The Construction of International Trade Dispute Settlement Mechanism in the Context of RCEP and China's Positioning

Abstract

With the regional economic integration and economic globalization, RCEP was enacted and entered into force, and its dispute settlement mechanism provides a more efficient and convenient way and platform for FTA members to resolve trade frictions against the background of WTO dispute settlement mechanism's difficulties. The paper adopts the research methods of textual analysis and comparative analysis and concludes that the RCEP dispute settlement mechanism adopts a hybrid model with more comprehensive provisions in terms of basic settings and procedural construction; compared with the WTO dispute settlement mechanism, RCEP has obvious advantages in terms of autonomy, timeliness and fairness. Meanwhile, the paper proposes that China, as an important member of RCEP, should further strengthen Asia-Pacific region's economic and trade corporation in the process of building an open, free and rule-based multilateral trading system to help the construction of "One Belt, One Road" and enhance China's influence and discourse power as a practitioner.