Abstract
This paper explores the potential impacts on both China and other major countries of possible mega trade deals. We use a 13-country computational general equilibrium model with trade costs to investigate both tariff and non-tariff reduction effects. Simulation results reveal that China-Trans-Pacific Partnership (TPP) and Regional Comprehensive Economic Partnership (RCEP) will yield the highest welfare outcomes for China. For the US, China-TPP FTA will generate the highest welfare outcome. For the European Union, all China involved mega deals have negative impacts except China–US FTA. For Japan, RCEP will generate the highest welfare outcome. For both Korea and India, RCEP will generate the highest welfare outcome.
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