|Table of Contents|

Regional economic integration strategy under the new development pattern of dual circulation:the potential impact of RCEP(PDF)

《长安大学学报（社科版）》[ISSN:1671-6248/CN:61-1391/C]

Issue:
2021年01期
Page:
80-92
Research Field:
国际经济与贸易
Publishing date:
2021-02-20

Info

Title:
Regional economic integration strategy under the new development pattern of dual circulation:the potential impact of RCEP
Author(s):
LIN Faqin;  LIU Mengxun;  LV Yutong
School of Economics and Management, China Agricultural University, Beijing 100083, China
Keywords:
regional economic integration;  Regional Comprehensive Economic Partnership(RCEP);  the Association of Southeast Asian Nations(ASEAN);  domestic circulation;  dual circulation;  value chain specialization;  industrial chain;  production factor;  economies of scal
PACS:
F744; F114.46
DOI:
-
Abstract:
The Regional Comprehensive Economic Partnership(RCEP)is a new starting point for deepening regional cooperation in East Asia and an important milestone for regional economic integration. The successful signing of RCEP can help build a new development pattern of China’s "dual circulation" and provide new impetus for the realization of the ideal of Asia-Pacific economic integration. From the perspectives of international economic situation, China’s actual situation and the trend of regional economic integration, this paper describes the development and current status of RCEP, and further studies the path of RCEP promoting China’s construction of a new development pattern of dual circulation from the regional value chain perspective of how RCEP promotes domestic circulation, the theoretic mechanism of RCEP and the domestic and international dual circulation, the potential economic effect of RCEP, and how regional economic integration can be achieved relying on domestic economic circulation. The research suggests that China needs to further eliminate domestic market barriers and give full play to the advantages of traditional industries and large market under the strategic goals of dual circulation which advocate in-depth efforts on quality improvement and capacity expansion of domestic circulation and internal and external linkage of international circulation; further build a comprehensive and efficient system of domestic demand and unleash the market potential of China’s super-large domestic demand at both the consumption and investment levels; further build a complete industrial chain including high, middle and low end, establish coordinated regional industrial chain clusters, accelerate the formation of international regional economic comparative advantages; further encourage capital to enter the field of innovation research, gain scientific and technological power in the new round of technological revolution of information digitalization, and promote the construction of a new development pattern of dual circulation driven by independent innovation.

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Last Update: 2021-02-20