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This paper analyzes the impact of continued rapid, growth in china on her trading partners using a multiregion, applied general equili,brium model. con_ trary to conuentional wisdom, we find that most deueloping countries benefit from china's growth. Product dffirentiation plays a key role in this flnding. systematic analysis of these welfare gains shows that, as exfected,, simple terms of trade calculations based on net trade positions and aaerage world price changes Predict a loss for the deueloping countries. Howeaer, with the exceptions of south Asia and rhailand, this /oss l's oaershadowed, by a positiue rnnue_

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