ABSTRACT
This chapter discusses the over-dependence of the global south on markets in the global north. It explains the issues that the tide of protectionism in these countries and the potential effects on the dependent economies. The inconsistencies of the multilateral trading system and the overdependence on developed nations as export markets has led to an impasse in global trade. Protectionism in the west has reiterated the need for economic integration in Asia. The developed western nations are the biggest trading partners for most countries, especially in the developing world. Competitiveness in Global Value Chains (GVCs) is crucial to improving the performance of economies. “The Asia-Pacific region is renowned for its active intra-industry trade and considerable lengths of several GVCs run through the region. The Association of Southeast Asian Nations (ASEAN) economies play prominent roles in these GVCs”. Energising regional value chains and GVCs through the use of free trade agreements is a viable alternative for countries to explore.
