The New Trend Of Economic Cooperation In Northeast Asia And The Strategic Choice Of China In Post-crisis Period

With increasingly close economic connection among countries, economic globalization and regional economic integration has become an important feature in current world economic development. However, the WTO multilateral trading system of cooperation subjected to coordination difficulties renders the policy of countries turned to focus on participation in regional economic cooperation. Northeast Asian countries have followed and suited to establish various forms of regional economic cooperation mechanisms in various ways, conforming to the trend of regional economic integration. U.S. financial crisis in2008has been sweeping the globe. At the end of2009, the EU member states have confronted sovereign debt crisis. To date, with the further impact of the crisis in Europe and America, the Northeast Asian countries are subjected to different degrees. The financial crisis of this means both challenges and opportunities for Northeast Asia. On the one hand, the Northeast Asian economic structural adjustment and foreign economic policy changes may hinder the cooperation process of regional economic system. On the other hand, countries will improve the understanding of the importance of regional economic cooperation, and actively expand the process of regional economic integration in trade, investment, finance and in other fields. In this study, through defining the relative concept with respect to connotation of Northeast Asia, post period of financial crisis, regional economic cooperation and sub-regional economic cooperation as well as functional, transitional, and institutional regional cooperation, the literatures are systematically reviewed. Afterwards, based on the features in terms of trade, industrial complementarily degree of resource endowments and investment and financing point of view in Northeast Asia, Japan, Russia, South Korea, North Korea, Mongolia and other countries economic cooperation, the new trend of economic cooperation in Northeast Asia after the financial crisis is summarized, and the Northeast Asia Economic Cooperation and Development path of post-crisis period are discussed in detail, involving vigorously promoting the Free Trade Area of the Northeast Asian region, using the Northeast Asia sub-regional cooperation as an important breakthrough, undertaking the international transfer to innovate Northeast Asia division, boosting the Northeast Asia Economic Cooperation based on the project regarding to energy and transport logistics, strengthening the Northeast Asian financial cooperation. Based on the analysis of above problems, this study further demonstrates how our government shows the Northeast Asian regional advantage, and how to strengthen cooperation with Northeast Asian countries and regions of strategic options to promote China’s economic growth and economic development paradigm shift.