Expanding the P-4 Trade Agreement into a Broader Trans-Pacific Partnership: Implications, Risks and Opportunities
In 2005, New Zealand, Singapore, Chile and Brunei entered into a path-breaking free trade agreement, the Trans-Pacific Strategic Economic Partnership Agreement which is also known as the P-4 Agreement. The agreement contains an open accession provision which explicitly contemplates the expansion of the agreement to include other countries willing to commit to its terms. The expansion of the agreement has important implications for the world trading system. Its broad coverage and open accession provision may suggest that the agreement has the potential to serve as a stepping stone in the path towards further multilateral trade liberalization in the WTO context. On the other hand, expanding the agreement could result in an agreement so powerful that its members no longer consider devoting energies to liberalizing in the WTO context to be of great importance. The article explores some of the unique aspects of the TPP as well as the potential implications of expanding the agreement, both for the East Asian region and for the broader multilateral trading system.
TPP versus ECFA: Similarities, Differences, and China's Strategies
This article analyzes the development of cross-strait economy in the international political and economic contexts. It explores how the fact that the United States promotes the Trans-Pacific Partnership Agreement (TPP) would affect the Mainland – Taiwan Economic Cooperative Framework Agreement (ECFA). It explores the similarities and differences between the TPP and the ECFA, probes the possible impacts that the TPP may have on the ECFA, and proposes strategies for China from three perspectives: developing the ECFA energetically, dealing with Taiwan investment diversion, and being open to exploring a legal channel to connect the cross-strait economy with the TPP.
Cultural Products and the World Trade Organization
Debate about trade and culture has a long history, but the application of WTO rules to cultural products such as films, radio and books remains one of the most divisive issues in the organisation. After assessing the economic and social arguments for treating cultural products differently from things like steel or wheat, this book explains how the vastly different views of WTO Members in earlier negotiations led to an outcome that is disappointing for all. It goes on to provide a comprehensive evaluation of possible solutions, including evolution of the law through WTO dispute settlement, a new agreement outside the WTO, or reforms to improve the balance between trade liberalisation and cultural policy objectives. As UNESCO's new convention affecting trade and cultural diversity is due to enter into force in 2007 and the WTO's Doha Round of negotiations is stumbling, the need for such an evaluation is all the more pressing.