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GTAP Resources: Resource Display

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


Abstract
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
Version:
Created: Bacou, M. (9/27/2000)
Updated: Wang, Z. (8/27/2007)
Visits: 1,760
- Agricultural policies


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