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
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
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.
