Regional Economic Integration Challenges Of The Wto Multilateral Trading System

In continuing to pursue the global trade integration, we note there are two parallel trends of development, the rapid development of regional economic integration and the hard forward of the multilateral trading system. Regional economic integration is a new phenonmenon of world's trade and economic development, WTO members have joined more than one regional economic organization. Compared with the global economic integration, regional economic integration is only a sub-opitmal, but today with difficulties in the development of the global multilateral trade, the sudden emergence of regional economic integration provides a new thinking to achieve global economic integration.Many researchers do lots of work on regional economic integration promoting the multilateral trading system development process, there is no the conclusions of the theoretical framework. Therefore, this issue continues to conduct in-depth discussion of important theoretical and practical significance.Regional economic integration has brought the growth of mutual trade within the region, the international division of labor and cooperation intensified production, optimizing the allocation of resources, increasing production of factor incomes, these factors will ultimately facilitate the common development of member state. EU, ASEAN, NAFTA, APEC economic integration organizations shown the specific examples. In recent years, the bilateral FTA challenged the WTO's multilateral trading system.The paper focus on research regional economic integration for nearly 20 years, from the theory of regional economic integration to study the development of regional economic integration challenging the WTO multilateral free trade system of the basic principles, the purpose is to analyse the advantage of regional economic integration, especially bilateral trade agreements for promoting economic development. Bilateral FTA with a new attitude on the global free trade arena, becoming one of the most remarkable phenomena. This paper analyzes the bilateral FTA how to challenge the multilateral trading system. The challenges include:challenge the MFN principle, affect the function of WTO trade liberalization; challenge WTO multilateral free trade goals; challenge process of WTO multilateral free trade.Finally, give constructive suggestions on participation of regional economic developement based on Chinese conditons. China should have a clear development strategy to serve the overall interests of the country, based on targeted work for free trade agreements negotiated and signed. Major trading partners should be the focus of development; pay attention to FTA of resources exporting; create a stable and harmonious international environment by regional arrangements; carry out the strategy of trade facilitation priority.