CHINA'S IMPACT ON GLOBAL SEAFOOD MARKETS

In this article we attempt to evaluate China's impact on global seafood trade. The estimated export similarity and relative price indices indicate structural change in the observed global seafood trade patterns. Accordingly, the inverse Almost Ideal Demand System model with a transition function is applied. The estimated demand flexibility indicates a rising substitutability between seafood products from China and other developing countries. By contrast, China's expansion has a less negative influence on the prices of seafood products from developed countries.