| There are three outstanding features in current global economy: the rapid expansion in the scale of international trade, the swift development in the direct multinational investment, and the accelerating circulation of the major global resources. Therefore, it is a rational choice for different countries to strengthen international economic cooperation in order to adapt to the globalization trend in economic development. At present, NAFTA (North American Free Trade Agreement) and EU (European Union) are two successful examples of the regional economic cooperation. And China, too, has actively participated in the global and regional economic cooperation in succession, such as the "First Agreement on Trade Negotiations among Developing Member Countries of the Economic and Social Commission for Asian and the Pacific", CAFTA (China-ASEAN Free Trade Area), APEC (Asia-Pacific Economic Cooperation), SCO (Shanghai Cooperation Organization), and the Northeast Asian Cooperation, etc.Regional economic cooperation is a meaningful approach to cooperation based on the industrial and regional economy. In a sense it is the product and thruster of the globalization. The accelerating regional economic cooperation objectively promotes the globalization of those required in economic development such as funds, techniques, information, talents, resources, and market and so on, and makes different regions adjust the marketization trend to their economy development and eventually fastens the market distribution of production factors. As the economic globalization quickens its pace, the regional economic cooperation in the northeast Asian countries based on their neighborhood is gradually strengthened, especially the communication and cooperation among China, Korea and Japan is closer. The economy in these three countries is complementary to each other, so the regional economic cooperation will positively influence the economic development in them, even in Asia and the whole world.Situated at the very east of Shangtung Peninsula and the bridgehead site in the Delta of China, Japan, Korea, and Yellow Sea, Weihai, the nearest city to Korea in China, has apparent advantages in the economic cooperation with Korea. Meanwhile, because of its limitation in small market, insufficient resources and deficient comparative advantage, Weihai must strengthen the regional economic cooperation to better display its strong points while avoid its weaknesses if it wants to find a foothold in the fiercely-contested world.This essay analyzes Weihai and Korea respectively from their economic characteristics, current situation and especially the opportunities and challenges in their economic cooperation. And this essay, in the long term, also proposes the strategic construction and the corresponding executing policy in Weihai-Korea regional economic cooperation.The significance of this essay lies in the analysis from the reality of Weihai on how Weihai can find out its advantages and disadvantages compared with other cities in the globalization trend. And it also has practical meaning on Weihai's economic development in the globalization trend, regional economic cooperation trend, and the economic cooperation with Korea, and on how Weihai can remain invincible in the fierce economic competition. Besides, the strategic construction and the performing policy is instructive for the establishment of the local economic development policy.This essay involves five parts. Part One is about the theoretical background as well as the definition concerning regional economic cooperation. Part Two analyzes the current situation in the economic cooperation between Weihai and Korea, and introduces the economic profile in two countries. Part Three gives a SWOT analysis of Weihai-Korea economic cooperation: Weihai's advantage in the cooperation, on the one hand, from the aspects of zone bit, resources and circumstances, economy and techniques, technology and people; and Weihai's disadvantage, on the other hand, from the respects of comparative advantage, industrial aggregation, resources, labor force, and financial circumstance; and finally of the opportunities and challenges ahead of Weihai-Korea economic cooperation from the viewpoints of national and international circumstances. Part Four proposes the strategic construction of Weihai-Korea economic cooperation from the aspects of the choice of cooperation patterns and cooperation fields. Part Five puts forward some feasible policies to carry out the strategic construction in terms of all-wave opening strategy, optimizing environment, creating cooperation platform, and supplying cooperation support. |
