The impacts of CAFTA on trade and FDI in China

The China and ASEAN Free Trade Area (CAFTA) was established on 4th November 2002. Since then, trade flows, trade structure, trade complementarities，trade competition and FDI between China and ASEAN have grown rapidly. Nevertheless, the basic issue remains - whether these growth are due to CAFTA. Th...

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Main Author:	Xiaohua, Zhang
Format:	Thesis
Language:	eng eng
Published:	2015
Subjects:	HF Commerce. JZ International relations
Online Access:	https://etd.uum.edu.my/5405/1/s93054.pdf https://etd.uum.edu.my/5405/2/s93054_abstract.pdf
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id	my-uum-etd.5405
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Chik, Abdul Razak
topic	HF Commerce. JZ International relations
spellingShingle	HF Commerce. JZ International relations Xiaohua, Zhang The impacts of CAFTA on trade and FDI in China
description	The China and ASEAN Free Trade Area (CAFTA) was established on 4th November 2002. Since then, trade flows, trade structure, trade complementarities，trade competition and FDI between China and ASEAN have grown rapidly. Nevertheless, the basic issue remains - whether these growth are due to CAFTA. Thus, this study examines the effects of CAFTA on China’s trade flow, trade structure, trade complementarities and competition and, the flow of FDI. A gravity model is used to estimate these effects, while the qualitative method is used to analyze the economic integration. Data for the analysis is obtained from UN database, WTO database, World Bank database and China Statistical Yearbook. This study employed five models to examine the effects of CAFTA on trade structure, trade complementarities and competition, the FDI flow and the effects on different regions in China. The overall results indicate that CAFTA produces trade creation effect and greatly improves the trade structure of China. CAFTA has caused an expansion of inter-industry trade of the main products (crude materials and manufactured goods) between China and ASEAN countries. It has strengthened the trade complementarities between China and Cambodia, Indonesia, Singapore, Malaysia and Thailand. However, there are tendencies of weakening trade complementarities between China, the Philippines and Vietnam. On the other hand, trade competition for some products between two sides indicated a different trend. Several ASEAN countries have experienced increasing export comparative advantages in agriculture products, food, fuels and mining products. Meanwhile, China has obvious export comparative advantages in manufactured products and machinery and transport equipment. In addition, the domestic analysis revealed a very promising effect. CAFTA has promoted trade growth for 17 provinces and 7 regions, with positive effect on the geographically advantaged provinces and regions in China. Surprisingly, CAFTA caused a reduction of FDI outflow and inflow in China. In conclusion, CAFTA has improved the trade growth and trade structure in China, while promoting the expansion of trade between China and ASEAN. However, FDI reduced due to CAFTA.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	Xiaohua, Zhang
author_facet	Xiaohua, Zhang
author_sort	Xiaohua, Zhang
title	The impacts of CAFTA on trade and FDI in China
title_short	The impacts of CAFTA on trade and FDI in China
title_full	The impacts of CAFTA on trade and FDI in China
title_fullStr	The impacts of CAFTA on trade and FDI in China
title_full_unstemmed	The impacts of CAFTA on trade and FDI in China
title_sort	impacts of cafta on trade and fdi in china
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2015
url	https://etd.uum.edu.my/5405/1/s93054.pdf https://etd.uum.edu.my/5405/2/s93054_abstract.pdf
_version_	1747827928004034560
spelling	my-uum-etd.54052021-03-29T09:46:33Z The impacts of CAFTA on trade and FDI in China 2015 Xiaohua, Zhang Chik, Abdul Razak School of Economics, Finance & Banking School of Economics Finance and Banking HF Commerce. JZ International relations The China and ASEAN Free Trade Area (CAFTA) was established on 4th November 2002. Since then, trade flows, trade structure, trade complementarities，trade competition and FDI between China and ASEAN have grown rapidly. Nevertheless, the basic issue remains - whether these growth are due to CAFTA. Thus, this study examines the effects of CAFTA on China’s trade flow, trade structure, trade complementarities and competition and, the flow of FDI. A gravity model is used to estimate these effects, while the qualitative method is used to analyze the economic integration. Data for the analysis is obtained from UN database, WTO database, World Bank database and China Statistical Yearbook. This study employed five models to examine the effects of CAFTA on trade structure, trade complementarities and competition, the FDI flow and the effects on different regions in China. The overall results indicate that CAFTA produces trade creation effect and greatly improves the trade structure of China. CAFTA has caused an expansion of inter-industry trade of the main products (crude materials and manufactured goods) between China and ASEAN countries. It has strengthened the trade complementarities between China and Cambodia, Indonesia, Singapore, Malaysia and Thailand. However, there are tendencies of weakening trade complementarities between China, the Philippines and Vietnam. On the other hand, trade competition for some products between two sides indicated a different trend. Several ASEAN countries have experienced increasing export comparative advantages in agriculture products, food, fuels and mining products. Meanwhile, China has obvious export comparative advantages in manufactured products and machinery and transport equipment. In addition, the domestic analysis revealed a very promising effect. CAFTA has promoted trade growth for 17 provinces and 7 regions, with positive effect on the geographically advantaged provinces and regions in China. Surprisingly, CAFTA caused a reduction of FDI outflow and inflow in China. In conclusion, CAFTA has improved the trade growth and trade structure in China, while promoting the expansion of trade between China and ASEAN. However, FDI reduced due to CAFTA. 2015 Thesis https://etd.uum.edu.my/5405/ https://etd.uum.edu.my/5405/1/s93054.pdf text eng public https://etd.uum.edu.my/5405/2/s93054_abstract.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia Aitken, N. D. (1973). The effect of the EEC and EFTA on European trade: A temporal cross-section analysis. American Economic Review, 63(5), 881-892. ASEAN Secretariat. (1996). 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