An Examination of the Formation of Natural Trading Blocs in East Asia

Chang-Soo Lee () and Soon-Chan Park ()
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Chang-Soo Lee: Korea Institute for International Economic Policy, P.O. Box 235, Yomgok-dong, Seocho-gu, Seoul 137-747, South Korea
Soon-Chan Park: Division of Economics and Commerce, Kongju National University, Shinkwan-dong 182, Kongju 314-701, South Korea

Asian Economic Papers, 2005, vol. 4, issue 1, 90-103

Abstract: This paper seeks to identify the appropriate form of a regional trading agreement in East Asia by estimating the intra-regional trade bias of various informal regional groups. The major conclusion is that ASEAN+3 would be the natural policy choice for the formation of a regional trading agreement in East Asia. Moreover, ASEAN+3 will not diverge from the principles of open regionalism and multilateralism, when we consider its inherently open character and the positive influence of the United States and Japan.Journal: Asian Economic Papers

Date: 2005
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