Trade Liberalisation Scenarios for Wool Under an Australia-China Free Trade Agreement
AbstractThis study analyses the effects of removing Tariff Rate Quota (TRQ) and other barriers on wool imports into China using the Monash Multi-Country (MMC) model, a dynamic Computable General Equilibrium Model of Australia, China and the Rest of the World. The study suggests that TRQ on greasy wool represents the most restrictive barriers to wool imports into China, if the current level of quota holds. The elimination of TRQ on greasy wool is found to boost Chinese imports of wool from Australia and Chinese exports of textiles and clothing products to the Rest of the World significantly. The Australian wool and Chinese textiles and clothing industries stand to gain from the elimination of TRQ on greasy wool. Both countries also gain in terms of a slightly higher growth in real GDP and real GNP due to the elimination of TRQ on wool imports into China.
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Bibliographic InfoPaper provided by Victoria University, Centre of Policy Studies/IMPACT Centre in its series Centre of Policy Studies/IMPACT Centre Working Papers with number g-156.
Date of creation: Oct 2005
Date of revision:
Wool; China; FTA;
Find related papers by JEL classification:
- D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
- F15 - International Economics - - Trade - - - Economic Integration
- Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-08-12 (All new papers)
- NEP-CNA-2006-08-12 (China)
- NEP-INT-2006-08-12 (International Trade)
- NEP-TRA-2006-08-12 (Transition Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Yinhua Mai & Philip Adams & Mingtai Fan & Ronglin Li & Zhaoyang Zheng, 2005. "Modelling the Potential Benefits of an Australia-China free Trade Agreement," Centre of Policy Studies/IMPACT Centre Working Papers g-153, Victoria University, Centre of Policy Studies/IMPACT Centre.
- Mark Horridge, 2000. "ORANI-G: A General Equilibrium Model of the Australian Economy," Centre of Policy Studies/IMPACT Centre Working Papers op-93, Victoria University, Centre of Policy Studies/IMPACT Centre.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Horridge).
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