Advertisement

The Mode of Economic Cooperation in the “One Belt and One Road” Construction

  • Zongxian Feng
  • Hua Wang
Conference paper
Part of the Springer Proceedings in Business and Economics book series (SPBE)

Abstract

In view of the regional economic cooperation and integration, this paper analyzes the strategic conception of “Silk Road Economic Belt” and “21st Century Maritime Silk Road”(“One Belt and One Road” for short) raised by the Chinese people. It firstly discusses the major regional cooperation mechanism and the evolution of the type in this conception. Secondly, it discusses the competitive and cooperative relationship between the construction of “One Belt and One Road” and the current regional cooperation mechanism. Also, the possible effect which may exert on the construction of the “One Belt and One Road” from the emerging regional cooperation mechanism is also analyzed. Thirdly, it elaborates on the way China should adopt to guarantee the smooth implementation of “One Belt and One Road” by making use of the current regional cooperation mechanisms and cooperating with the ones that China has not yet participated. The result of this paper shows that China has been facing with two options currently in the construction of “One Belt and One Road.” One is through the strategic means of free trade area, and the other one is through the cooperative means of regional and subregional combination. From the perspective of the feasibility and the profitability, the construction of the “One Belt and One Road” should implement an innovative cooperation model, which, at the current stage, is not a supranational mechanism, nor a model at the same level with the Customs Union or the Economic Union; it should be, on the contrary, a platform for friendly cooperation which can provide the countries within the region with better economic exchanges and channel construction, a new idea and cooperative way to create better conditions and opportunities for collaboration among different countries, various mechanisms, and organizations. If conditions are right, it will form a higher and more extensive regional economic cooperation, including the institutional arrangements of the free trade area. Thus, this platform will promote the rejuvenation of the Silk Road and provide direct convenience to the integration of the region. This can also be called negative integration, a notion raised by Tinbergen, which is a development that seems to be doing nothing but can actually make contributions proactively.

Keywords

Silk Road Economic Belt Maritime Silk Road Regional economic cooperation Strategic prospect Path choosing 

References

  1. Balassa B (1961) The theory of economic integration. Irwin, HomewoodGoogle Scholar
  2. Balassa B (1965) Economic development and integration. CEMLA, MexicoGoogle Scholar
  3. Feng Wei, Cheng Guoqiang (2014) Evaluation of the international community to the “One Belt and One Road” strategy “along the way” initiative. China Economic TimesGoogle Scholar
  4. Fritz M (1979) A history of thought on economic integration. Macmillan, LondonGoogle Scholar
  5. Hu Weijia (2012) ASEAN edition of “10 + 6” ready. Caijing Magazine 2012(29)Google Scholar
  6. Li Fuchuan (2011) Customs Union of Belarus, Kazakhstan and Russia and its influence on Shanghai Cooperation Organization. Russ Cent Asian East Eur Mark 2011(7):1–9Google Scholar
  7. Liang Shuanglu, Cheng Xiaojun (2007) Summary of international regional economic integration theory. Inq Into Econ Issues 2007(1):40–46Google Scholar
  8. Liu Zhongwei, Shen Jiawen (2012) The review of research frontier and frameworks of Trans-Pacific Partnership Agreement (TPP). J Contemp Asia Pac Stud 2012(1):36–59Google Scholar
  9. Peter Robson (2001) The economics of international intergration (trans: Dai Bingran). Shanghai Translation Publishing House, ShanghaiGoogle Scholar
  10. Shi Jianhuai (2005) International symposium on “East Asian Economic Circle” reported briefing. http://www.ccer.edu.cn
  11. Tinbergen J (1954) International economic integration. Elsevier, AmsterdamGoogle Scholar
  12. Viner J (1950) The customs union issue. Carnegie Endowment, New YorkGoogle Scholar
  13. Xinhuanet (2014) “One Belt and One Road” strategy will lead the new economic landscape China Open. http://news.xinhuanet.com/fortune/2014-12/16/c_1113666080.htm
  14. Zhang Youwen (1999) The history of the world economic integration. Academia Press, ShanghaiGoogle Scholar

Copyright information

© Springer Science+Business Media Singapore 2015

Authors and Affiliations

  1. 1.School of Finance and EconomicsXi’an Jiaotong UniversityXi’anPeople’s Republic of China
  2. 2.School of Finance and Economics, School of Foreign StudiesXi’an Jiaotong UniversityXi’anPeople’s Republic of China

Personalised recommendations