:
David J. Bercuson, Hugh Stephens, Robert Hage, Robert Huebert, Stefanie Von Hlatky, Lindsay Rodman, Stephen M. Saideman, Hugh Segal, and Vanja Petricevic
Publication Date:
06-2017
Content Type:
Journal Article
Journal:
The Global Exchange
Institution:
Canadian Global Affairs Institute (CGAI)
Abstract:
The Global Exchange is the Canadian Global Affairs Institute’s quarterly magazine featuring topical articles written by our fellows and other contributing experts. Each issue contains approximately a dozen articles exploring political and strategic challenges in international affairs and Canadian foreign and defence policy. This Summer 2017 issue covers trade deals, human rights, defense, cybersecurity and more.
Topic:
Defense Policy, NATO, Human Rights, Territorial Disputes, Cybersecurity, Trans-Pacific Partnership, Free Trade, Transparency, and Deterrence
Political Geography:
China, Europe, Canada, North America, and Arctic

15. Economic and Strategic Dimensions of Mega-FTAs: A Perception Survey of Asian Opinion Leaders

Author:
Xianbai Ji, Pradumna B. Rana, Wai-Mun Chia, and Changtai Li
Publication Date:
12-2016
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
The advent of mega-free trade agreements (mega-FTAs) including the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership (RCEP) and the Transatlantic Trade and Investment Partnership (TTIP) is a defining feature of global trade governance in the 21st century. What are the costs and benefits of mega- FTAs? What is the political and strategic calculus behind mega-FTAs? Is there a “domino effect” triggering off the mega-FTA troika in a chain of reactions? Does mega-regionalism reinforce or undermine multilateralism? Since commonly used econometrics models cannot shed light on non-economic issues, this paper examines mega-regionalism by conducting a perception survey. This survey received responses from 648 opinion leaders located in 31 Asian countries. Respondents felt that mega-FTAs are good trade policy instruments that are “building blocks” to multilateralism. Linked by a “domino effect”, the mega-FTAs have important political and strategic dimensions. The United States wants to socialise China by writing high- standard “rules of the road” through the TPP. China then pivoted to RCEP to counter the TPP. Brussels through TTIP wanted to join the mega-FTA bandwagon to stay relevant. Additionally, remaining questions on decentralising global economic architecture highlight the need for regional and global institutions to complement each other.
Topic:
European Union, Multilateralism, Trans-Pacific Partnership, Free Trade, and Decentralization
Political Geography:
United States, China, Europe, Asia, and Global Focus

16. A Frustrating Start to 2015 for the US

Author:
Brad Glosserman and Ralph A. Cossa
Publication Date:
05-2015
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Pacific Forum
Abstract:
President Obama initiated his long-awaited (and long overdue) quest for “fast track” or Trade Promotion Authority (TPA) from the US Congress, understanding that final negotiations and eventual passage (or not) of his Asian “rebalance” economic centerpiece, the Trans-Pacific Partnership (TPP) free trade agreement, rests upon achieving TPA. Without TPP, Obama’s already tarnished leadership image will be severely damaged, his “lame duck” status will be solidified at home and abroad, and his Asian pivot will be seen not as the multidimensional strategy it was intended to be but largely a unidimensional (security) single-focused (China) strategy. Meanwhile, China continued to tarnish US and ASEAN leadership through its accelerated island-building projects in the South China Sea, while Washington’s badly managed response to China’s Asian Infrastructure Investment Bank initiative provided another (self-inflicted) wound. Washington’s questions were the right ones, but its seemingly “choose between us and China” approach resulted in most US partners and allies choosing Beijing. Finally, US-DPRK and North-South relations went through cycles of hope and despair with no real progress in sight, as speculation runs rampant as to why Kim Jong-Un decided not to go to Moscow.
Topic:
Diplomacy, International Cooperation, International Trade and Finance, Hegemony, and Free Trade
Political Geography:
China, Asia, North Korea, North America, and United States of America