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Trade Impacts of China's World Trade Organization Accession
Author(s) -
IANCHOVICHINA Elena,
MARTIN Will
Publication year - 2006
Publication title -
asian economic policy review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.58
H-Index - 20
eISSN - 1748-3131
pISSN - 1832-8105
DOI - 10.1111/j.1748-3131.2006.00005.x
Subject(s) - accession , china , economics , international trade , international economics , competition (biology) , world trade , free trade , trade barrier , european union , political science , ecology , law , biology
This study examines China's World Trade Organization (WTO) accession commitments and assesses their implications for China and the world using a model reflecting the importance of duty‐free intermediate inputs in China's exports. The WTO agreement built on earlier reforms that introduced competition into the trade regime, eliminated nontariff barriers and exchange rate overvaluation, and reduced tariffs. The reforms associated with accession were conservatively estimated to increase global real incomes by $74 billion per year, with $29 billion accruing to China and the remainder primarily to those countries trading directly with China. Some lower‐income developing countries faced greater competition from China in third markets.