africa.chinadaily.com.cn
Declining Trade Among China, Japan, and South Korea Highlights Need for Trilateral FTA
From 2021 to 2024, intra-regional trade among China, Japan, and South Korea fell 13.5 percent to $737 billion due to intensifying global geopolitical rivalry; however, the three countries are committed to accelerating a trilateral free trade agreement to boost regional growth and supply chain security.
- How do the existing RCEP agreements impact the proposed trilateral FTA, and what areas need prioritization in the new negotiations?
- The declining trade reflects intensifying global geopolitical rivalry impacting trilateral cooperation. However, the three countries reaffirmed their commitment to a free and open trade environment at a March meeting, suggesting a potential shift towards renewed collaboration. This is crucial given their combined economic weight (24 percent of global GDP, 40 percent of global manufacturing).
- What are the immediate economic consequences of the declining trade among China, Japan, and South Korea, and how does this impact regional stability?
- From 2021 to 2024, intra-regional trade among China, Japan, and South Korea decreased by 13.5 percent, dropping from $850 billion to $737 billion. This decline, particularly evident in Japan-ROK trade (down 7.8 percent to $77.9 billion in 2024), highlights weaknesses in regional cooperation.
- What long-term strategic advantages would a successful China-Japan-South Korea FTA offer, considering the broader geopolitical landscape and evolving trade dynamics?
- Accelerating a trilateral free trade agreement (FTA) is vital for regional supply chain security and global trade stability. Addressing issues like the digital and green economies within this FTA, alongside high-standard rules, could enhance its impact and potentially bridge the gap between the RCEP and CPTPP agreements, fostering broader Asia-Pacific free trade.
Cognitive Concepts
Framing Bias
The article strongly advocates for a trilateral free trade agreement, framing it as a solution to multiple challenges. The positive impacts are emphasized throughout, particularly economic growth and regional stability. The headline (if there was one, which is missing from the provided text) would likely further emphasize this positive framing. The use of terms like "imperative," "critical step," and "immense growth opportunities" strongly suggests a pro-FTA stance.
Language Bias
The language used is generally positive and persuasive towards the idea of a trilateral FTA. Words and phrases like "immense growth opportunities," "critical step," and "resilient regional growth pole" convey a strong sense of optimism and benefits. While factual data is provided, the selection and presentation of that data lean towards supporting the pro-FTA argument. More neutral language could include phrases such as "potential economic benefits," "significant challenges," and "potential drawbacks.
Bias by Omission
The article focuses heavily on the economic benefits of a trilateral free trade agreement between China, Japan, and South Korea, but omits discussion of potential downsides or challenges. While acknowledging some weaknesses in current RCEP cooperation, it doesn't delve into potential obstacles to reaching a trilateral FTA, such as political disagreements or differing regulatory standards. The potential negative impacts on any of the three countries are not discussed. Omission of counterarguments weakens the overall analysis.
False Dichotomy
The article presents a somewhat simplified view of the geopolitical landscape, framing the choice as primarily between strengthening regional cooperation through a trilateral FTA or facing continued challenges. It doesn't fully explore alternative strategies or approaches to addressing the headwinds facing regional cooperation. The article presents a false dichotomy by suggesting that an FTA is the only realistic or critical step to ensure regional supply chain security. There may be other solutions.
Sustainable Development Goals
The article highlights that a trilateral free trade agreement (FTA) among China, Japan, and South Korea could significantly boost the GDP of these countries by 0.4 to 1.1 percent. This growth would lead to increased economic opportunities and job creation, directly contributing to decent work and economic growth. The cooperation also focuses on supporting the industrialization of ASEAN nations, further promoting economic growth in the region. The potential increase in trade and investment resulting from the FTA would stimulate economic activity and create jobs across various sectors.