25 April 2019
The Impact of the Trump Administration’s Indo-Pacific Strategy on Regional Economic Governance
The Trump administration’s Indo-Pacific regional economic governance strategy addresses trade, investment, and infrastructure development. Its reception by regional states varies by issue area, with infrastructure and investment being positively received, and trade being negatively received. To alleviate policy clashes and lessen the “noodle bowl” effect of overlapping rules and regulations, this paper suggests that American and Asian governments should: (1) immediately pursue collaboration in the areas of investment and infrastructure; (2) advance investment cooperation via capacity training and investment treaty consolidation; (3) enhance infrastructure collaboration via the Better Utilization of Investments Leading to Development Act of 2018 (or BUILD Act of 2018), joint ventures, public-private partnerships, and capacity training; (4) push forward trade cooperation via formal and Track 2 (informal networks) dialogue to facilitate a policymaking process; and (5) encourage more inter-bloc dialogue.
About the author
Dr. Kaewkamol (Karen) Pitakdumrongkit is a deputy head and assistant professor at the Centre for Multilateralism Studies at S. Rajaratnam School of International Studies (RSIS) of Nanyang Technological University, Singapore. She completed her MA and PhD in Political Science at the University of California, Santa Barbara, U.S.A. Her research interests include international economic negotiation, Southeast Asian and East Asian economic governance (focusing on trade, money and finance), regional-global economic governance dynamics, ASEAN Economic Community, and cooperation between ASEAN and dialogue partners (ASEAN-Plus frameworks). She has published in outlets such as The Singapore Economic Review,The International Relations of the Asia-Pacific, The Pacific Review, Australian Outlook, Eurasia Review, and East Asia Forum.
The Trump administration’s Indo-Pacific regional economic governance strategy addresses trade, investment, and infrastructure development. Its reception by regional states varies by issue area, with infrastructure and investment being positively received, and trade being negatively received. To alleviate policy clashes and lessen the “noodle bowl” effect of overlapping rules and regulations, this paper suggests that American and Asian governments should: (1) immediately pursue collaboration in the areas of investment and infrastructure; (2) advance investment cooperation via capacity training and investment treaty consolidation; (3) enhance infrastructure collaboration via the Better Utilization of Investments Leading to Development Act of 2018 (or BUILD Act of 2018), joint ventures, public-private partnerships, and capacity training; (4) push forward trade cooperation via formal and Track 2 (informal networks) dialogue to facilitate a policymaking process; and (5) encourage more inter-bloc dialogue.
About the author
Dr. Kaewkamol (Karen) Pitakdumrongkit is a deputy head and assistant professor at the Centre for Multilateralism Studies at S. Rajaratnam School of International Studies (RSIS) of Nanyang Technological University, Singapore. She completed her MA and PhD in Political Science at the University of California, Santa Barbara, U.S.A. Her research interests include international economic negotiation, Southeast Asian and East Asian economic governance (focusing on trade, money and finance), regional-global economic governance dynamics, ASEAN Economic Community, and cooperation between ASEAN and dialogue partners (ASEAN-Plus frameworks). She has published in outlets such as The Singapore Economic Review,The International Relations of the Asia-Pacific, The Pacific Review, Australian Outlook, Eurasia Review, and East Asia Forum.
