Regulated Efficiency, World Trade Organization Accession, and the Motor Vehicle Sector in China |
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| Authors: | Francois, Joseph F. Spinanger, Dean |
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| Affiliation: | Joseph F. Francois is professor of economics and research fellow at the Tinbergen Institute and research fellow at the Centre for Economic Policy Research; his e-mail address is francois{at}few.eur.nl. Dean Spinanger is senior research economist at the Institute for World Economies in Kiel; his e-mail address is dspinanger{at}ifw.uni-kiel.de. |
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| Abstract: | This article is concerned with the interaction of regulatedefficiency and World Trade Organization (WTO) accession andits impact on China's motor vehicle sector. The analysis isconducted using a 23 sector25 region computable generalequilibrium model. Regulatory reform and internal restructuringare found to be critical. Restructuring is represented by acost reduction following from consolidation and rationalizationthat moves costs toward global norms. Without restructuring,WTO accession means a surge of final imports, though importsof parts could well fall as production moves offshore. However,with restructuring, the final assembly industry can be madecompetitive by world standards, with a strengthened positionfor the industry. |
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