Comparing the Economic Impact of the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership

2013 ◽  
Vol 12 (2) ◽  
pp. 144-164 ◽  
Author(s):  
Inkyo Cheong ◽  
Jose Tongzon
Keyword(s):  
Economic Impact ◽  
Economic Integration ◽  
Computable General Equilibrium ◽  
Trade Agreement ◽  
The United States ◽  
Computable General Equilibrium Model ◽  
Asia Pacific ◽  
Economic Partnership ◽  
Asean Countries ◽  
Regional Comprehensive Economic Partnership

Several initiatives have emerged for regional economic integration in the Asia-Pacific region. The United States has led the negotiations for the Trans-Pacific Partnership agreement, and ASEAN countries have recently started to promote the Regional Comprehensive Economic Partnership. This paper estimates the net economic impact of these initiatives by eliminating the overlapping portions of free trade agreement–related economic gains through the use of a dynamic computable general equilibrium model. The paper analyzes the economic and political feasibility of these two initiatives and assesses their economic impacts. Finally, the paper provides implications for economic integration in East Asia based on a quantitative assessment.

Washington is unlikely to join key Pacific trade pact

2020 ◽  
Keyword(s):  
United States ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The United States ◽  
Asia Pacific ◽  
Rules Of Origin ◽  
Content Type ◽  
The United Kingdom ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership

Significance Beijing’s announcement came shortly after it and 14 other Asia-Pacific countries signed the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement (FTA). Some US partners want Washington to join the CPTPP. Impacts As the largest economy in RCEP, China will have greater leverage in defining trade standards in the region. RCEP’s standardised rules of origin will enable its members to strengthen supply chains within the bloc. The United States remaining outside the CPTPP could diminish the pact’s appeal to the United Kingdom, which wants to become a member.

scholarly journals Trans - Pacific Economic Integration Processes

2016 ◽  
Vol 54 (1) ◽  
pp. 83-102
Author(s):  
Dejana Gajinov
Keyword(s):  
Free Trade ◽  
Economic Integration ◽  
Regional Integration ◽  
Free Trade Area ◽  
The United States ◽  
Asia Pacific ◽  
Economic Relations ◽  
Important Region ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership

AbstractAsia-Pacific (AP) region is the world’s most important region today from the viewpoint of long-term economic growth. It is also the extremely important cite of rivalries or partnerships - or both - between China and the United States. The strong expansion of trade, investment and other economic ties within the AP region has stimulated the process of economic integration. The network of bilateral and regional free trade agreements has increased dramatically in recent years, linking virtually all major trading countries in the region, with one exception: either the US or China have not become members of the free trade arrangements involving the other country. The paper examines the scope, principles and characteristics of economic relations and cooperation in the AP region. The issue of whether Asian efforts for regional integration have been compatible with an open multilateral trading system at the global level is also addressed. The paper also assesses changes in the dynamics of regional integration and its future prospects. In this sense, in the Asia Pacific there are now two tracks which lead to the formation of a Free Trade Area of the Asia-Pacific (FTAAP): Asian, based on the Association of Southeast Asian Nations (ASEAN) and the Regional Comprehensive Economic Partnership (RCEP) and trans-pacific, based on Trans-Pacific Partnership (TPP).

scholarly journals Economic Implications of the Regional Comprehensive Economic Partnership for Asia and the Pacific

2021 ◽  
Author(s):  
Cyn-Young Park ◽  
Peter A. Petri ◽  
Michael G. Plummer
Keyword(s):  
Computable General Equilibrium ◽  
Computable General Equilibrium Model ◽  
Regional Trade ◽  
Economic Implications ◽  
The Pacific ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership ◽  
Factor Returns ◽  
Investment Patterns ◽  
Trade And Investment

The Regional Comprehensive Economic Partnership (RCEP) presents strong potential to mold regional trade and investment patterns well into the future and to influence the direction of global economic cooperation at a challenging time. This paper evaluates the RCEP’s impact on global and regional incomes, trade, economic structure, factor returns, and employment using a computable general equilibrium model. The results suggest that the RCEP agreement could generate sizable global income gains. Together with the Comprehensive and Progressive Agreement on Trans-Pacific Partnership, the RCEP will also strengthen the region’s manufacturing supply chains, raising productivity and increasing wages and employment.

scholarly journals International Trade Law and Information Policy: A Recent History

2014 ◽  
Vol 42 (2) ◽  
pp. 241-292 ◽  
Author(s):  
Genevieve Tung
Keyword(s):  
United States ◽  
Trade Agreement ◽  
The United States ◽  
Asia Pacific ◽  
Trade Law ◽  
International Trade Law ◽  
Wide Range ◽  
Economic Partnership ◽  
Partnership Agreement ◽  
Strong Agreement

In September 2008, the United States Trade Representative (USTR) announced the United States’ intention to join Singapore, New Zealand, Brunei, and Chile in what was then called the Trans-Pacific Strategic Economic Partnership Agreement, a preferential trade agreement. Since then, the agreement has grown in scope and ambition. The negotiations to create what is now known as the Trans-Pacific Partnership (TPP) have expanded to include seven other nations. The USTR wants the TPP to be “an ambitious, next-generation, Asia-Pacific trade agreement that reflects U.S. economic priorities and values.” According to the USTR's webpage dedicated to the agreement, the administration is “working in close partnership with Congress and with a wide range of stakeholders, in seeking to conclude a strong agreement that addresses the issues that U.S. businesses and workers are facing in the 21st century.”

Modeling the Impacts of Free Trade Agreements on Domestic Transportation Gateways, Corridors, and Ports

2017 ◽  
Vol 2611 (1) ◽  
pp. 1-10 ◽  
Author(s):  
Chris Bachmann
Keyword(s):  
Free Trade ◽  
Computable General Equilibrium ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Trade Agreements ◽  
The United States ◽  
Asia Pacific ◽  
The European Union ◽  
Potential Impact ◽  
The Government

Canada has recently made progress with several free trade agreements (FTAs), and although the government has carried out considerable analysis of their potential impact on the Canadian economy, little to no work has been done to assess the potential impact on Canada's transportation system. The objective of the research was to estimate the impacts of recent and forthcoming FTAs on Canada's domestic trade infrastructure. This study extended a typical computable general equilibrium simulation of an FTA by estimating high-level domestic supply chain characteristics (i.e., subnational region of origin or destination, sub-national region of exit or entry, international transportation mode, port of clearance) and by converting the resulting trade flows to freight flows measured in tonnage. The results indicate that the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union (EU) may have had large impacts on Canada's Continental and Atlantic Gateways, especially at the Port of Montreal, Quebec, as a result of trade creation with the EU. CETA also has had impacts on various crossings at the U.S. border as a result of trade diversion with the United States. Simulations, however, suggested that the Canada–Korea Free Trade Agreement has had relatively small impacts, mostly concentrated in the Asia-Pacific Gateway, particularly at the Port of Vancouver, British Columbia. Although the impacts were FTA-specific, this research demonstrated the need to consider FTAs in commodity forecasting and freight transportation planning, because they could make sizable changes to future freight flows on domestic transportation infrastructure.

scholarly journals Markets Matter: The Potential of Intra-Regional Trade in ASEAN and Its Implications for Asian Regionalism

2017 ◽  
Vol 16 (2) ◽  
pp. 1-19 ◽  
Author(s):  
Lurong Chen ◽  
Philippe De Lombaerde ◽  
Ludo Cuyvers
Keyword(s):  
Economic Integration ◽  
Regional Integration ◽  
Quantitative Assessment ◽  
Regional Trade ◽  
The World ◽  
Asian Regionalism ◽  
Economic Partnership ◽  
Asean Countries ◽  
Regional Comprehensive Economic Partnership

This paper attempts to shed new light on further deepening the economic integration process in Southeast Asia using a quantitative assessment of the potential for further developing intra-regional trade. It is evident that ASEAN's export space is expanding faster than the world average and that there is still room for ASEAN countries to further develop the role of their intra-regional trade. To improve its export potential, ASEAN should liberalize trade not only intra-regionally but also globally. It could be in ASEAN's interest to accelerate the pace of regional integration under frameworks that involve the participation of non-ASEAN countries, especially an ASEAN Framework for Regional Comprehensive Economic Partnership.

scholarly journals Motif dan Kepentingan China dalam Pembentukan Regional Comprehensive Economic Partnership (RCEP)

2022 ◽  
Vol 6 (1) ◽  
Author(s):  
Muhammad Ferdy Pratama ◽  
Palwa Ibnu Sosa ◽  
Tegar Yulianto
Keyword(s):  
Qualitative Method ◽  
Trade Agreement ◽  
The United States ◽  
Chinese Economy ◽  
Asian Countries ◽  
The World ◽  
China And Japan ◽  
Trade War ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership

The establishment of the Regional Comprehensive Economic Partnership (RCEP) began because of the conflict between China and Japan. The establishment of RCEP is to create the largest trade agreement in the world because this cooperation unites regional countries with large economies. China as a country that has the largest economic level among RCEP member countries makes China control most of the market in the region. This RCEP helps China in dealing with the trade war between China and the United States, although it has not yet had a big impact. This paper uses a qualitative method and focuses on China's motives in determining the RCEP. The results of this study confirm that China's motive in determining the RCEP is to counter-balance with the TPP and China's good image to Southeast Asian countries. In addition, RCEP has a significant impact on the Chinese economy. 

What Will Happen to the US Textile and Apparel Industry if the NAFTA Goes?

2018 ◽  
Vol 12 (2) ◽  
pp. 113-137
Author(s):  
Sheng Lu
Keyword(s):  
Free Trade ◽  
Computable General Equilibrium ◽  
Textile Industry ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
The United States ◽  
Computable General Equilibrium Model ◽  
Export Market ◽  
The Us ◽  
Textile And Apparel

This study provides a quantitative evaluation of how the termination of the North American Free Trade Agreement (NAFTA) proposed by the Trump administration will affect the US textile and apparel (T&A) industry. By adopting the Global Trade Analysis Project (GTAP) computable general equilibrium model based on the GTAP9 database, the study finds that: first, the termination of NAFTA will significantly reduce US apparel imports from NAFTA members but lead to an increase of US apparel imports from Asian countries; second, ending NAFTA will substantially reduce US textile exports to the NAFTA region, which currently is the single largest export market for the US textile industry; and third, rather than encouraging more ‘Made in the USA’, the termination of NAFTA will reduce further the output of T&A manufacturing in the United States. The findings of this study augment our understanding of the potential economic impact of ending a major free trade agreement, which has been studied little, and shed new lights on the debate regarding the T&A-specific sectoral impact of NAFTA. The findings of the study also provide valuable inputs for policymakers regarding what should or should not be done with NAFTA from the perspective of the US T&A industry. JEL Classification: F14, F15, F17

India’s Economic Integration in Services with ASEAN: From Bilateral FTAs to RCEP

2019 ◽  
Vol 1 (2) ◽  
pp. 207-223
Author(s):  
Pralok Gupta
Keyword(s):  
Free Trade ◽  
Economic Integration ◽  
Free Trade Agreements ◽  
Trade Agreement ◽  
Services Trade ◽  
Jel Codes ◽  
Opt Out ◽  
Economic Partnership ◽  
Partnership Agreement ◽  
Regional Comprehensive Economic Partnership

Given the growing importance of services in Indian economy as well as in international trade, India has offensive interests in services and these are becoming an important part of India’s effort to economically integrate with global economies including Association of Southeast Asian Nations (ASEAN). This article analyses India’s economic integration with the ASEAN region in services trade and discusses how India’s services trade interests are taken into consideration by ASEAN members in their free trade agreements with India. It also discusses services-related aspects in the Regional Comprehensive Economic Partnership agreement, a proposed free trade agreement among ASEAN and its six FTA partners including India, from which India has decided to opt-out recently. JEL Codes: F13, F14, F15

RCEP AS A TOOL FOR INTEGRATION IN THE ASIA-PACIFIC REGION (APAC): DRIVING FORCES AND CONTAINING FACTORS

2020 ◽  
Author(s):  
Anastasia Dermenzhi
Keyword(s):  
United States ◽  
Driving Forces ◽  
The United States ◽  
Asia Pacific ◽  
Slow Flow ◽  
Pacific Region ◽  
Asia Pacific Region ◽  
Global System ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership

Since the Asia-Pacific region became a world developed region, the issues of its future and the future of the global system have become closely related. The development of the Regional Comprehensive Economic Partnership project appears to be an effort to lead the integration processes in the APAC. The article examines the slow flow of the initiative from ASEAN to China, the collision of the interests of the United States and China. The author describes the process of transformation of a partially hegemonic order and the formation of a multipolar relations system regional version.

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