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Fred Bergsten of Institute for International Economics is pushing for creation of a Free Trade Area of the Asia-Pacific Region (FTAAP) -- a plan B to get the world back on track given the faltering Doha Round (See today's Financial Times column.) An FTAAP with the U.S., Japan, and China and the 18 other current members of APEC (Asia-Pacific Economic Cooperation group) constitute half the world economy.
He makes a good argument. Doesn't it also apply to the dormant FTAA (Free Trade Agreement of the Americas) negotiations? The U.S. resisted making any deal on agriculture with Brazil and the other Latin American countries pending the Doha deal. Won't the U.S. have to yield on agriculture in an FTAAP, and will whatever the Asians get on U.S. agriculture be enough for the Latins?
CGD blog posts reflect the views of the authors, drawing on prior research and experience in their areas of expertise. CGD is a nonpartisan, independent organization and does not take institutional positions.