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ID:
084745
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| Publication |
2008.
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| Summary/Abstract |
This paper uses an agricultural trade policy simulation model to quantitatively evaluate the effects of Blue Box policy reform on agricultural production and trade, and further provides specific proposals regarding China's reform position. The results indicate that, if the reform could achieve a reduction in distorting supports in more developed countries, China's total agricultural production would increase, accompanied by a decrease in agricultural imports and a slight increase in exports. In terms of social welfare, producers would gain significantly, consumers would lose and government would not suffer greatly, which is in accordance with current agricultural policies in China. As a core member of G20, China should approve a subsidy level as low as possible required by Blue Box to achieve "substantial reductions in trade-distorting domestic supports".
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| 2 |
ID:
092923
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| Publication |
2009.
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| Summary/Abstract |
This paper offers a critique of the picture of world growth and world inequality generally disseminated by international agencies. The positive view commonly presented depends on the widespread consensus that economic performance should be measured using 'Purchasing Power Parity' (PPP) statistics, instead of market exchange rates. Although originally conceived narrowly as a basis for comparing living standards, PPP indicators are now indiscriminately promoted as an unexceptionable standard for comparing and aggregating national income statistics. This article highlights the flaws in the PPP approach by accepting the claims made on their behalf at face value. It shows that, even on the basis of these claims, the wrong conclusions have been drawn. By comparing PPP and market exchange rate measures of inequality it shows that what really took place, at the end of the last century, was a systematic reduction in the prices of consumption goods in the Third World. PPP statistics have concealed this underlying and unsustainable trend, allowing it to be packaged as a stable reduction in poverty. Neither genuine growth, nor lasting poverty reduction was achieved over this period. The fall in the price of consumer goods masked a systematic failure to overcome the central problem of development-the high price of capital goods, which PPP statistics understate, and of intermediate goods, which they completely omit.
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