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GTAP Resource #147

"The Impact of China and Taiwan Joining the World Trade Organization on US and World Agriculture Trade: A ComputableGeneral Equilibrium Analysis"
by Wang, Zhi

This report quantifies the impact of China’s and Taiwan’s accession to the World Trade Organization on U.S. and world agricultural trade by means of a 12-region, 14-sector Computable General Equilibrium model for world trade and production. Integrating China and Taiwan into the global trading system could increase total world exports by as much as $78 billion, total world imports by $94 billion at 1992 constant prices, and world real consumption by $45 billion annually, as well as induce more competition on labor-intensive products and reduce their prices. It could drive up the demand for capital- and skill-intensive manufactured goods, thus further improving industrial countries’ terms of trade. The expansion of labor-intensive sectors in China could also induce contraction in agricultural exports from China and increase its net agricultural imports by as much as $8.4 billion annually, causing food and agricultural exports from other regions to increase. Total U.S. food and agricultural exports could increase by as much as $2.2 billion annually, with the non-grain crops and processed food sectors gaining the most. The biggest winner from China’s WTO accession is China itself. WTO membership could bring a net welfare gain of about $20 billion a year for China, a substantial benefit compared with the gains for the United States

Resource Details (Export Citation) GTAP Keywords
Category: GTAP Application
Status: Published
By/In: Technical Bulletin 1858, Commercial Agricultural Division, Economic Research Service, US Dertment of Agriculture. May
Date: 1997
Created: Bacou, M. (9/27/2000)
Updated: Wang, Z. (8/27/2007)
Visits: 2,110
- Agricultural policies

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