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Accession to TPP: Veto Power and “Opt-Out” Option

  • Shintaro HamanakaEmail author
Chapter
Part of the Economics, Law, and Institutions in Asia Pacific book series (ELIAP)

Abstract

One of the most important policy questions relating to the future impact of the Trans-Pacific Partnership on the global and regional economy is whether other countries in the region, particularly China, will join the partnership. While several commentators have made some observations regarding the future prospects of TPP expansion, little scholarly analysis has been conducted. To go beyond the speculation of a certain country’s accession to TPP, we first attempt to generalize the issue before moving on to a specific question. We conduct a comparative analysis of a large number of regional trade agreements (RTAs) for a better understanding of the parameters of RTAs that are critical for membership expansion. This general framework enables us to conduct a systematic examination of specific membership expansion cases, such as China’s membership in TPP. The paper also proposes a necessary “accession practice” that truly facilitates new members’ participation to TPP and RTAs in general.

Keywords

Trans-Pacific Partnership (TPP) Free Trade Area of the Asia-Pacific (FTAAP) Membership Accession Veto Opt-out 

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Copyright information

© Springer Nature Singapore Pte Ltd. 2017

Authors and Affiliations

  1. 1.IDE-JETROChibaJapan

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