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Mega-regional Economic Integration in the Asia-Pacific: Convergence of RCEP and TPP

Weon Sik KANG 1

1가톨릭관동대학교

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ABSTRACT

While the mega-FTAs in the APR - RCEP, TPP and KCJ-FTA - are often thought of as the reflection of the US-China regional hegemonic rivalry, I think it is better to consider them of complementarity and harmonization from the following viewpoints:First, we should fix the sight upon the economic aspects in so far as the mega-FTAs are the attempts to set up a new economic order. Second, the mega-FTA is emerging with the object of expanding the supply-chain and solving spaghetti-bowl problem within bilateral FTAs, so that RCEP and TPP also have to be harmonized and taken. Third, RCEP and TPP have the common aspects to cooperate and unify, such as, overlapping membership, common relations with APEC, mutual economic entanglement and so on. China is already on the move to accelerate reform of state-owned enterprises and prepare for TPP membership. The US cannot help inviting China to TPP with relative-favorable terms for the sake of inducing the change of the state capitalism and enlarging economic benefit of TPP. ASEAN whose members are split to two blocks is seeking the regional harmony and unity. Korea is attempting to serve as a linchpin to connect RCEP and TPP on the basis of the Korea-US FTA and the Korea-China. Confrontation between the mega-FTAs will inevitably lead to diseconomy. All relating countries should concentrate their efforts to make the most of harmony, so that the efficiency and economic benefits of the mega-FTAs could be maximized and eventually integrated unitarily.

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* References for papers published after 2023 are currently being built.

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