The United States and the New Regionalism/ Bilateralism

WPIEA2062003 Image
Price:  $15.00

Author/Editor: Yongzheng Yang, Alvin Hilaire
Release Date: © October, 2003
ISBN : 978-1-45187-462-4
Stock #: WPIEA2062003
Stock Status: On back-order

Languages and formats available



Current U.S. trade policy stresses establishing free trade areas (FTAs) with partners spanning the globe. Motivations include enhancing goods and services trade; stimulating investment flows; extending standards on intellectual property rights, labor, and the environment; and addressing geopolitical concerns. Simulations of FTAs with the United States highlight the importance of trade complementarity, trade diversion, and welfare losses for nonmembers. Agriculture and textiles play a central role in determining welfare outcomes. Initial improvement in market access enjoyed by participants could be eroded progressively as global liberalization proceeds, and this preference erosion might act as a disincentive to participate in multilateral liberalization.


International trade , Trade liberalization

More publications in this series: Working Papers

More publications by: Yongzheng Yang ; Alvin Hilaire