Research On The Growth Effect Of China's Economic Cooperation With The Indo-China Peninsula Countries

China is connected with the mountains of the Indo-China Peninsula and has a long history of economic cooperation.The special geographical location conditions determine that economic cooperation not only has important geopolitical and economic significance for both parties,but also meets the common interests of both parties.The countries of the Indo-China Peninsula are rich in resources and have a large population.The economic cooperation with China is highly complementary and has great potential.Since the mid-1990 s,economic cooperation between the two sides has developed rapidly,and has achieved fruitful results in various fields such as trade,investment,tourism,energy,contracting engineering and labor cooperation.With the continuous expansion and deepening of economic cooperation and exchanges between the two sides,China and the countries of the Indo-China Peninsula also maintained a high rate of economic growth in this period,and economic growth has achieved remarkable achievements.However,after a period of rapid growth,in the context of the downturn in the world economy,the twists and turns in economic globalization,and the growing risks and challenges of international economic cooperation,the Chinese economy has begun to enter the “new normal”,and the economic growth changed from high-speed growth to medium high-speed growth.The countries of the Indo-China Peninsula are affected by the global economic slowdown,and the stamina of economic growth is also obviously insufficient.In order to continuously improve people's living standards,reduce poverty,and reduce the impact of the global economic downturn,China and the Indo-China Peninsula countries are striving to seek new economic growth support to promote sustainable economic growth.In the “one belt and one way” initiative,China clearly proposed the construction of China and Indo-China Peninsula International Economic Cooperation Corridor,with the aim of enhancing the ability to cope with risks and challenges through strengthening international economic cooperation in the region so as to promote sustainable economic growth.So,in the field of economic cooperation between China and the countries of the Indo-China Peninsula,what is the impact of economic cooperation on each other's economic growth? Does it promote economic growth? What is the mechanism of influence? And what kind of economic cooperation can better promote the common growth of China and the countries in the Indo-China Peninsula? It has become a subject worthy of our attention and study.Based on the experience and facts of the economic cooperation and growth between China and the countries in the Indo-China Peninsula,this paper analyzes the growth effect of the economic cooperation between the two sides from the theoretical and empirical aspects,discusses the mechanism of the influence of the international regional economic cooperation on the economic growth,and through the data of China and the countries in the Indo-China Peninsula,respectively,verifies the effect of international economic cooperation promotes the regional whole and the member countries economic growth.Based on this,based on the systematic analysis of the economic cooperation between China and the Indo-China Peninsula countries and the experience of their respective economic growth,this paper explores the mechanism of the impact of economic cooperation on growth through the theoretical analysis of the economic cooperation growth effect,and with the help of empirical analysis.Verification is carried out to propose economic cooperation measures that are conducive to promoting common growth in all countries.First of all,this paper mainly uses the theory of regional economic integration and Romer's endogenous growth theory to construct an analytical framework for the growth effect of economic cooperation among heterogeneous countries.The economic cooperation mainly uses trade and investment cooperation as the carrier,through scale effect and knowledge spillover effects to promote the economic growth of member countries.Secondly,this paper analyzes the impact of trade and investment-based economic cooperation between China and the Indo-China countries on the overall economic growth of the region through measurement methods.The results show that economic cooperation in the region has significantly promoted the overall economic growth of the region.Compared with the economic cooperation between China and the middle and lower income countries in the Indo-China Peninsula,the economic cooperation between China and the middle and lower income countries in the Indo-China Peninsula is more affected by the level of cooperation and facilitation and the level of trade cooperation.Thirdly,under the global framework,the paper analyzes the impacts and contributions of China,the Indo-China countries' import trade,export trade and FDI on the economic growth of each country.The empirical results show that the region's import trade,export trade and FDI are economic for member countries.There are significant differences in the impact of growth;although economic cooperation based on trade and investment has promoted economic growth in most countries,it has not promoted the economic growth of each member country in a balanced manner.The impact and contribution of economic growth are different.Finally,based on the empirical conclusions of the growth effect of China's economic cooperation with the Indo-China Peninsula,combined with the empirical facts and characteristics of economic cooperation and growth between the two sides,it proposes economic cooperation measures that will help China and the Indo-China countries achieve common economic growth.