EAEC initiative lacks clear future<\/p>\n
By Takehiko Kajita<\/p>\n
TOKYO (Kyodo): Despite nearly five years of warming up
\nexercises, the East Asia Economic Caucus (EAEC) proposed by
\nMalaysian Prime Minister Mahathir Mohamad shows no sign of
\ngetting up and running any time soon.<\/p>\n
Japan, fearful of antagonizing the United States, which
\nopposes the EAEC, has been cautious about the project, refusing
\nto clearly state whether or not it will join the planned regional
\nbody.<\/p>\n
All Tokyo is saying is it will continue to consider the
\nproposal. But one government official said, \"I don't think
\nanyone at any government ministry or agency is studying the
\nmatter.\"<\/p>\n
\"We think the EAEC is good for Japan,\" Malaysian Ambassador to
\nJapan H.M. Khatib said in an interview. \"But Japan does not
\nthink so.\"<\/p>\n
Mahathir first floated the idea of establishing the EAEC in
\nDecember 1990. The Association of Southeast Asian Nations
\n(ASEAN) made it a joint proposal in October 1991.<\/p>\n
The U.S. has vehemently opposed the initiative as carrying the
\ndanger of forming a trade bloc that would exclude the U.S. and
\nother Pacific Rim nations outside East Asia.<\/p>\n
The EAEC would include China, Japan and South Korea, as well
\nas the seven ASEAN members of Brunei, Indonesia, Malaysia, the
\nPhilippines, Singapore, Thailand and Vietnam.<\/p>\n
\"America is not Asia. The caucus is East Asia, so naturally
\ndoes not include America,\" Khatib said.<\/p>\n
Kuala Lumpur is also critical of Tokyo's foot-dragging on
\nwhether to join the proposed body, prompting Mahathir to threaten
\nuntil only recently to boycott the informal summit of the Asia-
\nPacific Economic Cooperation (APEC) forum in Osaka on Nov. 19.<\/p>\n
Malaysia's cabinet decided last week that Mahathir will attend
\nthe APEC gathering, after Japanese Prime Minister Tomiichi
\nMurayama had sent a special emissary to Kuala Lumpur to urge the
\nMalaysian leader to come to Osaka.<\/p>\n
Rafidah Aziz, Malaysia's international trade and industry
\nminister, has said Mahathir might broach the EAEC issue at the
\nAPEC summit, a move that would severely test Murayama's
\nchairmanship at the parley.<\/p>\n
In addition to the U.S. opposition and the Japanese
\nreluctance, ASEAN is not necessarily monolithic, either. At
\ntheir annual gathering in July, ASEAN foreign ministers
\nreaffirmed their commitment to an early launching of the EAEC but
\ncame up with no specifics.<\/p>\n
\"ASEAN cannot let the project die but does not feel like
\nmaking a fuss about it, either,\" foreign policy analyst Takaaki
\nSasaki said.<\/p>\n
He said ASEAN wants to retain the program in case the North
\nAmerican Free Trade Agreement (NAFTA) and the European Union make
\nmoves toward the formation of inward-looking trade alliances.<\/p>\n
Jiro Okamoto, an analyst at the Institute of Developing
\nEconomies, a Japanese government-affiliated think tank, said the
\nEAEC initiative will not take shape in the immediate future.<\/p>\n
\"The scheme cropped up as a countermeasure against a U.S.
\noffensive. The momentum for it has been weakened, because their
\nrival is quiet now,\" Okamoto said of the U.S. toning down of what
\nhe called its aggressive approach toward East Asia of selective
\nexpansion of the North American free trade zone into the region.<\/p>\n
Instead, the U.S. has been eager to pursue its economic
\ninterests within the framework of the 18-member APEC, which
\ndecided last year to set deadlines for free trade in the region
\n-- 2010 for industrialized economies and 2020 for less-developed
\neconomies.<\/p>\n
Masaru Yoshitomi, vice chairman of the Research Institute of
\nthe Long-Term Credit Bank of Japan, realizes the need for a \"non-
\nNAFTA\" grouping under the broad rubric of APEC, through which
\nJapan could negotiate sticky trade issues more on a multilateral
\nbasis.<\/p>\n
Many Japanese pundits say the EAEC could start with Japan as a
\nmember if Australia and New Zealand were also invited to join.<\/p>\n
\"Japan appears to have unofficially decided to call for the
\ninclusion of Australia and New Zealand\" as a prerequisite for its
\nparticipation in the proposed caucus, said Yuichiro Nagatomi,
\ndirector general of the Quick Research Institute, a private think
\ntank.<\/p>\n
Tokyo took a step in the right direction when it signaled its
\nrefusal to attend the aborted economic ministerial meeting in
\nApril with ASEAN, China and South Korea, unless Australia and New
\nZealand took part as well, he said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/eaec-initiative-lacks-clear-future-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}