World Economy · 2019 · 52 citations · 22 references
Social SciencesEconomicsInternational RelationsInternational EconomicsInternational TradeInternational Trade PolicyComparative AdvantageCross-border TradeGlobal Political EconomyInternational CooperationTrade LiberalizationTrade PolicyCompetition Effects On TradeInternational Trade EconomicsKorean EconomyRegional Economic PolicyRegional Spillover EffectsTrade Diversion EffectsTrade Liberalization Under Political Economy ConstraintsTrade Wars
Abstract Using ex post tariff schedules for the first time, it was found that the global gains provided by the Regional Comprehensive Economic Partnership (RCEP) are not enough to overcome the negative impacts of the United States–China trade dispute. While trade tensions cause China's welfare loss to be more than twice as large as the United States, they provide some trade diversion to RCEP members. But of concern is if India successfully delays the conclusion of the RCEP even by a year, there will be a global loss of US$17.7 billion. The RCEP is also beneficial for the emerging economy of Vietnam and the high‐tariff‐imposing Korean economy. The results obtained here are, however, conservative as reduction in non‐tariff barriers and other positive spillover effects of trade liberalisation related to investment and productivity improvements due to competition or increased intra‐industry trade could not be accounted for.
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The Day After Tomorrow: Evaluating the Burden of Trump's Trade War
Meixin Guo, Lin Lu, Liugang Sheng et al. · Asian Economic Papers · 2018 · 129 citations