The issue of flee trade and employment has been aconcemed for many countries for a long time. It seems that there exists a tradeoffbetween them. This paper looks back at the theories from the classical economics and d...The issue of flee trade and employment has been aconcemed for many countries for a long time. It seems that there exists a tradeoffbetween them. This paper looks back at the theories from the classical economics and discusses the role of free trade in economics. It also discusses the relationship between free trade and a nation＇s wealth, and the problems of free trade we face today. The theory is not challenged in the paper; however, the multi-functional state engaged within the market for full employment is included. The statistics and data of ASEAN are utilized to explain and examine the theory. A few ways of government intervention are introduced and regulations that are detrimental to employment are also discussed.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
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
文摘The issue of flee trade and employment has been aconcemed for many countries for a long time. It seems that there exists a tradeoffbetween them. This paper looks back at the theories from the classical economics and discusses the role of free trade in economics. It also discusses the relationship between free trade and a nation＇s wealth, and the problems of free trade we face today. The theory is not challenged in the paper; however, the multi-functional state engaged within the market for full employment is included. The statistics and data of ASEAN are utilized to explain and examine the theory. A few ways of government intervention are introduced and regulations that are detrimental to employment are also discussed.
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.
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.
