Studies On Regional Economic Cooperation Of China And Russia In The International Financial Crisis

New Century Financial Company, the second largest U.S. subprime mortgage company, declared bankruptcy on April 2007, which formally marked the outbreak of the U.S. subprime mortgage crisis. On September 2008, Lehman Brothers, which has a 158-year history and stands as the fourth largest U.S. investment bank, also declared bankruptcy. Since then the U.S. subprime mortgage crisis quickly turned into a ferocious international financial turmoil. This crisis, originated from the U.S. financial field, is unprecedentedly spreading across many counties, impacting deeply and resulting quickly a series of effects, and thus it leads to great sufferings of the world economy. In order to response to this financial crisis, countries in the world have taken various anti-crisis measures, to adjust their economic developing strategies and transform the way of economic development. At the same time, faced with the financial crisis, many countries'determination in strengthening regional economic cooperation to cope with the hard times was obviously strengthened. In the 21st century, the two emerging economic entities of China and Russia, were also not immune to the crisis and both economies had been suffered heavy losses. Confronted with this crisis, the two governments realized that the only way out was to closely catch the new developing opportunity, pursue bilateral cooperation positively, establish faith and trust between each other and transfer crisis to chances. So that the two countries can overcome the difficulties, put forward economic development, push their strategic partnership of coordination to a higher level, finally benefit the people of these countries and make the new contributions for the world. Therefore, under the background of international finance crisis, this thesis studies the China and Russia regional economic cooperation, hoping to bring some theoretic and practical significances to these countries.Firstly, this thesis defines the denotative and connotative meanings of the terms like regional economic cooperation, the China and Russia regional economic cooperation and so on. At first, this thesis clearly illustrates the implication of the regional economic cooperation, which refers to the different sovereign states'governments and some economic organizations, under the mutually beneficial premise, establishes certain cooperation and the coordinated mechanism in each domain, to realize the region resources optimum composition and enhance the entire region economic welfare's activities. And then the China and Russia regional economic cooperation has been delimited from broad and narrow senses irrespectively. It is pointed out that the China and Russia regional economic cooperation is not only adjoining the two countries to local trade operations, but also approaching one kind of economic cooperation in a broader region expanding across more domains, which is a multi-aspect, wide-domain and high-level cooperation. What's more, it introduces the survey of international finance crisis and its influences on the globalized economy and regional economic cooperation; it points out that the financial crisis is a double-edged sword, which brings the challenge and the difficulty to various countries and also provides various countries the opportunity to strengthen the regional economic cooperation. Finally, it elaborates the concept of post-crisis time and illustrate the characteristics of international situation in the crisis time.Secondly, this thesis analyzes the related theories like game theory, boundary integration effect theory, frontier location theory, international cooperation theory, regional economic cooperation theory, new system economic, ect. Especially it makes use of non-gambling and gambling theories of the game theory to analyze the necessity and the feasibility of China and Russia's strengthening cooperation, and then through new systematic economic theory's related gambling, the cooperation theory, the system theory and the system vicissitude theory, it emphasizes the importance of the institutional arrangements and the mechanism construction in China and Russia regional economic cooperation. This thesis also utilizes the cooperation culture of the construction principles in the international cooperation theory to demonstrate that when developing economic cooperation, both countries should consider not only the economic interests, but also the non-physical factors'influences, like cultural approval, social psychology. Because only by considering the cooperation of both sides'cultures, historic traditions, the difference of values and basing on mutual respects to seek for common ground while maintaining difference and strengthening the humanities'cooperation, both of the two countries can develop a harmonious, interactive and long-term cooperation. In brief, utilizing many kinds of theories as an analysis tool of researching China and Russia regional economic cooperation, this thesis may provide some aid to study the China and Russia regional economic cooperation.Thirdly, this thesis studies thoroughly and comprehensively the China and Russia trade operation course before the international finance crisis, analyzes the influence of international finance crisis on the Sino-Russian economic development and their regional economic cooperation and seeks for the present situation and the characteristic of their regional economic cooperation under the background of international finance crisis. And then it attempts to inquire the relevant factors and deep-level contradictions, which promotes or hinders the China and Russia regional economic cooperation, points out the reason why the China and Russia regional economic cooperation advancement is slow and the cooperation quality is not high is that the two countries lack enough cooperation approval, mutual confidence and effective institutional arrangements. At the same time, according to Sino-Russian development level and actual practices, the thesis proposes the cooperation method as"the government guiding, the market leading, the institution arranging and the cooperation approving", namely strengthening the guidance of government and policies, taking the enterprises as the main body and market force as the leadership, emphasizing the cooperation in the key projects and the domains, obtaining the bilateral common interests, firming two countries'cooperation desire, thus constructing standard effective cooperation mechanism and forming a kind of long-term cooperation approval. Meanwhile, the paper also proposes that China and Russia should construct an interstate economic cooperation zone and adopt the pattern of"administrative enclave economy", as one kind of exploration and attempt for constructing the China and Russia regional economic cooperation.Finally, this thesis predicts China and Russia regional economic cooperation development's prospects in the post-crisis period, proposes that both countries should develop positively bilateral regional economic cooperation under the frame of Shanghai Cooperation Organization and launches the cooperation specially in domains of energy, finance, science and technology. And the both sides realizes finally transformation of developing prospects from regional economic cooperation to the multilateral regional economic cooperation. This thesis has also utilized the method of qualitative and quantitative analysis, the data analysis to construct a one-dimension linear regression model to carry on detailed explanation and analysis of feasibility and necessity of establishing the free-trade zone in China and Russia and of the effects, opportunities and challenges to establish the Sino-Russian free-trade zone on this background. And then it illustrates that although both China and Russia do not meet the establishment free-trade zone requirements at present, the establishment of their the free-trade zone to adapt to the regional economic integration and regional economic cooperation is an inevitable developing trend. This paper also proposes some policies and suggestions in aspects of politics, economy, culture, system and so on to deepen the China and Russia regional economic cooperation.To sum up, by carrying out the China and Russia regional economic cooperation under the background of international finance crisis, this thesis concludes: China and Russia should hold the opportunity the international finance crisis brings out, base on their common interests, regard mutual faith as cooperation premise, adopt practical manners, promote the cooperation methodically and simultaneously clearly recognize that the quality and the long-term development of China and Russia regional economic cooperation are also depending on the bilateral cultural ideas, the cooperation approvals and effective institutional arrangements of the two countries. Therefore both countries should increase the cultural exchanges and cooperation, eliminate the unharmonious factors, construct and establish the cooperation mechanism, promote the level of economic cooperation and deepen both countries'strategy partner relations, so that we can create a glorious future of these two countries.