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ASEAN-China Economic Relations

Saw Swee-Hock

Publication Year: 2006

This book, a project of the ASEAN-China Study Programme of ISEAS, is designed to deal with the rapidly expanding economic relations between ASEAN and China in recent years. The fifteen chapters discuss in considerable detail these relations in terms of many important topics such as trade, the ASEAN-China Free Trade Agreement (ACFTA), investments, services trade, energy cooperation, cooperation in developing the Mekong Sub-region, China’s aid to Southeast Asian countries, developing stronger business networks, and the political dimensions of China’s economic relations with ASEAN. The economic challenges, competition, and opportunities in the various sectors of the two economies are examined in the context of the dynamic development of China, and the inevitable globalization taking place nowadays. The book, with contributions from experts in the various topics covered, will be invaluable to businessmen, analysts, academics, students, and policy-makers.

Published by: Institute of Southeast Asian Studies

Title Page, Copyright Page

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Table of Contents

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pp. v-vi

The Contributors

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pp. vii-xi

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Preface

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pp. xiii-xiv

Under the ASEAN-China Study Programme launched in 2003, the Institute of Southeast Asian Studies (ISEAS) organized the ASEAN-China Forum: Realities and Prospects on 23–24 June 2004. From this forum, a book entitled ASEAN-China Relations: Realities and Prospects edited by Saw Swee-Hock, Sheng...

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1. ASEAN-China Economic Relations: A Review

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pp. 1-11

The China phenomenon hardly needs any introduction, except that it is amazingly unabated, growing from strength to strength economically, politically, even socio-culturally. In time to come, some technological breakthrough may happen. By its geographical proximity and historical ties,...

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2. China’s Economy in Search of New Development Strategies

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pp. 12-31

China’s economy in 2005 registered another year of surging growth, with its total GDP (based on recent revision) expanding at 9.9 per cent to reach 18.23 trillion yuan (or US$2.26 trillion).1 Growth in 2005 was just marginally lower than the 10.1 per cent of 2004. In fact, China’s economy since 2001,...

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3. ASEAN in Introspect and Retrospect

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pp. 32-49

There is extant literature on the Association of South East Asian Nations (ASEAN-10).1 ASEAN’s continued success as a group of developing countries seems to be by default. It had the right initial conditions internally and externally, galvanized by good leadership, relative to the speed and record of...

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4. Developing Stronger Business Networks between ASEAN and China

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pp. 50-66

Business dynamics determines the pace of connectivity of and impacts on the relative wealth and influence of the state. Multinational corporations (MNCs) are major transaction agents of the global business process. For the past decade or so, MNCs have figured prominently in China’s remarkable...

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5. ASEAN-China Trade Relations: Origins, Progress and Prospect

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pp. 67-85

The advance of industrialization in China and its continuously high economic growth have attracted worldwide attention. The entry into the WTO in 2001 has brought China into a new era of development. As a large country in East Asia, China has played an increasingly important role in the region’s economic...

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6. ASEAN-China Free Trade Agreement: Negotiation, Implementation and Prospect

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pp. 86-111

FTA is the abbreviation for Free Trade Agreement or Free Trade Area when it is referred to regional cooperation, and it is more popularly used than PTA (preferential trade agreement) or RTA (regional trading agreement). FTA can be seen as a part of the WTO system for free trade and comprehensive...

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7. ASEAN-China Free Trade Agreement: Legal and Institutional Aspects

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pp. 112-145

There have been, arguably, too many regional free trade agreements (hereinafter “FTAs” or “RTAs”) in Asia.1 The ASEAN-China Free Trade Agreement (“ACFTA”), albeit only half materialized, is certainly one of those that have caught most of the attention. There is a growing body of literature on the...

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8. ASEAN-China Economic Relations: Moving Towards Services

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pp. 146-165

A discernable move towards greater services trade and investment on a global scale has been detected in the past decade. Increasingly, ASEAN1 and China are beginning to recognize the pivotal role that services could play. The ASEAN Framework Agreement on Services (AFAS) and China’s...

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9. ASEAN-China Financial Cooperation in the Asian Bond Market

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pp. 166-202

The Asian financial crisis can be characterized by “double mismatch”, overreliance on banks, quick reversal of capital flow, as well as weak corporate governance and poor regulatory quality. In particular, short-term debt financing long-term project and excessive borrowing abroad demonstrate the systemic...

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10. ASEAN-China Investment Cooperation: Status and Prospects

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pp. 203-225

There are certainly some risks and costs associated with the current initiatives to bring about greater trade liberalization between China and the ASEAN countries within the framework of the WTO and regionalism. But the high level of commitment demonstrated by both parties for the establishment of...

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11. ASEAN-China Energy Cooperation

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pp. 226-249

While there are varying opinions about the quantity of remaining, easily accessible fossil fuels — oil, gas and coal — on the planet, there seems to be agreement that the price of oil will remain high, that oil production facilities and transport will increasingly be the focus of terrorist activities and that the...

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12. China’s Aid to Southeast Asia

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pp. 250-268

By any criteria, China is a developing country. Nevertheless, China’s international aid programme appears to be significant. It has been giving aid ever since the early 1950s. Since then, the amount and scope of China’s aid has increased many times.1 Aid programmes generally carry a country’s major...

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13. China and CLMV Countries: Relations in the Context of the Mekong Sub-region

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pp. 269-294

The Mekong River, the twelfth largest river in the world, is 4,990 kilometres long. Its source is in the Tibetan mountains and it passes through the southwestern part of the People’s Republic of China in Yunnan and Guangxe provinces, Myanmar, Laos, Thailand, Cambodia, Vietnam and then flows...

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14. China’s Economic Relations with ASEAN: Developments and Strategic Implications

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pp. 295-317

China for the first time officially recognized the ASEAN grouping in 1975 after China was admitted into the United Nations in 1971, and ASEAN member states started to switch their diplomatic recognition from the Republic of China (ROC) to the People’s Republic of China (PRC). The official...

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15. Strategic Dimension of ASEAN-China Economic Relations

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pp. 318-338

ASEAN-China relations appear to be successfully entering a new phase, as both sides emphasize a mutually-enriching relationship. Of particular importance are China’s reduction of its “threat” to its southern neighbours, as well as its “soft power” projection, so as to stabilize the region, before...

Bibliography

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pp. 339-357

Index

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pp. 359-375


E-ISBN-13: 9789812306562
Print-ISBN-13: 9789812304223

Page Count: 376
Publication Year: 2006

Edition: 1