Regional Economic Integration Trends In Japan And South Korea Trade And Economic Relations,

Any of the individual in political and economic world must take full account of global flow and distribution of elements and goods as well as perfection of organization and function of regional economic integration. As the third largest country in total economic output all the world, the relation of China and world economy have shown a trend of the deep development. South Korea and Japan are China's important economic and trade partners, so the economic and trade relations among the three parties are significant.Based on the background of regional economic integration, this paper uses deductive and empirical method to discuss trade and economic relations of the three countries, and explains the trade and economic complementarities and differences of the three countries by the way of the SWOT analysis and related theoretical tools, moreover analyzes the economic complementarities and cooperation of the three countries' economy as the aspect of trade, investment, finance, energy, science and technology fields, and demonstrates that the three countries will achieve a two-win situation in the form of a free trade zone for the development of economic and trade relations.The economic and trade development of China, Japan and South Korea has its foundation, and the three countries have many common interests and areas of cooperation in the areas of bilateral trade, direct investment and technical cooperation. In addition, there is potential space for three countries' cooperation, such as in the financial and currency cooperation. However, discussing the process of the economic integration of the Northeast Asia and the mutual influence on the economic and trade relations of three countries under the background of globalization and the international regional economic integration, the economic and trade relations of three countries also face many constraints, such as industrial division imbalances, trade imbalances, trade barriers, the increasingly fierce competition in some areas products in the overseas market, the territorial and historical issues and so on.In various ways of the development of international economic and trade relations, free trade zone is more suitable and ideal choice for regional economic integration. Because of the increasingly frequent economic and trade exchanges of three countries, trade increment year by year and industry highly complementary, the establishment of a China-Japan-South Korea Free Trade Zone has feasibility. Based on international free trade zone major models, such as the European Economic Community and the North American Free Trade Area, the paper attempt to put forward a specific framework for the free trade zone of China-Japan-South Korea, and proposes the two stages for construction of a free trade zone of the three countries: first, the establishment of a transitional structure: three countries first formed into a free trade agreement, industry cooperation, customs union and other transitional structure, second, in the construction of China-Japan-South Korea FTA; the completion of economic and trade relations of three countries formed transition framework, they can build a free trade zone negotiations, consultations and the opportunity set in Northeast Asia common market, so as to create the best interests of all parties.