JOURNAL OF ECONOMICS AND DEVELOPMENT (JED)
ISSN: 1859-0020, eISSN: 2632-5330
Call for Papers
“Impact and Implications of Trans-Pacific Partnership [TPP] and Regional Comprehensive Economic Partnership [RCEP] on Global Trade”
When the General Agreement on Tariffs and Trade [GATT] of 1947 was transformed into World Trade Organization [WTO]; 1995, it was believed and committed by the signatories that the purpose of creating WTO was to promote ‘multilateral trading system’. As a result, the concept of ‘regionalism’ was kept at the low ebb. As the time passing out, it was realized by the member nations of WTO that MTS had failed and accordingly the concept of “New Regionalism] emerged out. The member countries started creating trading blocks to maximize the benefits of trade. The main contributory factor responsible for the emergence of ‘New Regionalism” was the failure of Doha Development Round. This was the turning point in the annals of world trade in general and WTO in particular.
The concept of regional integration has been gaining momentum with faster pace. This is because the dynamics of the multilateral trading system have been fizzling out. Accordingly, regional trade agreements [New Regionalism] are multiplying at an unprecedented rate. There is a saying that many national markets alone are simply too small, for trading goods, attracting investment, stimulating innovation and keeping themselves competitive. Beyond trade and market integration, there are many other contributory reasons to bundle forces at the regional level and then integrate themselves. In terms of Political Economy, it makes the sense to strengthen the relations with your neighbouring countries as this interdependence reduces the incentives for conflict which is on the rise.
In the history of regional integration, there are two mega regional trade deals, having far reaching effects, impacts, consequences and implications to world trade in general and multilateral trading system and World Trade Organization in particular. First, mega trade deal was initiated by the United State of America in the name of ‘Trans-Pacific Partnership” with 11 countries, as back as 2009. On the other side of it, 15 countries of East and South East Asia decided to form a trading block namely-RCEP. Although, the idea of RCEP was floated by China, it is the ASEAN-led Regional Comprehensive Economic Partnership (RCEP) and the other is the U.S.-led Trans-Pacific Partnership (TPP).
The TPP and the RCEP are covering large economies in the Asia-Pacific region, and both trading block may have a considerable influence on the regional economies of Asia and Pacific. The TPP has significant share in the global economy [13 per cent GDP and 20 per cent of global trade and 500 million of global population]. Similarly, RCEP has noticeable share in global GDP [30 per cent]; 1/3rd of the global population and imports [26 per cent]; exports [29 per cent] of the world. RCEP is expected to command a status similar to that of the TPP in terms of the global economy and global trade. Keeping in mind, the significance of both the mega regional trading deals, there are many questions that required logical answers. This is why, there is an immediate need to carry out a special issue to transform myth into reality.
Why Special Issue on TPP and RCEP?
Every academia’s; trade economists and policy maker are keen to know the impact of both CPTPP and RECP on the global economy in general and world trade and the role of WTO in particular. The special issue will also measure the economic impact of both the mega initiatives along with the economic feasibility. The special issue may go further to investigate the implications to member nations in particular and non-members in general of TPP and RCEP. Academicians; trade analysts; policy makers and trade organizations will be invited across the world to measure economic gains that could be arising out for the member countries in particular and global economy in general.
Tentative topic to be covered:
- Multilateral Trading System and its failure;
- Why the need for TPP and RCEP felt?
- Development of concepts of Old Regionalism and New Regionalism; and Open Regionalism;
- Evolution of TPP and RCEP;
- Conceptual explanation of the emergence of TPP and RCEP;
- Emergence of New and Open Regionalism in Asia and Pacific;
- Measurement of impact of TPP and RCEP on global trade;
- Role of WTO after emergence of TPP and RCEP;
- Which way forward-TPP or RCEP;
Time frame for the Issue:
- Last date of submission of papers: October 30, 2022
- Publication schedule: January 2023.
The contributors/authors may submit their respective research papers at www.emeraldgrouppublishing.com/journal/jed
. The papers should be between 6000 and 8000 words. A guide for authors and other relevant information for submission of manuscripts is available on the Author guidelines page
They should also submit their papers for follow up/record to the Guest Editor, Prof. Dr. Badar Alam Iqbal; Adjunct Professor; Monarch Business School; Switzerland; at any one of the following Email IDs: