1 Asia-Pacific Regional Economic Cooperation: Origin, Issues and Prospect 亞太地區經濟合作：始源、課題與前景 Professor Edward K.Y. Chen （陳坤耀教授） Chairman, Hong Kong Committee.

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Presentation transcript:

1 Asia-Pacific Regional Economic Cooperation: Origin, Issues and Prospect 亞太地區經濟合作：始源、課題與前景 Professor Edward K.Y. Chen （陳坤耀教授） Chairman, Hong Kong Committee for Pacific Economic Cooperation 14 Oct 2006

2 Forms of Cooperation 合作的形式 1.Forum/Dialogue 2.Preferential Trading Agreement (PTA) 3.Custom Union 4.Common Market 5.Monetary Union

3 Reasons for Cooperation 合作的原因 1.Trade Creation For the Country, Region and the World 2.Pooling Resources Natural, Physical and Human 3.Policy Coordination

4 Abbreviations 1.AFTAASEAN Free Trade Area 2.APECAsia Pacific Economic Cooperation 3.ASEANAssociation of Southeast Asian Nations 4.BTABilateral Trade Agreement 5.EAECEast Asia Economic Caucas 6.EAEGEast Asia Economic Grouping

5 7.EUEuropean Union 8.FTAAFree Trade Area of the Americas 9.NAFTANorth American Free Trade Agreement 10.PAFTAPacific Free Trade Area 11.PAFTADPacific Trade and Development Conference 12.PECCPacific Economic Cooperation Council 13.RTARegional Trading Agreements 14.WTOWorld Trade Organization

6 Evolution of Asia-Pacific Economic Cooperation s to 1980s Cross-regional East Asia – North America – Australasia PAFTA, PAFTAD, PECC, APEC, ASEAN Leaders: USA, Japan

s Regional East Asia EAEG, EAEC, AFTA Leaders: Malaysia, Japan ???

s Bilateral – RTA/BTA Deeper, Non-trade, Non-WTO, Faster cooperation Stepping stone or Stumbling block?

s Sub-regional Asean-Plus-Three, Asean-Plus-One Hub/Leader: China?

10 Factors Contributing to Asia-Pacific Sub-Regional Economic Cooperation 1.Geo-politics Increased integration in America: NAFTA, FTAA Increased integration in Europe: EU – A Monetary union

11 USA’s “Deeper” involvement in the Middle East Emergence of China as a world economic and military power

12 2.Geo-economics China as a production hub and an engine of growth in the region Economic Complementarity Sub-regional division of labour Increased intra-regional trade and investment

13 Asian financial crisis and international failure The APEC process in liberalizing trade?

14 New Thinkings of Cooperation 1.Economics to beyond economics regional security, civil security, health, neo-economic security 2.Informal to semi-formal 3.Cross-regional to sub-regional

15 4. USA/Japan to China as leader 5. China as the hub in a hub-spoke, spoke-spoke relationship

16 A Scenario of Workable Globalization with Building Blocks Regional–Formal High degree Sub-regional–Semi-formal Medium degree Cross-regional–Informal Loose

17 Challenges 1.National Autonomy 2.Political/ Cultural/ Social Diversity 3.Presence of Indisputable Leader(s) 4.Geopolitics 5.Geoeconomics

18 Thank You ！