Economic Integration in the Asia-Pacific: In Search of Model

249
DOI: 10.20542/0131-2227-2017-61-11-57-65

M. Potapov (mpotapov2@yandex.ru),
Primakov National Research Institute of World Economy and International Relations, 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation



Abstract

The article analyzes two different models of economic integration in the Asia-Pacific region. The first model is the Asia-Pacific Free Trade Area (FTAAP) being discussed at the APEC forum over the last ten years. Another model is the Trans-Pacific Partnership (TTP), formed under the aegis of the USA in the framework of negotiations to reach an appropriate agreement. Author after making a quick analysis shows the usefulness of the different models in the Asia-Pacific region at the present stage of integration. Some models, such as bilateral free trade agreements or TTP, definitely stimulate the progress of multilateral negotiations to create an FTAAP within APEC area. One can talk about the presence of their complementarity in a healthy competition. Such competition, particularly between APEC and the TTP, appears to be not of a destabilizing nature. Also, do not expect in this regard any political or economic divisions in the region. US-based TTP, in our opinion, will not be the sole foundation for the formation of the future free open trade and investment area in the APEC region, and will serve as one of its “building blocks”, in addition to the Regional Comprehensive Economic Partnership (RCEP) as example. In particular, the agreement within the TTP or RCEP can be used in the future in an agreement of FTAAP. According to the author’s estimates, in the medium term, possibly in the third decade of this century, the area of free trade and investment will be formed in the APEC region. This model will reflect the specifics of the region. Interaction of the APEC member countries and coordination of their policies will be flexible, pragmatic, and what is especially important — will be a voluntary consensual (in the ASEAN style). The author seems most probable conclusion of comprehensive agreement on the free trade and investment area on the basis of sub-regional bilateral free trade agreements. 


Keywords

Free Trade Area of the Asia-Pacific, import, liberalization, protectionism, foreign direct investment, free trade, tariff protection, TPP, APEC forum, economic integration 


REFERENCES

1. Potapov M. A., Salitskii A. I., Shakhmatov A. V. Ekonomika sovremennoi Azii [The Economy of Modern Asia]. Moscow, International Relations, 2011. 264 p.

2. Potapov M. A. Vneshneekonomicheskaya model' razvitiya stran Vostochnoi Azii [Foreign Economic Model of Development of East Asian Countries]. Moscow, International Relations, 2004. 240 p.

3. Arapova E. Ya. Ekonomicheskaya integratsiya v Vostochnoaziatskom regione. Retrospektivnyi analiz i budushchie vozmozhnosti [Economic Integration in the East Asian Region. Retrospective Analysis and Future Opportunities]. Moscow, Prospect, 2016. 208 p.

4. Arapova E. Ya. Integratsionnyi potentsial ATZST [Integration Potential of FTAAP]. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2016, no. 1, pp. 68-81.

5. APEC Peru 2016. Leaders’ Declaration. Available at: https://www.apec.org/Meeting-Papers/Leaders-Declarations/2016/2016_aelm.aspx (accessed 03.12.2016).

6. APEC Peru 2016. APEC Ministerial Meeting Joint Statement. Available at: http://www.apec.org/Meeting-Papers/Annual-Ministerial-Meetings/Annual/2016/2016_amm.aspx (accessed 03.12.2016).

7. Dynkin A. A., eds. Strategicheskii global'nyi prognoz-2030. Rasshirennyi variant [Strategic Global Forecast to 2030. Extended Option]. Moscow, Magistr, 2011. 480 p.

8. Mikheev V. V., Shvydko V. G., eds. Disbalansy transtikhookeanskogo prostranstva [Imbalances Trans-Pacific Space]. Moscow, Magistr, 2014. 320 p.

9. Cimino-Isaacs C., Schott J., eds. Trans-Pacific Partnership: An Assessment. Washington, Peterson Institute for International Economics, 2016. 369 p.

10. Enhancing Regional Economic Cooperation and Integration in Asia and the-Pacific. Seventy-Second Session of ESCAP. Bangkok, 15–19 May 2016. Items 3 and 7a of the Provisional Agenda (In Russ.) Available at: http://www.unescap.org/sites/default/files/E72_5R.pdf (accessed 03.12.2016).

11. Schott J., Cimino-Isaacs C., Jung E. Implication of the Trans-Pacific Partnership for the World Trading System. Washington, Peterson Institute for International Economics, Policy Brief 16–8, July 2016. Available at: https://piie.com/system/files/documents/pb16–8.pdf (accessed 03.12.2016).

12. Meade J. E. The Theory of Customs Unions. Amsterdam, North-Hollland Publishing Company, 1955. 121 p.

13. Viner J. The Customs Union Issue. New York, Carnegie Endowment for International Peace, 1950. 221 p. 


Registered in system SCIENCE INDEX

For citation:
Potapov M. Economic Integration in the Asia-Pacific: In Search of Model. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2017, vol. 61, No 11, pp. 57-65. https://doi.org/10.20542/0131-2227-2017-61-11-57-65



Comments (0)

No comments

Add comment







Indexed
 
Current Issue
2020, vol. 64, No. 11

Topical Themes of the Issue:

  • • Comparative Analyses of Terrorist Threats under Conditions of COVID 19
  • • Competitive Education in the Third Millenium: Quo Vadis?
  • • Models of Regional Leadership in Eurasia: to the New Research Agenda
  • • Russia: “Late-Take off Society” in the Whirlwind of World Politics
  • • Development of a National School of Political Science in China
View This Issue (2020, vol. 64, No. 11)
Submit an Article
Announcement

Dear readers!
Please note that free access to full-text issues of the Journal is being opened at our WEB-site after 6 months of the date of publications.The work on deepening the open archive of full-text issues will be continued.


Dear colleagues, authors and readers!
We kindly request you to turn to editor-in-chief and executive secretary directly concerning reviewing scientific publications in our journal. Only editor-in-chief takes decision on order and publication the reviews!

Dear readers!
This is to inform the researchers of the Institute of World Economy and International Relations that electronic versions of the I, II, III issues of 2020 of French magazine Politique étrangère are now available. Those who are interested, please personally address to the editorial staff of MEMO Journal (room 18-17) with an electronic media.
NEW SECTION

In response to the challenges of our time the Editorial board continues to open new thematic rubrics:

“World Energy Sector after Pandemic”. We plan to publish articles presenting in-depth analysis of influence of Pandemic on the global energy sector and forecasts of further developments in its various branches.

“Civilization processes of modern development” is a new rubric opened by MEMO Journal in 2020. It will be devoted to the analysis of the influence of civilizational factors and inter-civilizational interactions on the political and socio-economic development of the world at whole, regions and countries.

“Africa today and tomorrow”The rubric devoted to contemporary issues of Africa which is attracting growing interest of the world's leading actors. We plan to publish the articles analyzing the status of statehood, socio-economic and political development of the countries of Black continent, as well as the integration processes between them.

CONTEST!

"World Eсonomy and International Relations" announces a contest for the best joint academic publications of domestic and foreign researchers and experts in topical issues of the world economy and international relations. The winners will be selected according to the results of peer reviewing and discussion at the Editorial Board. The articles will be published in priority order.

SUBSCRIBE TO THE JOURNAL

The print version of “World Economy and International Relations” journal is distributed by advance subscription only, and is not offered for retail sale. To subscribe please address to any post office in Russia by referring to the Federal Postal Service Union Catalogue, section “ARSMI”, the journal index is 70542. The subscription may be made for the whole subscription period or starting from any nearest available month for desired number of issues.

To purchase the full-text electronic version of the journal’s issue/article please address to the WEB portal of Scientific electronic library eLIBRARY.ru or URL: https://press.gaugn.ru/.

In journal
Years
2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |

The author’s opinions may not coincide with the position of editorial