The Impact of the Aggravation of the US-China Contradictions on the Eurasian Economic Integration
The article discusses a number of issues related to the concept of “international economic integration” (IEI), the real status of IEI in Eurasia and the Asia-Pacific, directions of the US-Chinese rivalry and mainly – trade frictions between the two countries. The Reasons for China's entry int...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Russian Academy of Sciences, Institute of China and Contemporary Asia (ICCA RAS)
2021-12-01
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| Series: | Восточная Азия: факты и аналитика |
| Subjects: | |
| Online Access: | http://eastasiareview.ru/wp-content/uploads/2021/ea_2021_4_19-35.pdf |
| _version_ | 1818506814425137152 |
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| author | Safronova E.I. Frolenkov V.S. |
| author_facet | Safronova E.I. Frolenkov V.S. |
| author_sort | Safronova E.I. |
| collection | DOAJ |
| description | The article discusses a number of issues related to the concept of “international economic
integration” (IEI), the real status of IEI in Eurasia and the Asia-Pacific, directions of the US-Chinese rivalry
and mainly – trade frictions between the two countries. The Reasons for China's entry into the Regional
Comprehensive Economic Partnership (RCEP) and the probable impact of RCEP on the international
positions of the PRC and the United States in the near future are also analyzed. The authors note that the
conflict between the US and China is capable of exerting both an inhibitory and a stimulating effect on the
integration processes in Eurasia, and throughout the AP as well. The positive impact of the conflict for the
PRC is in the fact that the Celestial Empire has been impelled to seriously engage in its own technological
independence. The American policy of excommunicating China from high knowledge, on the one hand, and deliberate separation of the PRC from the American technological “field" on the other, ultimately contribute to China’s emergence as a self-sufficient world technological center. China is no longer satisfied with the function of a “world factory”. The great power has set its sights on a new role.
The negative impact of the conflict on both the PRC and the United States is in the fact that it sharply
limits trade benefits of the parties, reduces volume of mutual investment and the exchange of knowledge and personnel as well. The parties, having embarked on the path of mutual technological isolation, can
inadvertently narrow down global technological competition, which will slow down overall technological
progress (but will “spur” economic espionage). In addition, further exacerbation of the Sino-US trade
conflict may lead to capital flight from Central Asian and other “emerging” markets involved in the chains of Sino-US economic relations. As a result, regional and even global economic development can suffer and, consequently, international economic integration can suffer as well. In general, the conflict and the US withdrawal from the Trans-Pacific Partnership (TPP) have prompted China to take control of the integration process in the AP (by joining the RCEP, in particular). |
| first_indexed | 2024-12-10T22:09:43Z |
| format | Article |
| id | doaj.art-8c7fc9f013794b9c9c4062a4a604fc68 |
| institution | Directory Open Access Journal |
| issn | 2686-7702 |
| language | English |
| last_indexed | 2024-12-10T22:09:43Z |
| publishDate | 2021-12-01 |
| publisher | Russian Academy of Sciences, Institute of China and Contemporary Asia (ICCA RAS) |
| record_format | Article |
| series | Восточная Азия: факты и аналитика |
| spelling | doaj.art-8c7fc9f013794b9c9c4062a4a604fc682022-12-22T01:31:38ZengRussian Academy of Sciences, Institute of China and Contemporary Asia (ICCA RAS)Восточная Азия: факты и аналитика2686-77022021-12-012021/410.24412/2686-7702-2021-4-19-35The Impact of the Aggravation of the US-China Contradictions on the Eurasian Economic IntegrationSafronova E.I.0https://orcid.org/0000-0002-4256-2381Frolenkov V.S.1Institute of Far Eastern Studies of the Russian Academy of Sciences Federal Tax Service of RussiaThe article discusses a number of issues related to the concept of “international economic integration” (IEI), the real status of IEI in Eurasia and the Asia-Pacific, directions of the US-Chinese rivalry and mainly – trade frictions between the two countries. The Reasons for China's entry into the Regional Comprehensive Economic Partnership (RCEP) and the probable impact of RCEP on the international positions of the PRC and the United States in the near future are also analyzed. The authors note that the conflict between the US and China is capable of exerting both an inhibitory and a stimulating effect on the integration processes in Eurasia, and throughout the AP as well. The positive impact of the conflict for the PRC is in the fact that the Celestial Empire has been impelled to seriously engage in its own technological independence. The American policy of excommunicating China from high knowledge, on the one hand, and deliberate separation of the PRC from the American technological “field" on the other, ultimately contribute to China’s emergence as a self-sufficient world technological center. China is no longer satisfied with the function of a “world factory”. The great power has set its sights on a new role. The negative impact of the conflict on both the PRC and the United States is in the fact that it sharply limits trade benefits of the parties, reduces volume of mutual investment and the exchange of knowledge and personnel as well. The parties, having embarked on the path of mutual technological isolation, can inadvertently narrow down global technological competition, which will slow down overall technological progress (but will “spur” economic espionage). In addition, further exacerbation of the Sino-US trade conflict may lead to capital flight from Central Asian and other “emerging” markets involved in the chains of Sino-US economic relations. As a result, regional and even global economic development can suffer and, consequently, international economic integration can suffer as well. In general, the conflict and the US withdrawal from the Trans-Pacific Partnership (TPP) have prompted China to take control of the integration process in the AP (by joining the RCEP, in particular). http://eastasiareview.ru/wp-content/uploads/2021/ea_2021_4_19-35.pdfchinausarussianeurasian economic union (eaeu)rcepieitrade and economic conflictinternational integration |
| spellingShingle | Safronova E.I. Frolenkov V.S. The Impact of the Aggravation of the US-China Contradictions on the Eurasian Economic Integration Восточная Азия: факты и аналитика china usa russian eurasian economic union (eaeu) rcep iei trade and economic conflict international integration |
| title | The Impact of the Aggravation of the US-China Contradictions on the Eurasian Economic Integration |
| title_full | The Impact of the Aggravation of the US-China Contradictions on the Eurasian Economic Integration |
| title_fullStr | The Impact of the Aggravation of the US-China Contradictions on the Eurasian Economic Integration |
| title_full_unstemmed | The Impact of the Aggravation of the US-China Contradictions on the Eurasian Economic Integration |
| title_short | The Impact of the Aggravation of the US-China Contradictions on the Eurasian Economic Integration |
| title_sort | impact of the aggravation of the us china contradictions on the eurasian economic integration |
| topic | china usa russian eurasian economic union (eaeu) rcep iei trade and economic conflict international integration |
| url | http://eastasiareview.ru/wp-content/uploads/2021/ea_2021_4_19-35.pdf |
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