Difference between wto and gatt pdf11/12/2022 Third, our hypothesis of political proximity proves to be more influential to Chinese trade authorities’ initiatives. Second, we find out that China shows a clear preference for making trade deals with neighboring countries, which ratifies China´s strategy to consolidate its regional hegemony in Asia. First, concerning profile policy - we show, confirming previous theoretical studies, that the US follows a standard trade strategy while China favors an idiosyncratic posture in the scope of its trade deals. Our results unveil three major discrepancies that stand out as distinguishing national strategies towards trade agreements. In order to assess the rise of bilateralism, we methodologically choose to examine the protagonist role played by China and the US in the international integration scenario.Įmpirically, our results show that China and the US hold roughly the same number of FTAs in effect. Indeed, the multilateralism-regionalism dichotomy fails to accurately account for the scopes of trade integration occurring in the past two decades. In this study, we aim to evaluate the expansion of bilateralism.
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