This 1998 book was the first in a major series examining Global Economic Institutions and contrasts regional economic integration in the Asia Pacific Region and in Europe. In the Asia Pacific Region at the time of publication, regionalism was developing by means of 'open regionalism', constructed through the APEC (Asia Pacific Economic Cooperation Process). This was different from the regionalism which had 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 by an international team of contributors. How should Europe and other parts of the world respond to the development of open regionalism in the Asia Pacific Region? Can these regions develop a shared global agenda directed toward sustaining genuinely multilateral solutions to international trade policy problems?
• An important debut for a major series • Was the first book to discuss the future directions of regionalism in the world economy, in particular international trade relations between the Asia Pacific region and the rest of the world • Contributors are leading scholars with track record of sales success
List of figures; List of tables; List of contributors; Preface; Part I. Context: 1. Europe and East Asia: a shared global agenda? P. Drysdale, D. Vines, B. House; 2. Commercial links between Western Europe and East Asia: retrospects and prospects K. Anderson and J. Francois; 3. Regionalism in Europe and the Asia Pacific R. Pomfret; Part II. Regional Identities: 4. European integration: retrospect and prospect R. Portes and D. Vines; 5. Open regionalism: the nature of Asia Pacific integration P. Drysdale, A. Elek and H. Soesastro; 6. Beyond liberalisation of trade in goods: alternative strategies for regional trade and investment facilitation P. S. Intal Jr. and C. Findlay; Part III. Modelling the regional integration process: 7. Trade liberalisation in the European Union and APEC: what if the approaches were exchanged? Y. Yang, R. Duncan and T. Lawson; 8. Regional and multilateral trade liberalisation: the effects on trade, investment and welfare W. J. McKibbin; Part IV. Linkages between Europe and East Asia: 9. Europe's trade, investment and strategic policy interests in Asia and APEC R. J. Langhammer; Part V. Global Issues: 10. China and the global system J. Y. Lin; 11. Regionalism and the world trading system: reflections on trends in EU, US and APEC policy J. Rollo; 12. Europe and Asia Pacific Economic Cooperation R. Garnaut.
Review of the hardback: 'It is rare that a project can be described as 'visionary'. Yet the word is undoubtedly apt here … The fact that this book has emerged at the end of it is a testament indeed to its editors and planners … The gems, as is usual in any edited collection, are sprinkled through the work. To my mind, those that shine most brightly are from writers who look one or two decades ahead. Kym Anderson and Joseph François use econometric modelling to consider the effect of three scenarios - APEC completing its tariff cuts on schedule; the successful conclusion of another WTO round, leading to extensive reductions in trade barriers; the China and Taiwan entering the WTO (a topic also dealt with in a pithy piece of Justin Lin). Yongzheng Yang, Ron Duncan and Tony lawson analyse an even more fascinating question - what if APEC and the EU each adopted the other's policy on trade liberalisation? Australian Journal of International Affairs