PACIFIC RIM TRADE AND DEVELOPMENT: HISTORICAL ENVIRONMENT AND FUTURE PROSPECTS

Jack Hou, Shinichi Ichimura, Seiji Naya, Lars Werin and Leslie Young

Contemporary Economic Policy, 1995, vol. 13, issue 4, 1-25

Abstract: Pacific Asia is deep rooted in its cultural heritage and historical background, which have set the tone for regions success. These same factors also have created rather different trading practices, compared with those of the West — practices that are less transparent and full of hidden private trade barriers. Interdependence within the region suggests integration, but Pacific Asia has taken a course of non‐exclusive cooperation rather than following the exclusive course of the European Community (EC) and of the North American Free Trade Agreement (NAFTA). The latter two trade blocs threaten the continued success and development of Pacific Asia. Although the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) sends relief, fostering a cooperative rather than a retaliative Asian Pacific Economic Cooperation (APEC) organization offers the most promise.

Date: 1995
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