The PRC's Free Trade Agreements with ASEAN, Japan, and the Republic of Korea: A Comparative Analysis
Estrada, Gemma; Park, Donghyun; Park, Innwon; Park, Soonchan | January 2012
Abstract
"The role of the People’s Republic of China (PRC) in East Asia’s recovery from the recent global financial and economic crisis highlighted the PRC’s growing role as an engine of growth for the region. From the viewpoint of the PRC, 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 the PRC’s FTAs with the region’s major economies: PRC– ASEAN, PRC–Japan, PRC–Republic of Korea, and ASEAN+3. We compare the effects of the FTAs on the PRC’s output and welfare. Our comparative analysis shows that the PRC would gain from all three bilateral FTAs, while gaining the most from a larger region-wide FTA such as ASEAN+3. "
Citation
Estrada, Gemma; Park, Donghyun; Park, Innwon; Park, Soonchan. 2012. The PRC's Free Trade Agreements with ASEAN, Japan, and the Republic of Korea: A Comparative Analysis. © Asian Development Bank. http://hdl.handle.net/11540/1589.Keywords
Trade Facilitation
Trade
Economic integration
Regional Economic Integration
Free Trade
Trade Agreements
Trade Policy
Economic Development
Economics
International Economics
Economic planning
Economic structure
Growth policy
Trade relations
Trade policy
Trade policy
Economic development
Regional economics
Economic forecasting
Economic development projects
Success in business
Business
Free trade
Business
Economics
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