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Expansion of EU's Free Trade Agreements into Asian Countries and Its Impact on the Chinese Economy

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  • Chang-Soo Lee
  • Backhoon Song

Abstract

This study investigates the macroeconomic impact of EU's free trade agreements with Asian countries and the US on the Chinese economy. In addition we examine the impacts on the Chinese industry output based on the framework of production network and production fragmentation. The expansion of the EU's economic reach toward ASEAN and Japan through free trade agreement will generate a positive macroeconomic effect on negotiation participants while it generates a negative effect on the Chinese economy: Some portions of existing trade and foreign direct investment will be shifted to partner countries from non-partner countries. However, according to a sectorial analysis, EU's free trade agreements with three countries result in a positive impact on China's electronics and machinery industry, because China's industry is linked to the production fragmentation and foreign affiliates play a crucial role.

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  • Chang-Soo Lee & Backhoon Song, 2015. "Expansion of EU's Free Trade Agreements into Asian Countries and Its Impact on the Chinese Economy," Global Economic Review, Taylor & Francis Journals, vol. 44(4), pages 431-451, December.
    • Handle: RePEc:taf:glecrv:v:44:y:2015:i:4:p:431-451
    DOI: 10.1080/1226508X.2015.1099248
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    Cited by:

    1. Jin Sun, 2021. "Do Higher‐Quality Regional Trade Agreements Improve the Quality of Export Products from China to “One‐Belt One‐Road” Countries?," Asian Economic Journal, East Asian Economic Association, vol. 35(2), pages 142-165, June.
    2. Zhou, Yan & Chen, Shumei & Chen, Mei, 2019. "Global value chain, regional trade networks and Sino-EU FTA," Structural Change and Economic Dynamics, Elsevier, vol. 50(C), pages 26-38.

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