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Securing a high-standard Indo-Pacific economic architecture

Wilson, J. (2018) Securing a high-standard Indo-Pacific economic architecture. Perth USAsia Centre

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Abstract

Economic regionalism in the Asia is in flux. Since 2010, a variety of new multilateral initiatives have attempted to geographically and functionally reconfigure the regional economic architecture.

A high-standard, US-Australia-Japan-backed ‘Indo-Pacific’ model for regional integration currently competes with a minimalist and China-led ‘Asian’ alternative.

Since the Trump Administration took office in 2016, the US has ceased to be an active player in this architectural contest. The prospects for the high-standard model have suffered as a result.

Given the longstanding importance of US leadership for Asia, this poses the risk that a sub-optimal, if not wholly-adverse, regional economic architecture may emergence in its absence.

For members of the high-standard coalition, strategies must be developed and enacted now to mitigate these risks. These will ensure they retain the capacity to shape the newly-emerging regional economic architecture.

Item Type: Report
Murdoch Affiliation(s): School Of Business and Governance
Series Name: Briefing note for the United States-Australia Indo-Pacific Cooperation Dialogue
Publisher: Perth USAsia Centre
URI: http://researchrepository.murdoch.edu.au/id/eprint/41795
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