Sino-American Rivalry in the Context of Asia-Pacific Economic Regionalism

Abstract

The rise of Asian regionalism and Sino-American rivalry are determining trends in the Asia-Pacific region. Asian economic indicators remain stable and growing even during the severe global crisis of 2008 and have become more and more comparable to those of developed countries. The current trend creates a basis for Asian states to concentrate on domestic needs for development rather than export orientation, which leads to a new model of cooperation in the region. China’s growing assertiveness in international affairs and the US ‘Pivot to Asia’ have triggered confrontation and tensions which have negative effects on economic cooperation boosted by Asian regionalism and influence its institutional framework. Sino-American rivalry is also provoking a power shift which is reshaping the relations between all the regional actors. This article analyses Asian regionalism and Sino-American rivalry as two objective processes in the Asia-Pacific region and shows their effects on regional development using the examples of TPP and RCEP initiatives.