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You are here: Home Knowledge Base Multilateral Regionalism and Emerging Markets – Opportunities and Risks in Global Trade Virtual Library China flexes its muscles at APEC with the revival of FTAAP
Symposium 2015

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

The Challenge

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 ...

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.

The "BRICS" states, including China, and other emerging markets need to position themselves with regard to the increasing emergence of mega-regional trade agreements. They can work towards a greater inclusion into large Western free trade agreements like TTIP and TPP (Trans-Pacific Partnership) or they can choose to create their own mega trade zones. The article looks at China's plans to create the FTAAP (Free Trade Area of Asia Pacific) as a counter-concept to the American TPP.