After years of negotiations, the free trade agreement

between China and South Korea and that between China and Australia have both

taken effect on Dec. 20.The China-Australia FTA means that tariffs will

be lifted on 95 percent of Australian exports, hurdles will be lowered for

Chinese businesses to invest in Australia and more visas will be granted for

Chinese visitors.Australia is also a member of the US-led TPP signed

earlier this year. How will Australia handle its position of standing in between

the US and China?First, PIK talked with Professor

James Laurenceson, Deputy Director of the Australia-China Relations Institute,

University of Technology SydneyDespite the concerns

over employment, the China-Australia FTA is widely popular with the general

public, agricultural sectors and service sectors.What about the FTA

between China and South Korea? Under this deal, Seoul and Beijing will each

eliminate tariffs on more than 90 percent of traded goods within 20 years after

the implementation of the agreement. Just how beneficial will this agreement be

to the Korean economy after it takes effect?We are now joined by

Dr. Chang Yong Ha, Assistant Professor, Peking

University HSBC Business School:The FTAs that China

has signed with countries in recent years are playing important roles in further

expanding bilateral trade and investment, and facilitating the free flow of

capital, goods and people.So how is China's FTA strategy going? Next PIK  spoke to Prof. Zhang Jianping, Director

of the Department of International Economic Cooperation, Institute for

International Economic Research, National Development and Reform Commission.