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China, Asia, and the New World Economy$
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Barry Eichengreen, Yung Chul Park, and Charles Wyplosz

Print publication date: 2008

Print ISBN-13: 9780199235889

Published to Oxford Scholarship Online: May 2008

DOI: 10.1093/acprof:oso/9780199235889.001.0001

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China and the Multilateral Trading System

China and the Multilateral Trading System

(p.145) 6 China and the Multilateral Trading System
China, Asia, and the New World Economy

Robert Z. Lawrence

Oxford University Press

This chapter examines the implications of China's emergence for the global trading system. It asks whether China's bilateral and regional initiatives might undermine the multilateral trading order and whether China is seeking to establish an East Asian trading bloc that discriminates against nonparticipating countries. It is argued that concerns about a Fortress East Asia are misplaced. Both directly and through the induced reaction of other countries, China's bilateral agreements with regional partners could provide a powerful impetus to the process of competitive liberalization. Moreover, countries implementing agreements with China should find it relatively easy to open their markets to other developing countries.

Keywords:   multilateral trading system, East Asian trade, Fortress East Asia, bilateral agreements, regional trade

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