China’s New Economic Model as a Mark of Re-globalization

Abstract

After the end of Cold War, China has progressively started its trade competition among top developedstates such as USA, Japan, Russia and Europe states in the world. Especially, since joining to theWTO in 2001, China has reached the global trade prominence in the market economy. However, therecent outbreak of Covid-19 pandemic has seriously knocked the most countries’ economic sector, andChinese economic ties and budget trade relationship in the world has also shown considerable reduction.On this point, China’s own strategic policy and measure could, in a short time, effectively overcomethe spreading virus and surprisingly captured world attention how to survive in such pandemicsituation due to Xi Jinping strict administrative policy. In addition, Chinese massive effort for recoveringits economy and further strategic plan for the creation of a new trade area has remarkably resulted inthe region. Consequently, the signing another new trade agreement known as Regional ComprehensiveEconomic Partnership (RCEP) has created a new wave of trade relations as well as integration process notonly in one region but involves European trade partners as New Zealand and Australian trade interests.As a result, Chinese reshaping its trade interest with RCEP members might consider as most leading competitivecountries in the Asian region which has signaled as a new drive of market economy as well as theprocess of re-globalization. In this article, authors identify to what extent the Chinese current economicpolicy changes the globalization process in the Asia-Pacific region. Also, how China will affect the newintegration zone and lead to the process of so-called re-globalization. Key words: China, globalization, geo-economic, Asia-Pacific region, cooperation, integration, ASEAN,Re-globalization.