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Abstract

Details

Middle-Power Responses to China’s BRI and America’s Indo-Pacific Strategy
Type: Book
ISBN: 978-1-80117-023-9

Article
Publication date: 29 June 2023

Su Pan, Xuanhao Zhang and Miraj Ahmed Bhuiyan

This study reveals the economic impact of the Indo-Pacific Strategy on the Regional Comprehensive Economic Partnership (RCEP).

Abstract

Purpose

This study reveals the economic impact of the Indo-Pacific Strategy on the Regional Comprehensive Economic Partnership (RCEP).

Design/methodology/approach

This paper uses the GTAP model to analyze the economic effects of RCEP under the effect of the “Indo-Pacific Strategy” under different scenarios.

Findings

The results show that (1) with the improvement of the implementation effect of the US “Indo-Pacific Strategy,” the welfare level of China has gradually had a significant negative impact, while the welfare level of US Allies and partners has been further improved. (2) The implementation of the Indo-Pacific Strategy will further expand the import scale of Japan, South Korea and other Allies that are both RCEP members and the USA and slightly reduce the import scale of the European Union (EU) and other countries. (3) After the USA implemented the “Indo-Pacific Strategy,” its export scale has significantly improved, and it has been able to completely offset the adverse effects of the signing of RCEP on its exports. China's export scale has also gradually declined, and Japan has benefited the most.

Originality/value

There are three main possible contributions to this article: first, the authors combined geopolitical factors to simulate and evaluate the economic effects of RCEP under different Indo-Pacific Strategy implementation scenarios, which is more relevant than analyzing the economic effects of RCEP in a “vacuum.” Second, the standard static GTAP model can only measure the change of equilibrium state before and after the trade policy. At the same time, the dynamic GTAP model (GTAP-Dyn) introduces mechanisms such as capital flow and capital accumulation and treats time as a continuous variable affected by exogenous variables so that each variable has a time dimension so as better to simulate the medium- and long-term economic effects. This paper refers to the dynamic recursion method of Walmsley (2006) and Yang (2011) to update the base year of the GTAP version 10.0 database to 2020, that is the time when RCEP officially reached 2020. The simulation results of shock variables introduced into the baseline scenario are more reliable. Third, the authors analyze the welfare effect of RCEP and the impact on the import and export of relevant countries from the macrolevel and examine the impact on different products in different countries from the microlevel.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Expert briefing
Publication date: 28 January 2021

All three countries are united by the objective to mitigate US-China rivalry by promoting multilateralism and engagement among middle powers, while at the same time using these to…

Expert briefing
Publication date: 8 August 2018

The trip was part of an effort to advance US President Donald Trump's idea of an Indo-Pacific community stretching from the US west coast to the Indian Ocean, as Pompeo said. With…

Abstract

Details

Middle-Power Responses to China’s BRI and America’s Indo-Pacific Strategy
Type: Book
ISBN: 978-1-80117-023-9

Abstract

Details

Middle-Power Responses to China’s BRI and America’s Indo-Pacific Strategy
Type: Book
ISBN: 978-1-80117-023-9

Abstract

Details

Middle-Power Responses to China’s BRI and America’s Indo-Pacific Strategy
Type: Book
ISBN: 978-1-80117-023-9

Executive summary
Publication date: 19 April 2021

EU: Indo-Pacific engagement will vary

Details

DOI: 10.1108/OXAN-ES260938

ISSN: 2633-304X

Keywords

Geographic
Topical
Expert briefing
Publication date: 5 July 2021

Though not explicitly aimed at China, it is in fact an expression of commitment to defending a status quo that China’s capabilities and behaviour increasingly challenge. European…

Details

DOI: 10.1108/OXAN-DB262559

ISSN: 2633-304X

Keywords

Geographic
Topical
Content available
Book part
Publication date: 14 April 2022

Abstract

Details

Middle-Power Responses to China’s BRI and America’s Indo-Pacific Strategy
Type: Book
ISBN: 978-1-80117-023-9

1 – 10 of 442