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The PRC’s Free Trade Agreements with ASEAN, Japan, and the Republic of Korea: A Comparative Analysis

Gemma Estrada (), Donghyun Park (), Innwon Park () and Soonchan Park ()
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Soonchan Park: Department of Economics and International Trade, Kongju National University

No 92, Working Papers on Regional Economic Integration from Asian Development Bank

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.

Keywords: ASEAN; PRC; Japan; Republic of Korea; trade; free trade agreement; free trade area; CGE model (search for similar items in EconPapers)
JEL-codes: F10 F14 F15 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2012-01-01
New Economics Papers: this item is included in nep-int and nep-sea
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