Research On Asia - Pacific Economic Integration Under The "One Way" Initiative

The members of Asia-Pacific region have been into the new era of developing since World War II ended in the last century. As the center of political, economic and cultural engine for the world in 21 st century, economic integration of Asia-Pacific region follows the main trend of developing and core interest of regional nations.There are some “mega-regional” trade agreements for the integration such as the United States-led Trans-Pacific Partnership, the ASEAN-led Regional Comprehensive Economic Partnership and the APEC-led Free Trade Area of the Asia-Pacific. And the new initiative “The Belt and Road” from China is likely to bring energetic power into regional economic integration progress. However, there still exist many obstacles of integration in many fields. And some nations have misunderstandings and distrusts towards The Belt and Road.This paper reviews the history of economic integration in Asian Pacific region and feasible choices of mega-regional trade agreements, exploring the existing economic integration problems and their inherent reasons, studying the potential benefits from The Belt and Road for regional integration. The Belt and Road’s comprehensive and mutual-beneficial practices will improve Asia-Pacific economic developments and corporations. And its spirit of “a community of common destiny”will help establish the common identity for Asia-Pacific members. Therefore, it might be an important method to form the final mega regional trade agreement in Asia-Pacific. Only if all the members of Asia-Pacific take joint action would it be possible to achieve the economic integration and regional prosperity.