negotiations with the U.S. and EU, the world is interested in opening China's domestic market and taking advantage of the … opportunities. Existing papers about China's entry into the WTO generally analyze the impact on China and the world economy based on … liberalization on the economies of Northeast Asia and the world economy. According to the results, China's trade liberalization will …

sectoral comovements. Also important are shocks to the world business cycle and oil prices. In contrast, shocks to the domestic … amounts of sectoral correlation due to domestic business cycle shocks, world business cycle shocks, and government spending …