China, Japan, South Korea: A Trade Agreement on the Horizon

South Korea was scheduled to host a meeting Jan. 26 for government, business and academic leaders from Japan and China to launch research into the feasibility of a trilateral free trade agreement. Free trade agreements have become especially popular in East Asia, where export-oriented economies are seeking ways to shield themselves from dependency on consumption in the United States and Europe. China, South Korea and Japan will each try to squeeze the most political and economic benefits out of the others. A deal is possible, but not soon.