On The Construction And Prospect Of China - Asean Free Trade Area

Globalization and Integration currently remain two main trends ofthe world economy. Integration of the regional economy has broughtabout many effects, such as trade creativity and trade diversion etc.Compared with EU and NAFTA, the Integration of economy in East Asialags behind obviously. During recent years, together with the reinforcedcooperation with ASEAN, Chinese government put forward the schemeto construct China-ASEAN free trade area, to which ASEAN countriesresponded actively. Despite many advantages, there are still someconstraints in the construction of CAFTA. The construction of CAFTA,on the one hand, is bound to be a win-win choice, on the other hand, itwill contribute to the regional economic cooperation in East Asia. So farChina and ASEAN have officially signed up the framework agreement onthe overall economic cooperation, the effect of which has resulted in thesubstantial development. We must attempt to push forward theconstruction of CAFTA by exploring effective approaches .Theestablishment of CAFTA will surely reinforce the regional economiccooperation in East Asia and will further enable China to blend into theintegration of world economy enthusiastically. On the basis of aboveanalysis, the author puts forward some thoughts and suggestions.