Guest blogger Roy Kamphausen is the director and vice president for political and security affairs of the Office of the National Bureau of Asian Research (NBR). 

Last night NBR gathered top Asia advisers from the presidential campaigns at the National Press Club in Washington for Asia Policy Debate 2008. The John McCain/Sarah Palin camp was represented by Michael J. Green and Daniel A. Blumenthal, while the Barack Obama/Joe Biden ticket was represented by Frank Jannuzi and Ambassador Robert S. Gelbard. The two-hour debate covered many issues, including a pending trade pact between the United States and South Korea. 

One issue that came up repeatedly was how the United States can increase its level of engagement with Asia both bilaterally and regionally.  The two campaigns agreed that bilateral initiatives such as the free-trade pact between the United States and South Korea, also known as the KORUS FTA, were an important component of U.S. engagement in the region.  The two campaigns differ on whether the agreement should be approved in its current form or renegotiated and resubmitted to Congress at some point in the future. 

The McCain/Palin side argued KORUS is the United States’ most important agreement since the North American Free Trade Agreement in terms of opening new markets for U.S. exports, but that it is equally important as a demonstration of American commitment to deepening its relationship with a key ally and to being a leader in Asia at a time when China and others are promoting their own initiatives to foster regional integration.  Reopening the KORUS FTA to new negotiations, they argued, would undermine the Lee Myung-Bak administration and undercut U.S. credibility in the region.

The Obama/Biden side emphasized that KORUS must be considered very carefully to be sure it benefits both the United States and Korea, and that, in addition, trade-adjustment assistance should be expanded to help American workers who lose their jobs as a result of trade. 

What do you think of the KORUS FTA? Should the agreement be ratified as soon as possible in its current form, reworked or reconsidered? What is your opinion of free-trade agreements generally? Please post your comments about these questions or other aspects of the KORUS FTA below.