Session
Rapidly Rising Protectionism and East Asia’s Responses
- Time
- 14:00 ~ 15:30
- Organization
- East Asia Foundation
- Room
- Samda
A looming US-China “trade war” is likely to impact trade-oriented East Asian countries and the global trading system. U.S. President Donald Trump has launched a series of unilateral safeguard measures against products mainly from China and some from South Korea to pursue his “America First” policy. The U.S. is also demanding “fair trade and investment” practices in intellectual property rights. Given unprecedented ongoing trade disputes between G2 economies, what would be short and medium-term consequences? East Asia has been highly dependent on the US free market to maintain its economic growth. How should East Asia adjust to a rapidly emerging protectionist trade regime? Should East Asia push harder to conclude the RCEP, the TPP 11 minus the US, or an expanded version of the TPP? No matter how they develop, East Asian economies need to work out other significant intra-regional trade facilitation measures whatever through efficient logistics and connectivity using big data and IoT to increase cross-border B2B, and B2C. What are other alternatives for East Asian economies, especially by China, Japan, and South Korea to minimize serious negative impacts expected due to a possible US-China trade war?