Abstract
The ASEAN+3 proposal has attracted attention in Asia and the world. We argue
that a free trade agreement (FTA) for ASEAN+3 is beneficial to all member
countries due to three factors: (i) existing and expected vertical foreign direct
investment linkage between Japan/Korea and ASEAN member countries, (ii) high
expected growth rate of the Chinese economy, and (iii) the economic diversity
among members of ASEAN+3 group
that a free trade agreement (FTA) for ASEAN+3 is beneficial to all member
countries due to three factors: (i) existing and expected vertical foreign direct
investment linkage between Japan/Korea and ASEAN member countries, (ii) high
expected growth rate of the Chinese economy, and (iii) the economic diversity
among members of ASEAN+3 group
| Original language | English |
|---|---|
| Pages (from-to) | 1-31 |
| Number of pages | 32 |
| Journal | Journal of Economic Integration |
| Volume | 25 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - Mar 2010 |
| Externally published | Yes |
Bibliographical note
The authors benefited from presentation of an earlier version of this paper at theConference on New Regionalism in East Asia, held in Korea, and two referees’
comments. This project was financially supported by the Research Grant Council
of Hong Kong (grant number HKUST6214/00H), the City University of Hong
Kong (grant number 7001140), and the Research Center for International
Economics of the City University of Hong Kong.
Keywords
- ASEAN
- free trade agreement
- trade creation
- trade diversion
- foreign direct investment
- trading bloc
