AFTA: Asian Free Trade Agreement APEC: Asian Pacific Economic Cooperation ASEAN: Alliance of Southeast Asian Nations DFI: Direct foreign investment EAEC: East Asian Economic Caucus
EC: European Community EMG: Epoch of Modern Growth FTA: Free Trade Agreement IC: Industrialized countries LDC: Less developed countries MFA: Multifiber Agreement MFN: Most Favored Nation NAFTA: North American Free Trade Agreement NET: Natural Economic Territories NIE: Newly Industrialized Economy OECD: Organization for Economic Cooperation and Development WTO: World Trade Organization
In the early 1990s, then Malaysian Prime Minister Mahathir Mohamad proposed the establishment of an East Asian Economic Caucus
, but the idea was shelved mainly due to lack of support from Japan, which was reluctant to go against the United States, a strong opponent of the proposal.
(40.) Glenn Hook, "The East Asian Economic Caucus
: A Case of Reactive Subregionalism?", in Subregianalism and World Order, edited by Glenn Hook and Ian Kearns (London: Macmillan, 1999): 223-45.
Mahathir renewed his call on East Asian countries to support his proposal to set up an East Asian Economic Caucus
However, so far the Japanese Government has been reluctant to form a new in-group and has reacted very cautiously to Malaysian Prime Minister Mahathir Mohamad's proposal to form an East Asian Economic Caucus
(EAEC) that would exclude the United States, Australia, and New Zealand.
In a joint press conference, Japanese Minister of International Trade and Industry Takashi Fukaya said the closer economic cooperation under the institutionalized framework of the ASEAN-plus-three nations is different from the East Asian Economic Caucus
(EAEC), which was proposed by Malaysian Prime Minister Mahathir Mohamad.
Mahathir also said Friday that Beijing has indicated support for formation of an East Asian Economic Caucus