Discussing The Impacting Factors Of Sino-Korean Economic Relations

Sino-Korean economic relations developed rapidly from 1979 to 2001. In the fields of bilateral trade, personal investment and industrial cooperation, the two countries shared eye-catching achievements.Many advantageous factors promoted the rapid development of Sino-Korean economic relations. Politically, the detente of Northeast Asia's situation offered good exterior condition for Sino-Korean economic relations. China's confident independent peaceful foreign policy and Korea's "Northern Policy" offered the most fundamental premise. Establishment of diplomatic relations between the two countries and their leaders' high attaching great importance to the economic relations of the two countries offered political guarantee. Economically, the change of world's economic environment and the domestic economic environment of the two countries offered external opportunity and inherent power. China and Korea's economic development strategies promoted the development of economic relations between the two countries. The rapid development of China and Korea's economies offered continuous material power. The achievements of Sino-Korean economic relations laid good base for further development of the two countries' economic relations. The economic complementation of both countries was the most essential factor. Besides these favorably political economic factors, the two countries are close neighbors, have similar culture and long history of friendship. All these factors were good for developing Sino-Korean economic relations.All above advantageous factors accelerated the rapid development of Sino-Korean economic relations. But, there were many unfavorable factors in the development of Sino-Korean economic relations. Politically, the hidden dangers of northeast Asia's security were bad to maintain good external environment, which was necessary for development of Sino-Korean economic relations. In some degree, U.S. and North Korea deliberately restricted the development of the two countries' economic relations. Economically, many problems grievously affected the healthy development of the twocountries' economic relations. The Financial Crisis of Korea had some negative affects too. There were also some unfavorable historical, cultural factors, the Cold War led to complete estrangement between the two countries, which became a barrier to the development of Sino-Korean economic relations. Some cultural differences of the two countries and the existence of ultra-nationalism in the two countries had negative affect too.In a word, of all impacting factors, the advantageous are the main stream, are the main aspect of the issue. All advantageous factors impacted each other. They promoted the development of Sino-Korean economic relations. The unfavorable are the minor stream, are the minor aspect of the issue. Many unfavorable factors restricted the smooth development of the two countries' economic relations. That China joined WTO in 2001 became the new advantageous factor, opening the broader prospect for the development of Sino-Korean economic relations.