国贸理论与政策PREFERENTIAL TRADE ARRANGEMENTSPPT.pptVIP

* Ch.11PREFERENTIAL TRADE ARRANGEMENTS * Regional Trade Arrangements Free Trade Area (FTA): Eliminate internal trade barriers but maintain existing barriers to nonmembers NAFTA， North American Free Trade Agreement，北美自由贸易协定。 LAFTA， Latin-American Free Trade Association，拉丁美洲自由贸易协会。 EFTA， European Free Trade Association，欧洲自由贸易联盟。 Customs Union (CU):Eliminate internal trade barriers and erect设立 common barriers to nonmembers European Community (European Union now) and Mercosur南方共同市场 (the Southern Cone圆锥体 Common Market南锥体共同市场 ). * Trade Creation Trade Diversion Initial最初的situation in Country A: A levies100 % tariff on imports from B and C. Products from B and C are $2.00 and $1.50. A imports from C of EF. A’s consumers pay $3. A’s gov’t collects $1.50 for each unit of imports. A forms an FTA with B and eliminates the tariff. The consumer price declines to $2. Imports increase to GH, all from B. * Trade creation: A’s domestic price declines, consumption increases and production declines. Imports increase by GE and FH. Trade diversion: A now imports from B. The source of imports diverts from C (the world’s lowest-cost producer) to B (the lowest-cost member producer). As a result, A pays more for its imports. * Figure 9.01 Regional trade liberalization * Problems with Regionalism Discrimination against nonmembers Cause trade diversion Some Justifications for Regionalism Complementary补充的 to the process of multilateral liberalization under GATT, thus not inconsistent不一致的 with GATT: the current official position of the US Most trade blocs are natural. Trade diversion is small and the benefit of trade creation is much greater. (Krugman) * NAFTA The United States, Canada, Mexico Effective January 1, 1994 15-year phase-in[feizin]逐渐采用 period and virtual free trade by 2008 Mexico Previously以前pursued[p?‘su:]追求 import substitution, high tariff wall, inefficiency High budget deficits, inflation Overvalued currency Periodic balance of payments crises Discovery of oil, boom