Asan Plenum

RELEASE EMBARGO DATE: April 22, 2014 at 9:00 AM

Panel: New Asian Economic Order (RR)
Date/Time: Tuesday, April 22, 2014 / 16:00-17:15
Talking Points for: J. James Kim, The Asan Institute for Policy Studies

Comprehensive regional trade agreements such as TPP and RCEP are certainly monumental in their own regard. Together, these trade regimes account for nearly $50 trillion or 57-60% of the global economy and more than 4 billion people. The ability of these agreements to serve as the basis for a new Asian economic order may depend on the ability of the participating nations to reach an agreement. With or without these agreements, however, a rapidly rising China and India as well as the continued development of other Asian economies will be the basis of the new Asian economic order. The question remains – will these regional trade agreements condition the manner and pace with which these economies will integrate into the global market? Time will tell.