What Does The Asia Pacific Free Trade Area Mean To China?
The goal of the Asia Pacific Free Trade Area (FTAAP) is to achieve long-term development through Asia Pacific economic cooperation.
This paper examines the impact of FTAAP on China's national and regional economies through a general equilibrium model.
APFTA's impact on China's economy is also compared with other forms of free trade area, such as the ASEAN China free trade area and the East Asian Free Trade Area.
It was found that China benefited from all free trade zones, while East China benefited most.
The report also found that the degree of China's benefit increased with the expansion of the free trade area. That is to say, in all the free trade areas, APFTA has the greatest effect on China's economy.
From the perspective of the whole industry, the textile, clothing and footwear industry is the biggest beneficiary of FTAAP, while auto and auto parts are the biggest damaged industries.
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