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case of China's recent WTO accession will overstate the increase in China's trade flows by 40 percent, welfare by 15 … drawbacks are ignored. The bias in the estimates of China's real GDP, trade flows, and welfare changes due to WTO accession … inputs at world prices, thus increasing their competitiveness, while maintaining the protection on the rest of the economy …
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An important issue in multilateral trade negotiations is the approach taken to reduce tariffs. The authors believe that there are important advantages in formula approaches and survey a range of options between the sharply top-down Swiss formula and proportional cuts in tariffs. Over the range...
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