Formal or Informal? The Dispute Settlement Mechanisms of China's Free Trade Agreements

The dispute settlement mechanism(DSM) has long been the focus of attention because of its significant role in the institutional construction of China's free trade agreements(FTAs). Thus, this paper is to make an analysis of the DSMs of China's established FTAs from a legal perspective of international regime study, which leads to the finding of a co-existence mode of formal and informal DSMs in China's FTAs. This paper also discusses the motivation and significance of such a choice.

China's Free Trade Agreements with ASEAN,Japan and Korea:A Comparative Analysis

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.

China＇s Anti-dumping Problems and Mitigation through Regional Trade Agreements

The present paper explores the opportunities for China＇s regional trade agreement （RTA） initiatives to mitigate its anti-dumping problems. The paper highlights the severity and discriminatory nature of China＇s anti-dumping problems. The high concentration of the share of anti-dumping actions taken by the top 4 and top 8 anti-dumping initiators is noted. Our finding of a weak effect of existing RTAs on mitigating China ＇s anti-dumping problems supports the argument that China could become more active in mitigating anti-dumping problems through RTA negotiations. An RTA can include a higher level of openness in exchange for an improvement in regional anti-dumping provisions. Case studies on RTAs involving the EU, the USA and India offer some precedents for offering inducements and modifying regional anti-dumping provisions. The approaches for China may lie in obtaining market economy status from intensive anti-dumping initiators at RTA levels and also altering regional anti-dumping provisions that could be put in place in exchange for some potential concessions.

The Dos and Don’ts of the African Continental Free Trade Agreement Pose the Ghana’s Maritime Industry Vis-A-Vis Its National Industrialization Drive

The direct and indirect immensely contributions of free trade blocs/single market integration to the steadilygrowth of developed emergence and least developed economies are unmeasurable. The increasing insatiable demand and approval of the free trade model by almost all of the six continents to enhance their economic development has proved that its benefits have indeed outweighed the challenges. Therefore, this research just like the other internationally recognised literatures on this market system, intends to analysis the impacts of the important/dos, don’ts, opportunities, prospects and other important factors of the recent AU member States unanimously endorsement of AfFCTA’s implementation, will have on Ghana’s maritime industry. The possible quantitative findings in this study do uphold its immensely potential benefits impact on the African and Ghana’s maritime industry development and at the same time, indicate an irresistible gap pertaining to the downward progress of its implementation within the sector. These findings have apparently revealed that loss of revenue from scrapping off customs tariffs carries the highest percentage of all the challenges facing AfCFTA’s implementation and recommend that there must be an effective investment-oriented measures-FDI in harnessing the opportunities and prospects embedded in AfCFTA so as to accelerate Ghana’s maritime industry development in its implementation process.

Impact of Sino-US Trade Agreement on Chinese Legal System about Intellectual Property Rights

On January 15,2020,the representatives of Sino-US trade signed Phase I Economic and Trade Agreement Between the Government of the People’s Republic of China and the Government of the United States of America in Washington,which symbolizes the temporary settlement of two-year Sino-US trade war in relatively peaceful method and lays a good foundation in mutual trust for subsequent Phase II negotiation.This Agreement includes eight chapters involving Sino-US economic and trade and is called the model of the international bilateral agreement by virtue of its wide field and rigorous details.The impact of clauses about intellectual property rights on China’s current legal system and the future revision direction of China’s relevant laws for conformance with the Agreement will be discussed emphatically so that the author can rapidly understand the impact and significance of Sino-US trade agreement to Chinese law.

GVC Evolutions: New Trends and China’s Policy Response

In today’s digital economy,new technologies such as artificial intelligence,big data,and the internet of things(IoT)have stronger influence on global value chains(GVCs).As GVCs overcome physical boundaries,the space economy is becoming a new agent of growth.Developed countries dominate the rules of regional trade agreements,leading to endogenous restructuring in GVCs.In multi-tiered GVCs,certain countries garner a large portion of value-added.With the new trend in GVCs in mind,China should consolidate its strengths in the digital economy as new growth agents replace old ones,gain a favorable position in the space economy with the Chinese space station,create a global trading network through the Belt and Road Initiative(BRI),and acquire more value-added by capitalizing on the sophisticated global value chain.

Exploring the Influencing Factors of FDI in China’s Internal Regions:Evidence From Taiwan

This study aims to explore the influencing factors of the location determinants of Taiwan’s foreign direct investments(FDIs)in China’s internal regions.This study proposes three models to examine the influencing factors of Taiwan’s FDIs in China by combining the location advantages of the host country,the economy and politics of the home country,and network relationship in bilateral and regional trade agreements:First,analyze the location distribution of Taiwan’s FDIs in China’s six regions;Second,analyze the location determinants of Taiwan’s main sectors’(manufacturing and service)FDIs in China;Third,analyze the location determinants of Taiwan’s high-tech industries’FDIs in China’s six regions.The estimated results show that bilateral trade agreement seems to have positive effects on Taiwan’s FDIs in China,while regional trade agreement seems to have negative effects.In Taiwan’s political form,the ruling party with characteristics of political defense against China seems to have negative effects on most of Taiwan’s industries(except manufacturing)and the overall FDIs in China.In terms of China’s relevant economic factors,the main determinants of Taiwan’s high-tech industries’FDIs in the major regions of Eastern and South Central of China are infrastructure and high-level human capital resources.China’s GDP growth and increase in unit labor cost have negative effects on FDIs in most regions of China.This implies that the advantage of low wages in China Factory may gradually decline.This study provides some references and implications for future research and policy makers for the analysis of relevant influencing factors of FDI.

Transatlantic Trade and Investment Partnership and Trans-Pacific Partnership： Policy Options of China

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.

Reforming the World Trade Organization: Practitioner Perspectives from China, the EU, and the US

China,the European Union,and the United States are the world s largest traders.They have a big stake in a multilateral system of rules to manage the inevitable frictions among interdependent economies organized on different principles.This paper discusses elements of the WTO reform agenda through the lens of positions taken by these three WTO members,identifying the extent of alignment on key subjects,including transparency,dispute settlement,and plurilateral negotiations.We draw on findings of a recent research project on WTO reform and use responses to an expert survey to assess the prospects for actions that all three trade powers might support.Our premise is that reforming WTO is a necessary condition for the organization to be a more salient forum for the three large economies to address trade tensions,and that agreement among these three trade powers^in turn,is necessary to resolve the problems of the WTO.

Short-Term and Long-Term Margins of International Trade： Evidence from the Canada-Chile Free Trade Agreement

We investigate the impact of the Canada-Chile Free Trade Agreement （CCFTA） on Canadian exports to Chile, particularly the dynamic effects of the agree- ment on extensive and intensive margins of trade. Consistent with the literature, we find that the extensive margin effects occurred later than the intensive margin effects and became more prominent in the long-term. Surprisingly, the intensive margin ef- fects died off in the long-term. A theoretical model is constructed to show that our results can arise in a standard setting of intra-industry trade.

US Presidential Election 2008:Policy Implications for US-China Trade and Investment

The next US president will be elected in November 2008. Since the relative stabilization of war in Iraq, the economy has become the national priority of the 2008 US election. In their campaign efforts, the Democrats have enjoyed greater momentum than the Republicans, in terms of polls, fund-raising and corporate support. After the Bush era, the next president will seek to restore America＇s leadership and to engage in multilateralism. Since the 1990s, China has been the most rapidly-growing US export destination. In terms of US-Shinese trade and investment, the next president, ira Democrat, will, among other issues, review trade agreements and has pledged to co-sponsor legislation that would allow US companies to seek anti-dumping duties on Chinese imports based on the perceived undervaluation of the Chinese currency. If a Republican, the next president will support global integration and oppose protectionist measures. The Democratic Congress is likely to oppose Republican policies in general and free trade policies in particular. Both scenarios imply increasing pressure on US-Chinese trade and investment relationships. Because these two nations now account for almost half of global growth, the state of the futureUS-Chinese bilateral relationship has worldwide implications.

Why Chinese Exports Face So Many Trade Remedy Actions： An Empirical Study Based on Multi-country and Multi-industry Data

This paper offers a comprehensive analysis of the reasons for the large number of trade remedy actions taken against China. Using a multi-country and multi-industry dataset, the present paper shows that the macroeconomic situation of China＇s partners has a great influence on the probability of trade frictions arising with China. Moreover, the more powerful the industry is, the more likely it is to take trade remedy actions against China. The empirical results reveal that China has been hurt under the operating mechanism of the WTO, and the number of free trade agreements is negatively related to the initiation and approval of trade remedy actions. Basically, the determinants for countervailing and double remedy measures are identical, while they are different from determinants of antidumping measures. Accordingly, strengthening communication with trade partners will alleviate friction between China and its trade partners. Meanwhile, making use of foreign lobbies power, actively integrating into the international trading system and participating in regional trade agreements are effective ways for China to deal with the ＂new normal＂ of trade frictions.

An assessment of China-Japan-Korea Free Trade Agreement＇s economic and environmental impacts on China

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.

Would a North-South Free Trade Agreement Hurt Unskilled Labor in the North？

I present a simple model to examine the impact of international outsourcing on the welfare of skilled and unskilled labor. In this model, specialized business services are to facilitate manufacturing production, creating additional welfare gains in the presence of positive production externalities. Policies that favor the business service sector contribute to the development of a larger bundle of specialized business services, generating more welfare gains to not only skilled but also unskilled labor. Thus, a country＇s unskilled labor is not necessarily worse off with open trade if the country is prosperous in business service provisions.

On international trade in educational services:an interpretation of the regulations and China’s WTO commitments

The General Agreement on Trade in Services(GATS)of the World Trade Organization(WTO)covers educational trade services.Hence,all the regulations of the GATS have to be followed in the international trade of educational services.Having acceded to the WTO,China is starting to fulfill the rights and obligations as a member by completely respecting international trade,services and intellectual property laws.At the same time,it is also starting to fulfill some of the commitments it made in the GATS,such as expanding activities on trade in educational services.Comprehending the fundamental regulations and China’s commitments is significant towards promoting China’s international trade in educational services.

The Impact of High-standard Free Trade Areas on the Diversification of China's Export Products: Expanding Market or Intensifying Competition?

In the context of China's efforts to establish a global network of free trade areas and diversify its export products, this study explores the impact of trade agreement depth on China's export diversification. Building upon a trade model with multiproduct firms, we discover that the effect of trade agreement depth on export diversification is multifaceted, depending on the relative magnitude of the “market expansion effect” and the “competition intensification effect.” Through empirical analysis of China's exports to 132 countries (or regions) from 2000 to 2015, we find that the deepening of trade agreements affected China's export diversification negatively. This negative correlation was predominantly due to the similarity in comparative advantages between China and its trade partners, leading to the “competition intensification effect” overshadowing the “market expansion effect.” We also note that “natural” agreements, when deepened, were more likely to affect China's export diversification adversely than their “non-natural” counterparts. Moreover, as export diversification increased, the marginal impact of deepening trade agreements exhibited an inverted U-shaped trajectory.

Emergence of ASEAN,China and India and the Regional Architecture

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.

An Evaluation of the Regional Comprehensive Economic Partnership Agreement:Market Access and Trading Rules

The Regional Comprehensive Economic Partnership(RCEP)agreement was signed on November15,2020.This marks the formal conclusion of the world's largest free tradeagreement in terms of population and economic scale.The RCEPagreement covers new liberalization commitments in goods,services,investment,and movement of natural persons,and addresses some emerging behind-the-border trade issues,to forge more transparent,open,and inclusive trade rules.Its aim is to build a comprehensive,modern,inclusive,and high-quality free trade agreement.This paper summarizes the framework and highlights of the RCEP agreement,measures the extent of tariff reduction from various perspectives,makes a quantitative assessment of the level of service trade liberalization of the member states adopting positive list commitments,and makes an in-depth analysis of trade rules and provisions in the RCEP agreement.Furthermore,this paper also makes a comprehensive comparison of main provisions among the Comprehensive and Progressive Agreement for Trans-Pacific Partnership,RCEP,and US-Mexico-Canada Agreement.The paper concludes with policy recommendations for Chinatopromote the implementationof the RCEPagreement.

China-Gulf Economic Relationship under the“Belt and Road”Initiative

In recent years,the trade volume between China and six GCC countries has risen substantially,and with these commercial relations,China has become a major economic partner for the GCC.This article analyzes the economics of China-GCC economic interdependence.It begins with an analysis of the features of the political economic relationship,focusing on energy,trade,investment,and infrastructure and construction projects.It then discusses the process of formalizing these relationships through the ongoing negotiation of the China-GCC Free Trade Agreement.It then examines how this economic relationship can intensify through GCC cooperation in China’s“Belt and Road”Initiative.