CHINA’S ACCESSION TO THE WTO. WHAT IS AT STAKE FOR AGRICULTURAL MARKETS?
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We analyze the impact of China’s accession to the WTO on agricultural markets using the FAPRI modeling framework. Our analysis includes major crops, livestock sectors, and exogenous changes in consumer income, expanded textile production, and policies. Chinese livestock, grain and oilseed crushing industries experience lower revenues, while cotton production prospers with accession, despite increased cotton imports. Most food prices decrease with accession. Chinese consumers benefit from these lower prices, with vegetable oil, dairy and meat consumption increasing significantly. The increase in world agricultural trade with China benefits Argentina (soy meal and oil); Brazil (soy oil and poultry); Canada (pork); the EU (pork); and the United states (pork, poultry, soy oil).