The role of China in East Asia 's recovery from the recent global finaneial and economic crisis highlights China 's position as an engine of growth for this region. From the viewpoint of China, there are many potent...The role of China in East Asia 's recovery from the recent global finaneial and economic crisis highlights China 's position as an engine of growth for this region. From the viewpoint of China, there are many potential gains from entering into free trade agreements (FTAs) with its neighbors, who collectively form a large and fast-growing market. In this paper, we qualitatively and quantitatively assess the four main permutations of China's FTAs with East Asian major economies: China-ASEAN, China-Japan, China-Korea and ASEAN+ 3. We compare the effects of these FTAs on China "s output and welfare. Our comparative analysis shows that China will gain from all three bilateral FTAs, while gaining the most from the ASEAN+ 3. Because forming a region-wide FTA, such as the ASEAN+ 3, is expected to be gradual and difficult, China shouM continue to engage in bilateral FTAs as a mediumterm and alternative strategy. However, in the long term, China should pursue a regionwide FTA.展开更多
The current global financial and economic crisis is giving new life to initiatives that promote closer economic integration among East Asian countries. A significant example is the ASEAN- China Free Trade Area (.4 C...The current global financial and economic crisis is giving new life to initiatives that promote closer economic integration among East Asian countries. A significant example is the ASEAN- China Free Trade Area (.4 CFTA), which is set to come into effect around 2010..4CFTA aims to boost trade between two economies that are partners as well as competitors: ASEAN and China. In the present paper, we use insights from customs union theory in a qualitative analysis considering whether,4CFTA would benefit both sides. We also apply a computable general equilibrium model to perform a quantitative analysis of the same issue. Both our qualitative and quantitative analyses provide grounds for guarded optimism regarding A CFTA 's prospects as a vehicle for strengthening the economic partnership between ASEAN and China.展开更多
Recently, China, Japan, and the Republic of Korea (Korea) are conducting a government-commis- sioned feasibility study on the Free Trade Agreement among the three countries (CJKFTA) to form a regional free trade z...Recently, China, Japan, and the Republic of Korea (Korea) are conducting a government-commis- sioned feasibility study on the Free Trade Agreement among the three countries (CJKFTA) to form a regional free trade zone in East Asia. Considering that freer trade can cause unexpected impact on domestic environment, there is a need to evaluate the environmental impact of such a trade policy. This move should be made to help negotiators understand and pay more attention to environ- mental issues during CJKFTA negotiations, and to help lobby with the government to carry out appropriate policy instruments for adaptation or mitigation. Following the Chain Reaction Assessment Method that integrates and links the elements of trade, production, and environment, the present research aims to quantitatively assess CJKFTA's possible impact on China's environment. This is done by estimating the variations of China's major conventional pollutants and greenhouse gases (GHGs) emission in two policy scenarios to represent CJKFTA's scale and composition effects on China's environment. Estimating the variations is based on a static Computable General Equilibrium model, working with Global Trade Analysis Project (GTAP) 7 database and China's energy- environment statistics. Based on these assessments, CJKFTA is predicted to lead to notable environmental impact, including increased emissions of agricultural total nitrogen, agricultural total phosphorus, chemical oxygen demand, and GHGs. On the other hand, decreased emissions of industrial SO2 and dust are also expected to happen. Suitable policies need to be made to combat negative effects and amplify positive ones, while aiming at a more sustainable regional freer trade system.展开更多
The rise of ASEAN, China and India as economic powers is of great significance to regional as well as global economic development. Although their ascendance in the global economy will continue, they will have to go to...The rise of ASEAN, China and India as economic powers is of great significance to regional as well as global economic development. Although their ascendance in the global economy will continue, they will have to go to great pains to meet the new challenges. Considering ASEAN, China and India as a group, due to their differences in economic development levels, economic structures and policy concern priorities, it is difficult for them to formulate a unifiedposition on a range of global issues. ASEAN, China and India must foster an open, transparent and efficient regional as well as global environment. They need to cooperate in designing the architecture to ensure regional as well as global freer trade and investmen, and more stable finance, and to play more active roles in future global governance and rulemaking.展开更多
As a result of deadlocked multilateral trade negotiations, many countries have embarked on the establishment of bilateral and regional trade agreements. Using the Global Trade Analysis Project database and a computabl...As a result of deadlocked multilateral trade negotiations, many countries have embarked on the establishment of bilateral and regional trade agreements. Using the Global Trade Analysis Project database and a computable general equilibrium model, our paper focuses on the impacts of the Transatlantic Trade and Investment Partnership (TTIP) and the Trans- Pacific Partnership (TPP) on the Chinese economy under three scenarios. The results suggest that when only the TTIP is realized, Chinese economic variables are negatively affected. When both the TTIP and the TPP are realized and China is excluded, the combined damage to the Chinese economy is higher than the damage with the TTIP alone. However, the inclusion of China in the TPP has a positively effect on economic variables in China. This indicates that the impacts of China 's participation in the TPP compensate for the negative impacts of the TTIP. Therefore, China should consider being part of the TPP to offset the negative impacts of the TTIP.展开更多
Negotiations for the Trans-Pacific Partnership (TPP) Agreement have concluded, but the TPP still must be ratified by each of the 12 member countries. China is the world's second largest economy and yet it has not j...Negotiations for the Trans-Pacific Partnership (TPP) Agreement have concluded, but the TPP still must be ratified by each of the 12 member countries. China is the world's second largest economy and yet it has not joined the TPP. This has provoked much debate in China as to the best strategic approach to the TPP This paper analyzes China's possible strategy for the TPP agreement. We make three key points. First, the security of market access should be China's main concern in any free-trade agreement negotiations, regrettably, it is not included in TPP. The second point is that the present TPP agreement is somewhat diminished from its ambitious original claims. We suggest four strategies for China. The first is to promote the development of China's remaining regional and bilateral free trade agreements (FTAs). The second is to negotiate a bilateral FTA with the United States. The third is to promote deep domestic reforms via enlarged TPP coverage. The last is negotiating entrance to the entering do not worsen. TPP as soon as possible so that terms of展开更多
基金Innwon Park's research is supported by a Korea University GrantSoonchan Park's research is supported by the National Research Foundation of Korea Grant funded by the Korean Government(NRF-2010-32A-B00045)
文摘The role of China in East Asia 's recovery from the recent global finaneial and economic crisis highlights China 's position as an engine of growth for this region. From the viewpoint of China, there are many potential gains from entering into free trade agreements (FTAs) with its neighbors, who collectively form a large and fast-growing market. In this paper, we qualitatively and quantitatively assess the four main permutations of China's FTAs with East Asian major economies: China-ASEAN, China-Japan, China-Korea and ASEAN+ 3. We compare the effects of these FTAs on China "s output and welfare. Our comparative analysis shows that China will gain from all three bilateral FTAs, while gaining the most from the ASEAN+ 3. Because forming a region-wide FTA, such as the ASEAN+ 3, is expected to be gradual and difficult, China shouM continue to engage in bilateral FTAs as a mediumterm and alternative strategy. However, in the long term, China should pursue a regionwide FTA.
文摘The current global financial and economic crisis is giving new life to initiatives that promote closer economic integration among East Asian countries. A significant example is the ASEAN- China Free Trade Area (.4 CFTA), which is set to come into effect around 2010..4CFTA aims to boost trade between two economies that are partners as well as competitors: ASEAN and China. In the present paper, we use insights from customs union theory in a qualitative analysis considering whether,4CFTA would benefit both sides. We also apply a computable general equilibrium model to perform a quantitative analysis of the same issue. Both our qualitative and quantitative analyses provide grounds for guarded optimism regarding A CFTA 's prospects as a vehicle for strengthening the economic partnership between ASEAN and China.
文摘Recently, China, Japan, and the Republic of Korea (Korea) are conducting a government-commis- sioned feasibility study on the Free Trade Agreement among the three countries (CJKFTA) to form a regional free trade zone in East Asia. Considering that freer trade can cause unexpected impact on domestic environment, there is a need to evaluate the environmental impact of such a trade policy. This move should be made to help negotiators understand and pay more attention to environ- mental issues during CJKFTA negotiations, and to help lobby with the government to carry out appropriate policy instruments for adaptation or mitigation. Following the Chain Reaction Assessment Method that integrates and links the elements of trade, production, and environment, the present research aims to quantitatively assess CJKFTA's possible impact on China's environment. This is done by estimating the variations of China's major conventional pollutants and greenhouse gases (GHGs) emission in two policy scenarios to represent CJKFTA's scale and composition effects on China's environment. Estimating the variations is based on a static Computable General Equilibrium model, working with Global Trade Analysis Project (GTAP) 7 database and China's energy- environment statistics. Based on these assessments, CJKFTA is predicted to lead to notable environmental impact, including increased emissions of agricultural total nitrogen, agricultural total phosphorus, chemical oxygen demand, and GHGs. On the other hand, decreased emissions of industrial SO2 and dust are also expected to happen. Suitable policies need to be made to combat negative effects and amplify positive ones, while aiming at a more sustainable regional freer trade system.
文摘The rise of ASEAN, China and India as economic powers is of great significance to regional as well as global economic development. Although their ascendance in the global economy will continue, they will have to go to great pains to meet the new challenges. Considering ASEAN, China and India as a group, due to their differences in economic development levels, economic structures and policy concern priorities, it is difficult for them to formulate a unifiedposition on a range of global issues. ASEAN, China and India must foster an open, transparent and efficient regional as well as global environment. They need to cooperate in designing the architecture to ensure regional as well as global freer trade and investmen, and more stable finance, and to play more active roles in future global governance and rulemaking.
文摘As a result of deadlocked multilateral trade negotiations, many countries have embarked on the establishment of bilateral and regional trade agreements. Using the Global Trade Analysis Project database and a computable general equilibrium model, our paper focuses on the impacts of the Transatlantic Trade and Investment Partnership (TTIP) and the Trans- Pacific Partnership (TPP) on the Chinese economy under three scenarios. The results suggest that when only the TTIP is realized, Chinese economic variables are negatively affected. When both the TTIP and the TPP are realized and China is excluded, the combined damage to the Chinese economy is higher than the damage with the TTIP alone. However, the inclusion of China in the TPP has a positively effect on economic variables in China. This indicates that the impacts of China 's participation in the TPP compensate for the negative impacts of the TTIP. Therefore, China should consider being part of the TPP to offset the negative impacts of the TTIP.
文摘Negotiations for the Trans-Pacific Partnership (TPP) Agreement have concluded, but the TPP still must be ratified by each of the 12 member countries. China is the world's second largest economy and yet it has not joined the TPP. This has provoked much debate in China as to the best strategic approach to the TPP This paper analyzes China's possible strategy for the TPP agreement. We make three key points. First, the security of market access should be China's main concern in any free-trade agreement negotiations, regrettably, it is not included in TPP. The second point is that the present TPP agreement is somewhat diminished from its ambitious original claims. We suggest four strategies for China. The first is to promote the development of China's remaining regional and bilateral free trade agreements (FTAs). The second is to negotiate a bilateral FTA with the United States. The third is to promote deep domestic reforms via enlarged TPP coverage. The last is negotiating entrance to the entering do not worsen. TPP as soon as possible so that terms of