Comprehensive Regional Economic Partnership as a Mechanism of China's Integration into World Economic Processes

Abstract

In this article, the author analyzes the impact of RCEP on the process of China's integration into world economic processes. The regional multilateral format of economic relations is a relatively new experience for China, therefore, the author considers China's participation in the RCEP as a possible beginning of a new stage in the implementation of not only regional, but also global ambitions of China. Recently, China has begun to integrate more actively into world economic processes, while putting forward its own initiatives for interaction in a multilateral order, for example, the Belt and Road Initiative. In addition, China is beginning to assert itself in already existing economic associations, for example, within the framework of the RCEP. However, in this case, China faces a number of problems, one of which is the presence of two competitive powers in the Asia-Pacific region: the US and Japan. Due to economic competition with China, both powers benefit from the policy of curbing the growth of China's influence in the region. In addition, today China has a very modest experience of participating in regional multilateral formats, largely due to the priority of the bilateral format of cooperation in China's foreign policy. The author comes to the conclusion that, claiming today to realize their global ambitions, the Chinese leadership is aware of the importance and necessity of the country's more active participation in regional integration processes.