Choosing the Right Mega-regional Economic Cooperation

Kiki Verico

Chapter Chapter 9 in Indonesia's International Economic Strategies, 2023, pp 231-254 from Springer

Abstract: Abstract Asia Pacific has the Asia–Pacific Economic Cooperation (APEC) as its first mega-regional economic platform. In the 2010s era, Asia Pacific has two more mega-regional economic cooperation that also aims for trade and investment integration, which are CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership, previously entitled the TPP) and RCEP (Regional Comprehensive Economic Partnership). Some of the ASEAN members chosen ‘dual-track’ by becoming both the member state of the CPTPP and RCEP, while some chosen ‘single-track’ by just joining the RCEP. This article attempts to assess the ASEAN likelihood on both tracks from economic perspectives. It applies macroeconomic indicators comparison, the RCA (Revealed Comparative Advantage), CMSA (Constant Market Share Analysis), and the GTAP (Global Trade Analysis Project) model. This chapter finds that the RCEP offers more economic convergence, closer to the ASEAN Way, and preserves the balance between ‘open and economic convergence’ of the ASEAN.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-8458-9_9

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DOI: 10.1007/978-981-99-8458-9_9

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