Characteristics Of International Economic Integration In The Post - Global Financial Crisis And China 's Countermeasures

The major developed economies are deploying a new strategy of internationaleconomic integration to deal with world economic reconstruction in post-crisis era.Developing countries are also taking actions in order to seize the opportunity toenhance their international status. In the new context of international economicintegration, FTAs with great international influence are emerging. The idea ofinternational economic integration dominated by major countries and country groupsare becoming reality.The international economic integration in post-crisis era can be described byfollowing features: FTA is featured by a gridding distribution of developingcountries, in which the status of core countries are greatly highlighted; thedevelopment of international economic integration organizations appear to be oflarge-scale; the development of integration remains mainly in FTA level; greatpowers in the world are competing in the economic integration of Asian-Pacificregion; the content of FTA are covering a wider range and establishing a highercriteria for negotiation; sensitive issues are hindering the negotiation process; andstrategic value of FTA is higher than its economic value.Considering the complicated international situation and the fact that China needs adeeper economic reform, the paper makes following policy suggestion on China’sparticipation in international economic integration: improve China’s domesticindustrial upgrade by deepening the reform to support international regional economicintegration; expand the range of FTA negotiations to raise the level of China’sparticipation; make plans to cope with the potential strict criteria of FTA negotiations;and emphasize the development of integration of Asian-Pacific region and build up aFTA network with China as its core.