Mega-regionals and the mega-mess: A way out

June 1, 2014

This column discusses the difficulties involved in consolidating free trade agreements at the regional level, and argues that piecing together the blocs around the world will be even more challenging. A potential way forward is to return to the most widely used modality of trade liberalisation – unilateral actions – but this time involving the multilateralisation of preferences rather than unreciprocated reductions in tariff rates.

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Topics: HARMONIZED SYSTEM REGIONAL TRADE AGREEMENTS (RTAS)

Regions: ASIA-PACIFIC

Authors: JAYANT MENON

Publishing Institution: VOX - CEPR'S POLICY PORTAL

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