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Published online by Cambridge University Press: 07 May 2025
Japan is revving up its drive toward free-trade agreements, or FTAs, with trading partners, largely fueled by an intensifying rivalry with China, a rapidly ascendant economic as well as military power.
As the World Trade Organization's trade talks falter, countries all over the world are pursuing their own separate FTAs with trading partners. Bilateral or regional integrations, especially in the form of FTAs, have popped up all over the world since the early 1990s. They include the North American Free Trade Agreement (NAFTA), the European Union (EU) and Mercosur, a Latin American customs union initially comprised of Argentina, Brazil, Paraguy and Uruguay. In East Asia, too, many countries are now competing for FTAs with trading partners in and outside the region.