Agriculture Reference
In-Depth Information
cent (US$44 million), respectively (Table 13.10). In contrast, China's exports
to other regons declne by 0.4 per cent (US$2.4 bllon). The same pattern
occurs in ASEAN+5 and the new ASEAN countries, even with the reduction
in trade among ASEAN members. As for the other regions, exports to China
and ASEAN+5 fall by 0.9 per cent (US$5.2 billion) and by 0.5 per cent (US$1.6
billion), respectively. Exports to the new ASEAN members, however, and
to the other regons (ndvdually) rse by 1 per cent (US$201 mllon) and
0.1 per cent (US$3.5 billion) respectively. Overall, exports of the rest of
the world decline by 0.1 per cent (US$3.1 billion).
Table 13.11 shows the changes in supply prices and output in China.
Except for sugar, vegetable oil and electronics, supply prices rise due to
the ncreasng costs of the prmary factors. Because land s the sluggsh
factor, land rents in the sugar and vegetable oil sectors in China fall
because of the dramatc declne n the producton and prces of sugar
and vegetable ol caused by the large mports of these commodtes from
ASEAN. The prce declne n electroncs s caused by the cost reducton
of the ntermedate nputs more than offsettng the ncreases n prces
of the prmary factors. The elmnaton of mport tarffs wll reduce the
Table 13.10 Changes in bilateral trade after the implementation of the
ACFTA, up to 2010
China
ASEAN+5
New ASEAN
Other regions
Exports
Value (US$ million, in world prices)
China
0
8,800
44
-2,380
6,463
Old ASEAN
11,539
-2,147
-42
-4,632
4,717
New ASEAN
465
-97
0
-215
153
Other regions
-5,159
-1,611
201
3,454
-3,115
Imports
6,845
4,944
203
-3,773
Percentage
China
35.6
0.9
-0.4
1.1
Old ASEAN
41.4
-2.7
-1.0
-1.7
1.4
New ASEAN
9.6
-1.0
0
0.8
0.4
Other regons
-0.9
-0.5
1
0.1
-0.1
Imports
1.7
1.4
0.5
-0.1
Source:
Results of authors' smulaton.
