The regional trade governance architecture is in flux. The latest
wave of regionalism in the form of mega-regional trade partnerships
between countries with major shares of the world economy occurred
in the aftermath of the Global Financial Crisis of 2008-09. The
most systematically important mega-FTAs included the Trans-Pacific
Partnership led by the United States (US), the China-backed
Regional Comprehensive Economic Partnership, and the Transatlantic
Trade and Investment Partnership between the European Union (EU)
and the US. Drawing on policy diffusion and competitive regionalism
literatures, Xianbai Ji develops an innovative model of competitive
spill-over to uncover the historical and contemporary sources of
mega-regionalism resulting from a temporal clustering of mega-FTA
initiatives from great powers. In the book, mega-FTA is
conceptualised as an instrument of geo-economic competition between
the US, China, and the EU. Each aspired to leverage its mega-FTA to
gain an edge over its rivals in economic, geopolitical, and legal
terms. Through a mix-method research strategy involving computable
general equilibrium modelling, game theory, desk research, and
perception survey, Ji generates an impressive chorus of
quantitative, qualitative, and perceptual data demonstrating that
the rise of mega-regionalism was driven by the multidimensional
competition between the US, China, and the EU over international
economic benefits, geopolitical influence, and the authority to
write rules governing emerging trade issues. This book will attract
academics, think tankers, practitioners, and postgraduate students
interested in regionalism, international trade, international
political economy, applied trade policy analysis, great power
competition, geo-economics, and international relations.
General
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