Module Name: Regional International Business
Module leader: Dr. Qing Lu
Since China implement the policy of reform and opening up in the late 1970s, Chinese has achieved explosive economic growth more than 10 percent per year frequently. In 2009 China became the second-largest economy in the world, just behind the United States. But at the same time, China suffered from the global financial crisis in 2009. Although China's economic develop have is facing the challenge of the economic globalization, but China seems to more tend to develop the regional economic integration.
The regional economic integration blocs which China joined
The regional economic integration bloc means according to a geographic area that established by two or more countries agree to reduce barriers to trade and investment. In present day, China has built 10 free trade area within 29 countries all over the world, included the Association of Southeast Asian Nations,the Asia Pacific Economic Cooperation, Chile, Pakistan, New zealand, Singapore.
APEC: Asia Pacific Economic Cooperation, the first meeting of this group in 5-7th.11.1989.Australia, American, Canada, Japan, Korea, Newzealand, and the 6 countries of ASEAN in the Australia and announced APEC was set up. The APEC named in 1993. China joined in the 1991. "We are united in drive to build a dynamic and harmonious Asia-Pacific community by championing free and open trade and investment, promoting and accelerating regional economic integration, encouraging economic and technical cooperation, enhancing human security, and environment. Our initiatives turn policy goals into concrete results and agreements into tangible benefits."( Griffin, R ) It is the final purpose of APEC.
CAFTA: China-ASEAN Free Trade Agreement, this agreement is the first agreement that China make with other countries, and the largest free trade agreement area...