Complementarity Competition Theory

Author: Liu Guangxi
Publisher:
Publish Date: 2006-01-01
Features: "The Theory of Complementary Competition—Regional Groups and the Multilateral Trading System" is the result of the author's long-term work and reflections in China's/ negotiations. Starting from the legal rules of the General Agreement on Tariffs and Trade (GATT) regarding regional groups, it studies the recent new developments in regional groupings. From both theoretical and practical perspectives, and with a dynamic approach, it elaborates on the relationship between the multilateral trading system and regional groupings. In "The Theory of Complementary Competition—Regional Groups and the Multilateral Trading System," the author proposes the concept of "complementary competition." This viewpoint not only holds significant theoretical value but also has important practical implications for formulating policies on participation in the multilateral trading system and regional economic cooperation. The theory of "complementary competition" can be seen as a positive perspective, as well as a realistic choice. Adhering to an open regionalism stance and achieving gradual liberalization of regional trade and investment through extensive regional economic and trade cooperation may be a necessary step toward global trade and investment liberalization. This is no longer just an economic theory issue; it has become an unavoidable reality in the process of global economic integration.