1. Overall Changes: EV in the Four Experiments (in millions US $)

2. Changes of EV in High Income Countries (in million US $)

3. Decomposition: Changes of EV in US by policy instruments (in million US $)
Total effect
Import tariffs
Export subsidy
Domestic support
Lib_Trade
Lib_Agri

4. Changes of EV in Developing Countries (in million US $)

5. Decomposition: Changes of EV in China by policy instruments (in million US $)
Total effect
Import tariffs
Export subsidy
Lib_Revenue
Domestic support
Lib_Trade

6. Decomposition of EV: Changes in China (in million US $)
Total effect
ToT-Effect
Allocation effect
Lib_Revenue
Lib_Trade

7. Decomposition of ToT in Lib_Trade: Changes in China (in million US $)
Total effect
pimport
pexport
Agriculture
pworld
Mnfcs
Svces

8. Conclusions
Developing Countries are gaining most from total trade liberalization
The greatest effects of trade liberalization are attributed to the reduction of import tariffs
Especially China shows large welfare gains
Most of China’s welfare gains come from liberalization of manufactured products
China’s welfare effect is dominated by the TOT effect
The TOT effect of China is highly influenced by the change in export prices for manufactures
The USA shows a mirror image of the welfare changes of China

9. Decomposition: Reduction import tariff, effects on China, production specific (in US $ million)
Effect on import tariff
Mnfcs
Other Crops
Oilseed
Grains
Rest