Comments on: How should the US engage with the Asian economy? – Weekly editorial http://www.eastasiaforum.org/2010/05/31/how-should-the-us-engage-with-the-asian-economy/ Economics, Politics and Public Policy in East Asia and the Pacific Sun, 12 Feb 2012 22:50:38 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Emmanuelhttp://www.eastasiaforum.org/2010/05/31/how-should-the-us-engage-with-the-asian-economy/comment-page-1/#comment-120905 Emmanuel Thu, 03 Jun 2010 08:49:11 +0000 http://www.eastasiaforum.org/?p=12150#comment-120905 Interesting post; here are some thoughts: 1. From reading the above, one may get the impression that TPP is still being negotiated amongst Australia, Brunei, Chile, New Zealand, Peru, Singapore, the US and Vietnam. More accurately, it should be characterized as the other countries wishing to participate in an existing agreement with countries that, aside from member Brunei, have already been very active in signing PTAs: Chile, New Zealand, and Singapore. 2. Several developing member economies have, for the longest time, been keener on capacity building than economic integration in APEC. The US, on the other hand, has kept pushing for further trade liberalization without much reflection. However, developing economies' interests in the ECOTECH agenda is understandable: acquiring the capacity to pursue meaningful economic integration precedes economic integration itself. Indeed, many view economic integration initiatives with disdain as an American put-on quite removed from the original intent of APEC. If TPP is viewed as yet another attempt by the US to preempt closure--now essentially "if you can't beat 'em, join 'em"--then think of it as yet another in a long line of failed US initiatives alike Early Voluntary Sector Liberalization (EVSL) and FTAAP. Why should anyone expect any different this time around? 3. We have written at some length about various integration initiatives proposed by China, Japan, and the US sometime ago and your readers may be interested in the points raised above and more: http://ipezone.blogspot.com/2010/04/china-japan-and-us-contest-heart-of.html Best wishes, Emmanuel Yujuico Research Fellow in Southeast Asia International Affairs LSE IDEAS Interesting post; here are some thoughts:

1. From reading the above, one may get the impression that TPP is still being negotiated amongst Australia, Brunei, Chile, New Zealand, Peru, Singapore, the US and Vietnam. More accurately, it should be characterized as the other countries wishing to participate in an existing agreement with countries that, aside from member Brunei, have already been very active in signing PTAs: Chile, New Zealand, and Singapore.

2. Several developing member economies have, for the longest time, been keener on capacity building than economic integration in APEC. The US, on the other hand, has kept pushing for further trade liberalization without much reflection. However, developing economies’ interests in the ECOTECH agenda is understandable: acquiring the capacity to pursue meaningful economic integration precedes economic integration itself.

Indeed, many view economic integration initiatives with disdain as an American put-on quite removed from the original intent of APEC. If TPP is viewed as yet another attempt by the US to preempt closure–now essentially “if you can’t beat ‘em, join ‘em”–then think of it as yet another in a long line of failed US initiatives alike Early Voluntary Sector Liberalization (EVSL) and FTAAP. Why should anyone expect any different this time around?

3. We have written at some length about various integration initiatives proposed by China, Japan, and the US sometime ago and your readers may be interested in the points raised above and more:

http://ipezone.blogspot.com/2010/04/china-japan-and-us-contest-heart-of.html

Best wishes,

Emmanuel Yujuico
Research Fellow in Southeast Asia International Affairs
LSE IDEAS

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