Free trade agreements (FTAs) are proliferating in the Asia-Pacific region. For the first time, Korea is pursuing such accords as part of a strategy to restructure its economy and sustain the recovery from its 1997-98 economic crisis. Should it open talks with its largest trading partner, the United States? This study examines the economic and political benefits and challenges of pursuing bilateral FTA negotiations, the impact of a prospective pact on other trading partners, on the Asia-Pacific Economic Cooperation (APEC) forum, and on the multilateral trading system.
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1. Introduction 50.8KB
2. Bilateral Trade and Investment 153.2KB
3. Bilateral Trade Frictions 99.9KB
4. Potential Benefits of a Korea-US FTA 125.7KB
5. External Implications of a Korea-US FTA 85.1KB
6. Prospects for an FTA 55.1KB
7. Conclusions 36.8KB
8. Appendix A 30.6KB
9. Appendix B 174.6KB