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East Asia and the new regionalism in world trade.

By:

PANAGARIYA, Arvind

Material type: Text

TextPublication details: 1994Action note:

3/7/00 M2LMGR

Summary: Argues that the costs of sub-regional preferential trading schemes such as the ASEAN outweigh their benefits. Evaluates the case for a region-wide, discriminatory bloc along the lines of the EU or NAFTA, and concludes that though the threat of such a bloc may keep the NAFTA and EU from turning into closed blocs, its actual execution is a risky proposition. Evaluates the case for GATT-style, MFN-based nondiscriminatory liberalisation.

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Argues that the costs of sub-regional preferential trading schemes such as the ASEAN outweigh their benefits. Evaluates the case for a region-wide, discriminatory bloc along the lines of the EU or NAFTA, and concludes that though the threat of such a bloc may keep the NAFTA and EU from turning into closed blocs, its actual execution is a risky proposition. Evaluates the case for GATT-style, MFN-based nondiscriminatory liberalisation.

3/7/00 M2LMGR

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