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Economic effects of a Korea-China FTA and policy implications(I)

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  • Economic effects of a Korea-China FTA and policy implications(I)
  • Lee, Hongshik; Im, Hyejoon; Lee, Inkoo; Song, Backhoon; Park, Soonchan
  • Korea Institute for International Economic Policy
Contents

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Title Economic effects of a Korea-China FTA and policy implications(I)
Similar Titles
Material Type Reports
Author(English)

Lee, Hongshik; Im, Hyejoon; Lee, Inkoo; Song, Backhoon; Park, Soonchan

Publisher

Seoul:Korea Institute for International Economic Policy

Date 2005
Series Title; No Korea Institute for International Economic Policy. Policy analyses / 05-03
ISBN 8932212457
Pages 124
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Holding Korea Institute for International Economic Policy

Abstract

Growing dependence on trade blocs in the global economy (creating more regionalism) puts pressure on Korea, whose international economic activities comprise more than 70 percent of its GDP, to create or join an active trade bloc. In other words, if Korea does not enter the global FTA network, Korea will face disadvantages. If Korea's major trading partners conclude FTAs with other nations and regions, Korean products will become relatively more expensive and lose price competitiveness in these markets because of the relatively higher tariff rates imposed on Korean products. (The rest omitted)