The Study On The Economic Cooperation Between China And South Korea In The Process Of Regional Economic Integration

Regional economic integration is a major trend in international economic life since the second half of the 20 th Century.Regional economic integration refers to two or more countries or regions,by mutual agreement,to set economic and trade policies and measures,and conclude treaties or agreements in the process of economy,with their economy combined to form a regional economic and trade union.Since 1990 s,regional economic integration organizations have sprung up around the world,forming a strong new wave.This new wave of rapid advance,whose depth of cooperation,wide range of content,flexibility of mechanism,variety of forms,are unprecedented.The tide of regional economic integration not only reflects the new characteristics of the development of economic globalization,but also reflects the new trend of the development of multi polarization in the world.Since the establishment of diplomatic relations between China and South Korea in August 24,1992,China and South Korea in political relations,evolving from "Partnership for Twenty-first Century" to "Partnership of Comprehensive Cooperation" to " Partnership of Strategic Cooperation ",is continuously deepening.Economic cooperation between China and South Korea has made incredible achievements,during which,the bilateral trade volume increased by 40 times,daily round-trip flights and ships are more than 100 flights,Government-sponsored students between two countries are about 60,000 yearly.At present,China has become South Korea’s largest trade partner,the largest export market,the largest investment destination.South Korea has become China’s third largest trade partner,fourth largest export market and third largest source of imports.Counting from the establishment of diplomatic relations between the two countries,taking the completion of bilateral trade volume of $100 billion as a comparison,China and Japan spent 30 years,China and South Korea only shorted for just 13 years.The relationship between China and South Korea is a model of cooperation,which is beyond theseemingly impossible conditions such as ideology,political system,security system and so on.In the wave of regional economic integration,to further promote the economic cooperation between the two countries,China and South Korea officially launched the ROK FTA negotiations in May 2012,in order to provide institutional guarantee for bilateral trade in goods,development of electronic commerce,energy saving and environmental protection,financial services and other emerging services in the field of strategic cooperation,the two countries had been working together to build a stable and predictable framework specification.The establishment of China ROK FTA is a milestone,which will effectively promote the integration of East Asia and the entire Asia Pacific region.On February 25,2015,China and the ROK FTA both completed their initial full texts,the agreement was confirmed.So far,China ROK FTA negotiations completed.On June 1,2015,the China ROK FTA was officially signed,China and South Korea FTA innovatively introduced the terms of local economic cooperation,Weihai City and Inchon were defined as a demonstration area of local economic cooperation,playing an exemplary and leading role.On December 9,2015,Chinese Vice Minister of Commerce Wang Shouwen and ambassador of South Korea Kim Jang soo exchanged the diplomatic notes,jointly confirmed that "The Free Trade Agreement between China and South Korea" would officially come into force on December 20,2015,and the first tax reduction would be enforced,and the second tax reduction would be enforced On January 1,2016.The FTA finally air planted.The establishment of China and South Korea FTA can greatly stimulate bilateral trade,experts expect that the trade scale between the two sides will break through $400 billion within five years.Currently,bilateral trade has reached $300 billion.China and South Korea free trade agreement is by far China’s largest bilateral free trade agreement,which is also China’s largest free trade agreement.However,China and Korea relationship nowadays is totally different from 20 years ago,Since China has become the world’s second largest economy with enormous comprehensive national strength and international influence,economic complementarity between the two countries is coutinously shrinking,on the contray,economiccompetition is significantly increasing.In political realm,disputes between the two countries concerning historical problems,territorial disputes,fishing rights,attitude toward "defectors",cross-border crime problems are significantly increasing.In the field of economic cooperation,economic relations between China and South Korea are linking with the international industrial division of labor and the complexity of competition from the Asia Pacific geopolitical environment and broader scope.Looking at the Asia Pacific geopolitical environment,since Donald Trump became president of the United States in January,the U.S.Asia Pacific policy adjusted,the military in Japan and South Korea and other countries strengthened,seeking for return of real economy,the Japanese rightist moving restlessly,and the North Korean nuclear issue,the South China Sea issue,especially the deployment of "Sade" missile defense system on the Korean Peninsula,which pose a huge threat to the safety of China.China’s political and economic development space continue to be curbed,in such a new geopolitical environment,how to keep the speed of progress for China-ROK relations as20 years ago and play a greater role in political space and economic cooperation have become a major subject.Regional economic cooperation is the most successful motivation to promote the development of the bilateral relationship between China and South Korea,Economic cooperation,trade and investment between China and South Korea is not only very smooth in Weihai,Shandong Province,but also in Suzhou Jiangsu Province,which is successful and has accumulated a lot of experience.Promoting economic cooperation between China and South Korea is in line with the interests of China and South Korea.Therefore,we should deepen the China ROK FTA construction,accumulate the experience of regional economic cooperation,promote economic integration in South Korea,promote Japan and South Korea FTA construction,establish the "East Asian Community of Destiny",to promote the integration of the Asia Pacific region."Economically depends on China,security relies on the United States” is South K orea’s long-term national strategy,which had also reached a consensus in the South Kor ean government.From the Lee Myung-bak government to the Park Geun-hye government,both of them are dedicated to maintain a delicate balance between the two big power s.Be friendly with the two countries is in the best interests of South Korea,and is also t he largest movitation of economic cooperation between China and South Korea.Howev er,in January 2016,North Korea conducted the fourth nuclear test and tested a series of missiles before and after that,further more,the DPRK declared that their missile targets including South Korean territorial waters and the major airports,South Korea once agai n feels the security threats from North Korea.The continuous North Korean provocation exhausted South Korea’s patience,in June 2016,South Korea agreed to the deployment of the "Sade" anti missile system on its territory,which threatening China’s security an d strategic interests,and causing a strong protest and boycott from China,China and So uth Korea bilateral relationship turns for a sudden worse.North Korea takes sides betwe en China and the United States,undermines the basis of economic cooperation between China and South Korea,economic cooperation between China and South Korea faces a severe test.