We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
Published online by Cambridge University Press: 21 October 2015
In terms of the economic impact of the withdrawal of GSP benefits by the United States, Tables 21 and 22 show that domestic exports of items which were the top GSP exports in 1988 increased in 1989 despite the loss of GSP privileges. By this score, the economic impact seems inconsequential.
As for trade diversion to Japan and the EC, there seems to be evidence of more domestic exports of items which previously went to the United States under the GSP now going to Japan but not to the EC. With respect to Japan, an increase in Singapore's domestic exports of data-processing machines, other radio receivers, parts of TVs, radios, and plastic articles in particular, was observed for 1989. It must be cautioned, however, that the exact quantum of trade diversion cannot be conclusively determined as other factors such as the exchange rate, trade policies, and relative international competitiveness may have encouraged more of such exports into Japan.
Since one major objective of this study is also to draw implications for the target countries, it may be useful first to briefly review the GSP utilization of the target countries. This is shown in Table 25 as well as in Appendix 3. Two observations may be provided. One is that while the three ASEAN countries, namely, Indonesia, Malaysia, and Thailand, still rely on GSP benefits and would like to resist graduation, they are aware of the sentiments of preference-giving countries and realize that graduation is only a matter of time. Second, in the short run, while the benefits are available, they are trying their best to improve administrative rules and regulations to ensure better GSP performance as measured by the utilization rates.
In the case of Malaysia, specific reference was made of Singapore's loss of its GSP affecting Malaysian industries. This is in respect of certain products, particularly in electrical and electronic sectors, where Singapore inputs are crucial for Malaysia to attain the 35 per cent value-added requirement for the U.S. GSP scheme.
To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.
