China's Entry into the World Trade Organisation

Book Cover......Page 1
Half-Title......Page 2
Title......Page 6
Copyright......Page 7
Contents......Page 8
Figures......Page 10
Tables......Page 12
Contributors......Page 14
Preface......Page 16
BACKGROUND......Page 17
STRATEGIC ISSUES AND POLICY CHOICES......Page 18
IMPACTS OF TRADE LIBERALISATION: QUANTITATIVE ASSESSMENTS......Page 20
ACCOMMODATING CHINA......Page 23
A BIG COUNTRY......Page 24
SECTORAL EFFECTS......Page 28
WHOSE ADJUSTMENT?......Page 36
CHINA AND JAPAN......Page 39
WHAT RULES?......Page 40
THE CHALLENGE......Page 43
3 Economic reform and development strategy in China......Page 44
INTRODUCTION......Page 46
HIODS AND MAJOR PRE-REFORM ECONOMIC PROBLEMS......Page 47
LOW ALLOCATIVE EFFICIENCY......Page 50
A GRADUAL APPROACH TO REFORM......Page 52
Micro-management system reform......Page 53
Resource allocation system reform......Page 55
Macro-policy environmental reform......Page 57
ACHIEVEMENTS AND PROBLEMS OF GRADUAL REFORMS......Page 58
Growth and inflation cycles......Page 59
Rampant rent-seeking......Page 60
CONCLUSION: CHANGES IN DEVELOPMENT STRATEGIES AND SUSTAINED GROWTH......Page 61
NOTES......Page 62
REFERENCES......Page 66
Foreign trade enterprises......Page 69
Import control system......Page 70
Foreign exchange control......Page 71
Expanding powers for local government approval of foreign-invested projects......Page 72
China’s status as a developing nation......Page 73
China’s market access and transparency......Page 74
Deepening and strengthening state foreign trade enterprises......Page 77
Optimisation of the licence system......Page 78
Decreasing tariffs to the level of developing countries......Page 79
Reform of the foreign exchange system and convertibility of the renminbi......Page 80
REFERENCES......Page 81
INTRODUCTION......Page 82
TRADE REFORM......Page 84
China’s revealed comparative advantage in world trade......Page 87
Real exchange rate and export competitiveness......Page 88
Foreign direct investment and trade......Page 91
DETERMINANTS OF EXPORTS......Page 93
CHINA AND EAST ASIAN ECONOMIES: PARTNERS OR COMPETITORS?......Page 95
CONCLUSIONS......Page 98
REFERENCES......Page 99
CHINA’S FORMER AGRICULTURAL POLICIES......Page 102
RISES IN AGRICULTURAL PRICES AND AGRICULTURAL IMPORTS......Page 103
EFFECTS OF TRADE LIBERALISATION ON AGRICULTURE AND RETURNS TO FARMERS......Page 106
The trend towards international trade liberalisation in agriculture......Page 107
China’s agricultural policy adjustments......Page 108
The model9......Page 110
EFFECT OF ECONOMIC GROWTH ON RELATIVE AGRICULTURAL PRICES......Page 111
Effect of economic growth and free trade in agricultural products on returns to factors......Page 112
NOTES......Page 113
REFERENCES......Page 114
7 The implications of China’s membership of the WTO for industrial transformation1......Page 115
THE PRIORITY OF ACCESSION TO THE WTO......Page 116
TRADE STRATEGY AND ECONOMIC REFORM2......Page 119
THE ASIA PACIFIC TRADE POLICY CONTEXT......Page 122
TRADE REFORM, INDUSTRIAL TRANSFORMATION AND INTERNATIONAL COMPETITIVENESS......Page 125
IMPACT OF WTO MEMBERSHIP: SOME EMPIRICAL ESTIMATES......Page 129
CONCLUSION......Page 132
REFERENCES......Page 133
INTRODUCTION......Page 136
A SUMMARY DESCRIPTION OF THE MODEL......Page 139
DATABASE AND PARAMETERS......Page 142
SIMULATION RESULTS......Page 147
NOTES......Page 152
REFERENCES......Page 153
Recent trade reforms......Page 155
Chinese tariff offers to the WTO......Page 156
POLICY SIMULATIONS......Page 162
Modelling duty exemptions......Page 163
Welfare evaluation with separate shocks......Page 165
RESULTS......Page 166
CONCLUSIONS......Page 170
NOTES......Page 171
REFERENCES......Page 172
INTRODUCTION......Page 174
THE GTAP MODEL......Page 175
DESIGNING THE EXPERIMENTS......Page 177
Experiment I......Page 178
Experiment II......Page 180
Experiment III......Page 183
CONCLUSION......Page 185
REFERENCES......Page 187
INTRODUCTION......Page 189
CHINA’S EXPORTS OF TEXTILES AND CLOTHING......Page 190
THE AGREEMENT ON TEXTILES AND CLOTHING3......Page 193
CHALLENGES AHEAD......Page 196
A QUANTITATIVE ASSESSMENT OF THE ATC......Page 198
IMPLICATIONS OF STRUCTURAL CHANGE FOR TEXTILES AND CLOTHING6......Page 200
CONCLUSION......Page 204
NOTES......Page 205
REFERENCES......Page 206
INTRODUCTION......Page 208
The sources of economic growth......Page 211
Historical evidence on productivity growth in the Chinese economy......Page 212
THE G-CUBED MULTI-COUNTRY MODEL......Page 213
PRODUCER BEHAVIOUR......Page 214
Government......Page 218
International trade and asset flows......Page 219
The baseline......Page 220
A rise in Chinese productivity growth......Page 222
CONCLUSION......Page 223
NOTES......Page 225
REFERENCES......Page 226
Abbreviations......Page 230
Index......Page 232