Bilateralism, Multilateralism, Or Regionalism? Japan's Trade Forum Choices‪.‬

The Japanese government today is actively and strategically choosing among various institutional thrums to deal with its trade partners, namely bilateral venues, multilateral settings, and even preferential regional arrangements. This ongoing high-profile institutional selection is somewhat unprecedented for Japan, and demands a review of the historical and analytical reasons that drive decisionmakers to select one forum over another. Overall, the Japanese case suggests that the aggregate trade forum choices are influenced both by the desire to institutionalize mechanisms for stabilizing a range of expectations and by the necessity of guaranteeing market access and protection of investment in the fastest time possible. KEYWORDS: Trade policy, bilateralism, multilateralism, regionalism, preferentialism, General Agreement on Tariffs and Trade (GATT), World Trade Organization (WTO), free trade agreement (FTA), forum choices/forum shopping, international institutions