Actual and Potential Trade Agreements in the Asia-Pacific : Estimated Effects
This paper assesses and compares economic impacts of four actual and potential free trade agreements in the Asia-Pacific Region; Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP, sometimes also called TPP-11), the origin...
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| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/171731585114146413/Actual-and-Potential-Trade-Agreements-in-the-Asia-Pacific-Estimated-Effects http://hdl.handle.net/10986/33549 |
| Summary: | This paper assesses and compares
economic impacts of four actual and potential free trade
agreements in the Asia-Pacific Region; Comprehensive and
Progressive Agreement for Trans-Pacific Partnership (CPTPP,
sometimes also called TPP-11), the original Trans Pacific
Partnership (TPP-12), the Regional Comprehensive Economic
Partnership (RCEP), and the Free Trade Area of the
Asia-Pacific (FTAAP). FTAs with a larger scale and wider
membership are expected to produce higher aggregate gains in
terms of increased GDP and trade flows. U.S. withdrawal from
TPP-12 reduced estimated GDP gains for the TPP-11 countries
by about half. For countries belonging to CPTPP and also
negotiating RCEP, the potential gains from an agreement with
both China and Korea are substantial, but not as large as if
the United States were to re-join TPP-12. On a sectoral
basis, significant structural shifts are observed for such
sectors as food processing, wearing apparel, textiles, and
transport equipment. |
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