The Development And The Factors Of Regional Economic Integration And Cooperation In East Asia

Since 1990's, economy globalization and regional economy integration have been the main tendency of the world economy. East Asia is one of the regions in the world which has much activity. However, comparing to NAFTA and EU, the integration process is slower. This paper describes the status in quo of economy integration in East Asia and studies the important economic factors and political factors. Trade and investment are the important factors. The share of trade in intra-East Asia is less than the trade between East Asia and the USA or EU. However, here we calculate the Intensity of Trade in East Asia and we think the Intensity of Trade in East Asia is high. We can come to the conclusion that the trade in intra-East Asia is developing well and there is good potential in trade in East Asia. The foreign direct investment of East Asia is also come from the USA and EU mostly. The investment in intra-East Asia is less and the investment from China to other regions and countries is too small. To extend the investment intra-East Asia is very important to the purpose of regional economic integration in East Asia. The regional economic difference is another important factor in regional economic integration in East Asia. East Asia countries, especially the developing countries should develop economy faster. At the last chapter, this paper analyzes the prospect of the regional economic integration in East Asia. The free trade region can be come true under the situation recently. The long target in East Asia should be the East Asia Union. In order to achieve this aim, monetary cooperation should be another factor in regional economic integration in East Asia.