Common Contracts
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REGIONAL TRADE AGREEMENTS OF ASIA: CHINA PERSPECTIVESSeptember 3rd, 2007
China’s pursuit of regional and national security and great power status is both legitimate, given that there are no meaningful WTO rules prohibiting this, and beneficial to the region, considering East Asia’s troublesome geopolitical layout. However, China should be mindful of the importance of the multilateral trading system in achieving its goal. As a top trading power, China also has the responsibility to push multilateral trade liberalization rather than being obsessed with regionalism. On the other hand, it shall be realized that the quest for regional trade arrangements demonstrates many weaknesses of the WTO-led multilateral trading system. Regional movements for free trade, as currently pursued by China, shall be allowed and even encouraged to the extent that they do not create trade diversion and divergent rules from the multilateral trade system.
