This article uses the GTAP (Global Trade Analysis Project) model and its Version-4 data base to explores the economic effects of global climate change with emphasis on agricultural trade in APEC region. It also investigates the possible differences between partial equilibrium welfare measures and general equilibrium welfare impacts due to climate change. The problem on overestimating the damages from climate change might be avoided if the myriad adaptations that farmers might make to climate are further modelled explicitly.