한ㆍ중 FTA의 경제적 효과와 대응방안

Abstract

Regionalism and multilateralism have become the mainstream forces of the world's trading system. While Korea had been relatively passive in regionalism movement before, its government has recently announced policy goals to pursue a number of FTAs simultaneously and has been actively engaged in this process. As a country that relies heavily on the external sector, Korea's economic prospects are closely tied to efforts to secure access to foreign markets through formulating FTAs. In this context, China can be a highly beneficial FTA partner for Korea. China is Korea's neighboring country that has become the largest trade partner, and has an immense potential for future economic growth. Korea should, therefore, best utilize China's economic dynamism and rapid growth to stimulate its own economic grwoth. In this point of view, the purpose of this study is to propose the effect of macroscopic economy and countermeasures which are brought by Korea-Chana FTA. This study is given to compare the competitiveness between two countries with RCA(Revealed comparative Advantage Index) to analyze which is sensitive item for Korea-China FTA. FTA between Korea and China is expected not only to expand the scale of trade but also to improve real GDP and the public welfare level in Korea. However, it is also expected that the domestic weak industries will be given a pressure of downsizing highly and ,according to this, the loser group will resist strongly. Now, China can enjoy exceptionally advantageous economic gains in the Korean market. China's competitiveness in agriculture, outweigh that of Korea, which implies that the gain will be one-sided. Based on it, complete tariff elimination for agriculture products is expected to result in serious damages to the farming sector in Korea. Meanwhile, the manufacturing sectors in Korea and China are complementing each other, so FTA between two countries provides an opportunity for Korea to upgrade its industrial structure by further specializing in the manufacturing sector. It also provides an opportunity to share the gains of trade liberalization through an expansion of intra-industry trade. FTA(Free Trade Agreement) is already emerging as a new world trend and Korea which is lack of natural resources, has to remain its economic development stably and persistently by expanding the trade volume. FTA between Korea and China can bring them to increase the economic inter-dependence and to give us the benefit in political policy and defense. In other words, FTA between Korea and China helps the achievement of peace and the stable in Korean Peninsular and North-east Asia. Also, it will help Korea to be the central country of economic integration in North-east Asia and East Asia.