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

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  • The PRC's Free Trade Agreements with ASEAN, Japan, and the Republic of Korea: A Comparative Analysis
  • Asian Development Bank (ADB)
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Title The PRC's Free Trade Agreements with ASEAN, Japan, and the Republic of Korea: A Comparative Analysis
Similar Titles
Material Type Reports
Publisher

Asian Development Bank (ADB)

Date 2012
Series Title; No Regional Economic Integration Working Papers
Language English
File Type Link
Subject Economy < Trade

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.