Virtual Library File - China flexes its muscles at APEC with the revival of FTAAP

The world of international trade is changing in a way that has so far been unseen in scale and depth. With more and more regional and mega-regional free trade agreements under consideration, global markets are splitting up into fewer, larger, and more powerful trading blocs. The developed countries participating in these agreements expect large increases in trade volume and increases in income due to lower tariffs and the removal of non-tariff barriers. The effects of these agreements on emerging markets, however, are less clear.