The Impact of China and Taiwan Joining the World Trade Organization on U.S. and World Agricultural Trade: A Computable General Equilibrium Analysis

by Zhi Wang

This report quantifies the potential impact of China's and Taiwan's accession to the World Trade Organization on U.S. and world agricultural trade by means of a 12-region, 14-sector computable general equilibrium model for world trade and production. Integrating China and Taiwan into the global trading system could increase total world exports by as much as $78 billion (1992 constant prices), total world imports by $94 billion, and world real consumption by $45 billion annually, as well as induce more competition on labor-intensive products and reduce their prices.

Keywords: China, Taiwan, World Trade Organization, agricultural trade, exports, imports, world trade

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