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Impact of China's WTO Accession on East Asia
Author(s) -
Ianchovichina Elena,
Walmsley Terrie
Publication year - 2005
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1093/cep/byi020
Subject(s) - east asia , china , international trade , accession , foreign direct investment , competition (biology) , international economics , comparative advantage , investment (military) , natural resource , business , economics , developing country , european union , economic growth , geography , political science , ecology , archaeology , biology , politics , law , macroeconomics
The industrialized and newly industrializing economies (NIEs) in East Asia will benefit from China's WTO accession, and the developing economies in the region may incur small welfare losses. China will increase its demand for high‐end manufacturing products from Japan and the NIEs and farm products, natural resources, and manufactured goods from developing East Asia. New foreign investment may flow into these expanding sectors. The overall impact on foreign investment is likely to be positive in the NIEs but negative in developing East Asia. The NIEs may face heightened competition in global markets as China's comparative advantage shifts into high‐end products. (JEL F11 , F13 , F15 )