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

Author

Listed:
  • Estrada, Gemma

    (Asian Development Bank)

  • Park, Donghyun

    (Asian Development Bank)

  • Park, Innwon

    (Division of International Studies, Republic of Korea University)

  • Park, Soonchan

    (Department of Economics and International Trade, Kongju National University)

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.

Suggested 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," Working Papers on Regional Economic Integration 92, Asian Development Bank.
    • Handle: RePEc:ris:adbrei:0092
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    Cited by:

    1. Jing Li & Hongkui Liu & Qian Xie, 2023. "Bilateral Relations and Exports: Evidence from Google Big Data," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 31(1), pages 182-210, January.
    2. Ali, Ashfaque, 2017. "A CGE Analysis of Pakistan-Turkey Free Trade Agreement," MPRA Paper 78318, University Library of Munich, Germany.
    3. Ekaterina Y. ARAPOVA, 2017. "Ex-Post Analysis Of The Influence Of Tariff Liberalisation On Asean Exports," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 17(2), pages 135-154.
    4. Oduncu, Arif & Mavuş, Merve & Güneş, Didem, 2014. "The Possible Effects of Trans-Pacific Partnership on Turkish Economy," MPRA Paper 52917, University Library of Munich, Germany.
    5. Wignaraja, Ganeshan, 2014. "The determinants of FTA use in Southeast Asia: A firm-level analysis," Journal of Asian Economics, Elsevier, vol. 35(C), pages 32-45.

    More about this item

    Keywords

    ASEAN; PRC; Japan; Republic of Korea; trade; free trade agreement; free trade area; CGE model;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration

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