2019
DOI: 10.1111/twec.12851
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Can the Regional Comprehensive Economic Partnership minimise the harm from the United States–China trade war?

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… Show more

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Cited by 39 publications
(23 citation statements)
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“…These results fall within the (admittedly wide) range of other recent estimates. At one end, our estimate of the global cost of the US-China trade war is $301 billion in 2030, much higher than the $121 billion estimated by Renuka Mahadevan and Anda Nugroho (2019). At the other end, our estimate is only half that of Minghao Li, Edward Balistreri, and Wendong Zhang (2019).…”
Section: Implications Of the Trade Warcontrasting
confidence: 59%
“…These results fall within the (admittedly wide) range of other recent estimates. At one end, our estimate of the global cost of the US-China trade war is $301 billion in 2030, much higher than the $121 billion estimated by Renuka Mahadevan and Anda Nugroho (2019). At the other end, our estimate is only half that of Minghao Li, Edward Balistreri, and Wendong Zhang (2019).…”
Section: Implications Of the Trade Warcontrasting
confidence: 59%
“…egional trade agreements (RTAs) have been sweeping the world and have become ubiquitous in facilitating international trade and investment [1][2][3] . After an 8-year-long negotiation, the ten countries of ASEAN (Association of Southeast Asian Nations), China, Japan, South Korea, Australia, and New Zealand finally concluded the Regional Comprehensive Economic Partnership (RCEP) in November 2020 and it became the largest RTA in the world in terms of both economic size and population.…”
mentioning
confidence: 99%
“…In response to the negative impact of the USA-China trade war, Mahadevan and Nugroho (2019) find that the global gains provided by the Regional Comprehensive Economic Partnership are not sufficient to overcome the negative impacts of the trade dispute. Meanwhile, Devarajan et al (2020) note that the most feasible way forward for developing countries is to not engage in retaliatory actions; although their exports to the USA will decline, they will benefit from the trade diversion caused by the trade war.…”
Section: Literature Reviewmentioning
confidence: 99%