The Economic Impact of Modern PTA on Multilateral Trade and Its Normative Causes——An Evaluation of the Competition Policy Differences between RCEP and CPTPP
The economics profession has long debated whether preferential trade agreements are a"stepping stone"or a"stumbling block"to multilateral trade in the world,but the legal profession in China has not been able to give a systematic and positive response to this issue.The reason for this is that China's legal profession has long ignored the research results of the economics profession.Combing the theory of economics and empirical research,will find that the modem preferential trade agreements because of its"behind the border"and"non-discriminatory"characteristics in fact,to the world of multilateral trade has brought positive economic benefits.At the normative level,the above features of modem PTAs are mainly reflected by the operation of the two normative models.Meanwhile,under the perspective of competition policy rules,the economic contribution of CPTPP to world multilateral trade is theoretically higher than that of RCEP,and China's future attempts to connect to higher international economic and trade rules through domestic institutional reform will not only bring about a high level of development of China's economy,but will also contribute to world multilateral trade.
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