| The process of regional economic integration in East Asia is in line with the trend of globalization and common interests of economies in the region.However,it is quite different from that in other regions,which mainly originates from the obvious effect of market-based integration embodied in production and trade ties instead of establishing frameworks of regional trade and investment agreements by governments.The ties in trade and investment among economies which are mainly driven by market are closer than several decades ago,while the process of achieving the goal of integration is not satisfying,which makes most people confused.With the rapid development of economy in East Asia,the mode of integration is determined by different requirements for market and government in different historical conditions.This paper will analyze the evolvement from market-based to government-led integration mode from the perspective of historical development,with comprehensive methods of theoretical and empirical analysis,and conclude that the regional economic integration in East Asia is mainly driven by spontaneous market factors so far,but regional institutional arrangements led by governments would strengthen and exceed the other to take the predominant position in the future.According to this conclusion,the paper believes that the radical path of regional economic integration in East Asia is to facilitate an institutional arrangement led by government at a higher level,and it is also the ultimate target of all economies in the region. |
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