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date: 21 June 2021

Abstract and Keywords

This chapter specifies key patterns in Asian trade over the past three decades and then examines each of the major trade accords from an institutional bargaining framework. It also looks at the current interests of the major countries with respect to countries’ preferred trade institutions and their respective champion countries: (1) Free Trade Area of the Asia-Pacific (FTAAP) and the United States; (2) ASEAN+3 and China; (3) ASEAN+8 and Japan; (4) bilateral FTAs and South Korea; and (5) India’s Look East Policy and its pursuit of FTAs. With respect to their likely future trajectory, this chapter concludes that the extent to which these trade-focused institutions will achieve some type of nested arrangement or horizontal division of labor remains an open question.

Keywords: WTO, APEC, ASEAN, FTA, FTAAP, ASEAN+3, ASEAN+8, institutional bargaining

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