This book is the first in a major new series examining Global Economic Institutions and contrasts regional economic integration in the Asia Pacific Region and in Europe. In the Asia Pacific Region, regionalism is developing by means of "open regionalism", which is different from the regionalism which has developed in Europe, through the construction of a single European Market and Monetary Union within the European Union. In the light of this contrast, a number of important contemporary policy questions are considered.
"This book assembles papers that were produced under a three year collaborative research program on 'China and APEC' undertaken by the AustraliaJapan Research Centre, in the Asia Pacific School of Economics and Management at The Australian National University and the APEC Policy Research Center, in the Chinese Academy of Social Sciences. ... The work on this project and the papers in the volume provide a base for developing ideas that could be helpful to the policy agenda for APEC 2001."--Preface.
The Asia-Pacific Economic Cooperation (APEC) was founded in 1989. Since then the forum has developed into a major player in tri-partite relations between North America, East Asia and Europe. The Seattle and Bogor Summits were landmark events suggesting to many observers a gravitational shift in the world economy and world politics. Yet the Asian financial crisis had a sobering effect on high-flying expectations as APEC contributed little to crisis management. In the light of such contradictory performance, distinguished scholars here examine APEC's achievements and failures, its role and functions in international relations, its linkages with regional organisations and the interplay between the forum and national interests of major factors in the region.
Europe and Asia are two major centres for the development of multi-polar and multi-lateral relations. This volume explores the substance and manner in which the member countries of the EU and their Asian counterparts interact at bilateral, multi-lateral and inter-regional levels.
This text analyses the economic relationship that has evolved between the European Union and East Asia, and its future prospects, especially in the wake of the financial crisis that shook East Asia.
The accession of the People's Republic of China to the World Trade Organization (WTO) in 2001 significantly transformed the global economy both de facto and de jure. At the regional level, China's WTO accession served as an important catalyst for the establishment of Regional Trade Agreements (RTAs) in East Asia. This was a novel development for the region, since East Asian States had previously followed a largely informal, market-driven approach to regional economic integration. By contrast, rules-based economic integration involving East Asian States was traditionally limited to multilateral integration under the GATT/WTO framework. This book systematically analyses and explains the development, nature and challenges of rules-based regional economic integration in East Asia with particular attention to the region's first four RTAs. While also addressing the socio-economic, historical and political factors influencing the development of RTAs in East Asia, the book focuses on the legal institutions governing economic integration in the Association of Southeast Asian Nations (ASEAN), as well as under the ASEAN–China Comprehensive Economic Co-Operation Agreement (ACFTA), the Japan–Singapore New Age Economic Partnership Agreement (JSEPA), and the Mainland China–Hong Kong Closer Economic Partnership Arrangement (CEPA). The book provides a systematic, comparative account of the scope, depth and (hard law versus soft law) quality of rules-based economic integration achieved under these four RTAs in the areas of trade in goods and services, investment liberalisation and protection, labour mobility, and dispute settlement.
Embedded in the evolving comparative regionalism literature, this book offers a systematic analysis of the factors positively and negatively influencing regional institution-building. The ruptures caused by the Eurozone crises, the coronavirus pandemic and by Brexit have renewed the interest in the impact of crises and critical junctures on regionalism here defined as regional institution-building. Drawing from critical juncture research and historical comparative analysis, this volume uses the cases of European and East Asian regional institution-building to systematically analyse institutional transformations during specific historical turning points and critical juncture moments. Wunderlich’s research offers an in-depth analysis of the interrelated drivers, spoilers and dissolvers of regional institution-building processes in Europe and East Asia, and addresses key questions including: Under what conditions does regionalism take hold? What is influencing the initial institutional design choices? What is the impact of historical experiences and well-entrenched norms and ideas? What are the roles of regional leaders? How do external factors influence regional institution-building? What turns a crisis into a critical juncture and are such junctures threats or opportunities? What accounts for variations in institutional responses to crisis events across different regional settings? This book will be a valuable resource for scholars of regionalism, region-building, regional governance and international relations of Europe and East Asia.
This unique book provides both Asian and European perspectives on a diversity of topics concerning the relationship between Asia and Europe. There are in-depth analyses of the most crucial issues including historical and cultural links, political aspects and linkages, and economic partnerships.
This book provides a systematic and thorough examination of the Asia-Europe Meeting (ASEM) process which brings together the fifteen EU member states, the European Commission and ten East and Southeast Asian countries. The author not only traces the actual development of the ASEM process, but also contextualises ASEM within three different international relations theoretical frameworks, as viewed by realists, social constructivists and institutionalists.
The aim of this book is to examine and compare the integration process in both Europe and Asia, and to draw some possible lessons for East Asia from the European experience, which culminated with the establishment of the economic and monetary union. The book embraces the political dimension of integration (peace and security), economic, trade and monetary aspects, and cultural aspects. Written by well-known experts in the field of integration, this book represents one of the first attempts at comparing Europe and Asia in the process of integration, by incorporating the latest developments in the field. The main theme of the book - integration in Asia from a comparative perspective - has been relatively unexplored as most experts in the field of integration are also 'area experts' (i.e. European integration experts or Asian experts). The contributors to the book provide a distinctive perspective based upon their understanding of integration (political, economic, and socio-cultural) across various regions of the world.
