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"GFJ Commentary"
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"GFJ Commentary" presents views of members and friends of GFJ on the relations of Japan with the rest of the world and other related international affairs. The view expressed herein is the author's own and should not be attributed to GFJ.
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"World Economy Divided into Blocs?"
By OGATA Rintaro
former member of the House of Representatives
Given the fact that Japan has finally turned to such a variety of free trade networks, including TPP, Japan-Europe, and Japanese-China-South Korea frameworks, I would like to give it some thought from a somewhat different perspective. The question is whether or not the world economy is being divided into blocs, and to what extent. This is the topic I discussed with two of my fellow members of the Diet when I was an active member. In my view, the most ideal form of free-trade system is the WTO/GATT system. It is most desirable to promote free trade on a global scale under common rules.
It is so for a variety of reasons including the one that it would yield increasing benefits to the world at large as long as it sticks to the principle of the most-favored-nation treatment. Free trade agreements composed only of volunteer countries are not accessible to small countries or not quite effective without super powers and thus virtually excluding least less-developed countries to a certain extent. However, the WTO Doha Negotiations, already twelve years since its launch, have now reached a complete deadlock. WTO is currently functioning merely as an executive organ of the current rules and as a dispute resolution mechanism. And, a variety of frameworks of free trade agreements are stretching in a finely meshed pattern across the globe.
Under the circumstances, future trading system of the world is expected to be separating itself into trading blocs to a certain degree, though only highly gradually. Needless to say, the world is being so globalized and information networks are established worldwide through the Internet, but under such globalized trading systems, blocs or groups of economies seem to be emerging to a certain degree though only "highly gradually." I repeat "highly gradually." The globalized world is the initial premise, and inside such a world, it is necessary for us to pay attention to the emergence of blocs as a big picture, though I have no idea in what form, how fast, or to what extent it should proceed.
Europe has already consolidated itself as a single market by way of forming a customs union, and this, too, can be considered a sort of trading bloc. For, a customs union not only liberalizes intra-regional trade but also takes on an advanced way of applying a uniform tariff externally. NAFTA of North America has a similar feature. They are, in this way, considered to be gaining footholds by themselves and at the same time venturing into the globalized world. I think "blocs" in this context are not purely a geographical element but are largely so. For Japan, it could be "Japanese-China-South Korea," "Pan-Pacific," or "East Asia at large." I do not mean to say that we should withdraw into a region, whatever it may be, excluding some other countries. I am merely giving my vague impression of the world gradually separating itself into some groups as a long-term trend.
(This is the English translation of an article which originally appeared on the e-Forum "Giron-Hyakushutsu" of GFJ on 10 April, 2013, and was posted on "GFJ Commentary" on 19 June, 2013.)
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For more views and opinions in the backnumber of "GFJ Commentary," the latest of which are as follows, please refer to:
http://www.gfj.jp/eng/commentary/backnumber.html
No.48 "We Cannot Afford to See PM 2.5 Pollution Indifferently"
by SAKAI Nobuhiko, Director of Japan Institute of Nationalism Studies and former Professor of the University of Tokyo
(31 March 2013)
No.47 "On Trenin's Proposal for Russia to Return Four Disputed Islands to Japan"
by HAKAMADA Shigeki, Professor, University of Niigata Prefecture
(28 February 2013)
No.46 "Japan Should Formulate the Basic Policy of Living Without China"
by OGAWA Hajime, Visiting Professor, Bunka Gakuen University
(13 December 2012)
No.45 "A bluff is the best way to approach Japanese"
by FUJINAGA Takeshi, the Reservists' Blue-Ribbon Association Secretary
(19 October 2012)
No.44 "Still in Office, NIWA Uichiro? Shame on You"
by OKADA Shoichi, former corporate executive
(17 August 2012)
No.43 "Will World Uyghur Congress Sink a Great Ship?"
by MUTSUJI Shoji, Lecturer, Yokohama City University
(26 June 2012)
"GFJ Updates"
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"GFJ Updates" introduces to you the latest events, announcements and/or publications of GFJ.
Publication
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Report of The Japan-GUAM Dialogue on "Future Prospect of the Japan-GUAM Partnership for Democracy and Economic Development"
The Global Forum of Japan (GFJ), under the co-sponsorship with GUAM-Organization for Democracy and Economic Development, organized the "The Japan-GUAM Dialogue" on the theme of "Future Prospect of the Japan-GUAM Partnership for Democracy and Economic Development" in Tokyo on May 16, 2013.
For the full text of the "Report of The Japan-GUAM Dialogue," please refer to :
http://www.gfj.jp/eng/dialogue/48/main.pdf
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