The benefits of an FTA for Asia

Next week will see Japan and the Republic of Korea, two of China's important neighbors, going to the polls, which could add to the uncertainty in the East Asia region. Japan's relations with China and the ROK are at the lowest in years because of the islands disputes it has with the two countries.

But frictions will do no country any good. This is something the new leaderships in the three countries, especially Japan, need to understand. They have to realize that seizing the opportunity to strengthen their economic cooperation is the most potent way of thawing relations.

The first round of China-Japan-ROK Free Trade Agreement negotiations, scheduled for early next year, will provide an excellent opportunity to the three countries to spur economic growth at a time when Japan and the ROK face economic downturn and China's economy is bottoming out.