ABSTRACT
This chapter analyzes evolving trade and investment patterns and relations among the US, South Korea, and China, with a special focus on the implications of rising Asian regionalism for the three countries. It describes the growth of Korea as a trading nation as well as its trading relationship with major partners in the last decade. The chapter also analyzes the bilateral relationship of Korea and its four largest trading partners, including the US, China, Japan, and Association of Southeast Asian Nations (ASEAN). It traces the growth of Asian regional trading patterns and describes the proposed bilateral, sub-regional and regional Asian free trade agreements (FTAs). In the trade arena, throughout the entire post-war period, East Asian nations largely eschewed bilateral or sub-regional FTAs. The chapter concludes with discussion and recommendations regarding optimal responses for the US and Korea to the new realities of Asian trade and regionalism.
