The economic necessity of the Northeast Asian economic sphere

Jung Mo Kang

Global Economic Review, 1998, vol. 27, issue 1, 63-87

Abstract: Integration is increasing rapidly. The main reasons why integration is increasing rapidly are the trade liberalization process under way in most developing and transitional countries and the conclusion of the Uruguay Round Agreements. Furthermore, regionalism is intrinsically supported by the multilateral trading system. Article XXIV of the GATT allows the establishment of FTAs and CUs under certain conditions. The provisions are designed to ensure that any such arrangements will encourage the creation of new trading opportunities among the members, as opposed to diverting trade away from non-members. This article elaborates on economic interdependence in Northeast Asia (NEA) and compares the NEA economic sphere with other major economic spheres.

Date: 1998
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DOI: 10.1080/12265089808449726

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