Showing papers by "Jacinto F. Fabiosa published in 2016"

Trade Organization: What Is at Stake for Agricultural Markets?

Abstract: We analyze the impact of China's accession to the World Trade Organization on major crop and livestock markets using the Food and Agricultural Policy Research Institute (FAPRI) modeling framework. We incorporate expected changes in consumer income, textile production, and trade policies as exogenous shocks to the baseline model. Following accession, revenues decline in China's livestock, grain, and oilseed industries, while cotton production prospers despite increased imports. Chinese consumers benefit from lower food prices, with vegetable oil, dairy, and meat consumption increasing significantly. Argentina, Brazil, Canada, the European Union, and the United States are the greatest beneficiaries from expanded agricultural trade with China. W e analyze the impact of China's accession to the World Trade Organization (WTO) on agricultural and food markets based on the agreements China has signed with the United States, Canada, and the European Union (EU) prior to accession. We investigate the implications of accession on Chinese and world agricultural markets. Our analysis includes all major crops and the livestock and dairy sectors. We quantify the impact of the policy changes implied by accession in