Abstract
With the rise and further opening of the Chinese economy, China is playing an increasingly important role in East Asia. China has become a major trade partner for East Asian economies and China’s trade deficits with most East Asian economies are expanding. East Asian economies, by closer economic cooperation with China, can benefit more from this change of trade pattern in East Asia. The China-ASEAN FTA is an example for realizing a win-win outcome in regional economic cooperation. This FTA is beneficial to both China and ASEAN nations, and will not have many adverse effects on other East Asian economies as some studies have estimated.
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