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Impact of Globalization on International Trade between ASEAN-5 and China: Opportunities and Challenges

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  • Liu Yunhua

    (Assistant Professor of Economics, Nanyang Technological University, Singapore)

  • Luo Hang

    (Lecturer in Economics, Auckland University of Technology, New Zealand)

Abstract

This paper evaluates the impact of China's WTO entry and the establishment of a free-trade agreement between China and ASEAN on the ASEAN-5 (Indonesia, Malaysia, Philippines, Singapore and Thailand). We examine the trade competition between the two regions using a market-share model and assess the impact of China's WTO entry on the ASEAN-5 with an exchange rate-tariff model, based on two-digit SITC data. It is found that for the period 1987 to 2000 the competition in trade only occurred between China and Singapore in manufacturing goods, while the competition between China and other four nations was in primary goods. The trade-widening opportunity between the two regions appears much larger than the competitive challenges for ASEAN-5 after the WTO entry of China and the establishment of FTA between ASEAN and China, impacts on different industries are evaluated.

Suggested Citation

  • Liu Yunhua & Luo Hang, 2004. "Impact of Globalization on International Trade between ASEAN-5 and China: Opportunities and Challenges," Global Economy Journal, De Gruyter, vol. 4(1), pages 1-20, October.
    • Handle: RePEc:bpj:glecon:v:4:y:2004:i:1:n:6
    DOI: 10.2202/1524-5861.1005
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    Citations

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    Cited by:

    1. Liu, Yunhua, 2007. "Facing the challenge of rising China: Singapore's responses," Journal of Policy Modeling, Elsevier, vol. 29(3), pages 505-522.
    2. Yunhua Liu & Beoy Kui Ng, 2010. "Facing the Challenge of the Rising Chinese Economy: ASEAN's Responses," Review of Development Economics, Wiley Blackwell, vol. 14(s1), pages 666-682, August.
    3. Donghyun Park & Innwon Park & Gemma Esther B. Estrada, 2009. "Prospects for ASEAN–China Free Trade Area: A Qualitative and Quantitative Analysis," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 17(4), pages 104-120, July.
    4. Park, Donghyun & Park, Innwon & Estrada, Gemma Esther, 2008. "Prospects of an ASEAN–People’s Republic of China Free Trade Area: A Qualitative and Quantitative Analysis," ADB Economics Working Paper Series 130, Asian Development Bank.
    5. Hamanaka Shintaro, 2012. "Trends of Trade Interdependence and Prolifiration of FTAs in Asia: 1980-2010," Global Economy Journal, De Gruyter, vol. 12(2), pages 1-23, June.
    6. Lévy, Brigitte, 2007. "The interface between globalization, trade and development: Theoretical issues for international business studies," International Business Review, Elsevier, vol. 16(5), pages 594-612, October.

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