Although a latecomer, economically important Asia has emerged at the forefront of global free trade agreement (FTA) activity. This has sparked concerns about the negative effects of Asian FTAs, including the "noodle bowl" problem. Amid slow progress in the World Trade Organization's (WTO) Doha...

Using a global general equilibrium trade model, this paper assesses the long-term implications of global rebalancing for Asian economies and explores the benefits of China-Japan-United States (US) integration. The analysis suggests that consumption evaporation, a growth slowdown in the US, and...