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Sponsors:
National Institution for Research Advancement, Japan (NIRA)
China Development Institute (CDI)
Special Support:
The People's Government of Guangxi Zhuang Autonomous Region |
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Home / Conference / The 9th Academic Forum on East Asian Economy |
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Backgrounds of the Conference |
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In 1990's, East Asia was growing at a remarkable rate in the world economy. The share of the regional trade volume in the global trade increases rapidly; and some countries in the region have accumulated strong economic strength so that they have entered into the process of new industrialization. East Asia has not only becomes one of the most economically dynamic regions in the world, but also a mainstay of the world economy that stands side by side with North America and EU.
Pushed by the countries in East Asia, Asia speeds up its regional economic integration, and much progress is achieved in ASEAN FTA, ASEAN "10+3" and " 10+1". In 2004, the total GDP of China, Japan and Korea exceeded USD 7 trillion, which accounted for 1/5 of the world economy. In 2003, the total foreign trade volume of the three countries exceeded USD 2 trillion, and among which, 58% came from the inter-regional trade. It is obvious that a mutually dependent regional trade chain is coming into being in the Northeast Asia.
On one hand, the continuously and steadily developing Chinese economy will become the new driving force of Asian economy; on the other hand, the recovering Japanese and Korean economy plays an important role in the stable growth of the East Asian economy. In East Asia, the future China, Japan and Korea Free Trade Agreement (CJKFTA) is critical to the furtherance of regional economic integration, and ASEAN plays an indispensable role in the sub-regional cooperation. The establishment of Sino-ASEAN、Japan-ASEAN and Korea-ASEAN FTA will have major influence on the trend of the economic layout in East Asia (such as the oil corridor, sea transportation corridor, global strategy of Japanese and Korean multinational firms, etc.) It is much hoped that the current negotiation process of China, Japan and Korea respectively with ASEAN would be finalized soon and provides a new impetus to the China, Japan, and Korea -ASEAN cooperation as the major driving force of the East Asian integration.
Under the macro-economic strategy in China, the role of Guangxi and Yunnan, which are the two frontier provinces in Sino- ASEAN FTA, has changed dramatically. The two provinces all border with ASEAN. The advantage of Guangxi is that it is not only the corridor for South China heading towards the south west, but also the gateway for China heading towards ASEAN. And the advantage of Yunnan lies on the Golden Watercourse of Lancang River and Mekong River as well as the Pan-Asian Railway Plan of Kunming China to Singapore. ASEAN 10+1 and ASEAN Fair have brought along unprecedented historic opportunity for Guangxi. Whether Guangxi can catch the opportunity and hence become the real bridgehead for China heading towards ASEAN poses a great challenge for the province.
Since 1995, National Institute for Research Advancement in Japan and China Development Institute have jointly launched eight forums on Economic Cooperation in East Asia respectively in Shenzhen, Hong Kong, Okinawa, Sanya, Macao, Fukuoka, Taiwan and Jeju-do. In the forums, officials, experts, scholars and entrepreneurs from Mainland China, Japan, Korea, Taiwan, Hong Kong and Macao discussed about the issues which the economic Cooperation in East Asia were facing in different stages. The practical research results of the Academic Forum of Economic Cooperation in East Asia have not only provided references for the economic policy decisions of the East Asian countries, but also played an important role to push forward the regional economic cooperation in East Asia.
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