ABSTRACT

Since the multilateral trade negotiations under the Doha Development Agenda (DDA) have stalled and the Trump Administration in the United States started to set protectionist measures, US trading partners, including countries in East Asia, began to bring cases to the World Trade Organization’s Dispute Settlement Procedure and to actively participate into bilateral or regional trade talks in order to secure their foreign markets. After realizing the so-called Asian noodle bowl effects in East Asia due to its complexity of regional trade agreements, countries in East Asia need to multilateralize regionalism in this area, by promoting the non-discriminatory extension of trade preferences to additional trading partners, in order to achieve common economic prosperity. Moreover, the process of multilateralizing regionalism in East Asia must be done in a Global Value Chain (GVC)-friendly manner, so that countries in this area can strengthen regional production network of multinational corporations in this area. In addition, the process must be designed in a development-friendly manner, so that countries, with their own development strategies, in this area can fully capitalize their export opportunities.