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Asean-Korea Strategic Partnership In New Asian Regionalism, Rachel Liting Chang

Centre for Commercial Law in Asia

Over the past two decades, Asia has witnessed increasing regional trade integration with the rapid increase of free trade agreements (FTAs), constituting almost half of global trade pacts. Such a phenomenon has been said to give rise to “new Asian regionalism”, which is defined as a fundamental change in the multilateral trading system. It is a novel and normative integration process which focuses on ASEAN, and in particular the ASEAN Plus Six framework underlying Asia’s increasing economic power.