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Trade-led Growth

A Sound Strategy for Asia

image of Trade-led Growth
The global economic crisis triggered changes in real economies and trade in all countries, including those in Asia, which adopted the so-called export-led growth model. With these drastic changes in trade flows, and the need to counteract potential adverse effects, the old debate on the advantages and flaws of the export-led model has re-opened. It aims to provide some theoretical and empirical reasons towards an argument that for developing Asian economies, export-led growth is still a valid model of stable, equitable and sustainable growth. It also combines local research with that of established ones. While there is extensive literature focusing on the role of openness and trade in a country’s development, much of it dates to before the most recent global crisis. Volumes that were recently published argue against an export-led growth strategy, while this volume argues in defence of trade-led growth for the Asian region.

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Political economy of multilateralization in Asia

“We are in favour of high-quality and comprehensive FTAs … We are in favour of initiatives that ensure bilateral and regional trade arrangements are more consistent with the multilateral trading system. Our announcement to join negotiations on the Trans Pacific Partnership is perhaps the most important initiative the Rudd Government has taken to fulfil that aim (Australian Minister for Trade, Simon Crean).

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