A Study On Economic Diplomacy Between China And Its Neighboring Countries

Compared with Japan, European countries and United States, China’s theoriesand practices on economic diplomacy were initiated much later. As economicglobalization deepens today, the international competitions have become increasinglyintense. All of the countries around the world compete in different fields in order toprotect their own interests and realize the external strategic aims. Neighboringdiplomacy has always been a key link in China’s strategic layout, and neighboringeconomic diplomacy has gradually stretched from restricted field to a larger share,with strategic orientation becoming increasingly practical. In general, China adoptedthree approaches to maintain economic relations with neighboring countries includingeconomic assistance, economic cooperation and economic sanctions. Affected by theinternational financial crisis, China has double its efforts to develop the economicdiplomatic relations with these countries. Therefore, in face of opportunities as well aschallenges around neighborhood, China should adjust its regional and economicstrategies, maintain the order of economic security, deepen the overall economiccooperation with neighboring countries in the fields of trade, investment, free tradezone development, financial sector and external assistance, and respond collectivelyto challenges.