Economic Integration in Northeast Asia: Search for a Feasible Approach

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Author: 
Inkyo Cheong
Description: 
Public Access Documents
JEL codes: 
Abstract: 
According to simulation results, the formation of an FTA would substantially improve Koreas and Japans trade balances, while China would experience a sizeable increase in its trade deficit. This indicates that simple barriers (NTBs) within a short period of time is not a feasible approach for economic integration in Northeast Asia. Therefore in creating the Northeast Asian Free Trade Area, we need to implement a strategy that will gradually lead to regional economic integration in the region.