A Comparative Study of Trade in Services between China-ASEAN and Korea-ASEAN
|School||Dongbei University of Finance|
|Keywords||trade in services China-ASEAN South Korea-ASEAN the status quo the system liberalization development comparison|
With the development of the social productive forces and the global economy, service industries gradually separated from the production industry to be a independent part. Service industry has played more and more important role in national economy of all countries and become a significant component of GDP. As the service offerings are basically invisible, and thus in a very long period of time they have been regarded as non-tradable goods. However, with the development of service industry, the progress of economic globalization, the expansion of the internet and other new tools, services trade has become increasingly important aspect in international trade aspect. After the 1970s, international trade development has entered a new stage. Service industry and trade won increasing attention in the field of international trade for their tremendous contributions to the world economy. The proportion of goods in international trade is declining, on the contract, that of services is gradually increasing, so the competition focus of the world has shifted from goods to services. The degree of development of services trade has become a important indicator to measure international competitiveness, which is on behalf of rise and fall of its foreign trade. Therefore, how to better promote the development of service trade has become an important issue of the world.On the one hand international trade in services developed rapidly, on the other hand the partnership between China and ASEAN steadily forward. Since the 1990s, China and ASEAN are not only remaining respectfully and supportably close relationship with each other, but also deepening their cooperation in the economic field. Both sides are mutually committed to free trade zone development, and service trade become an essential element of free trade cooperation between two regions. As the international regional economic integration to speed up, China and ASEAN also accelerate the pace to develop trade in services between the two sides. January 14,2007, Chinese Premier Wen Jiabao signed the China-ASEAN Free Trade Area "Trade in Services Agreement" when he attended the tenth meeting of the leaders of China and ASEAN, which marks the development of China-ASEAN trade in services takes a crucial step forward, also lay a more solid foundation for comprehensively building a free trade zone. China-ASEAN Free Trade Area was established in 2010, which has provided an opportunity to the development of China-ASEAN services trade. At this critical moment, it is an urgent issue how to grasp this opportunity, to make the same step with the rapid development of international services trade, to seek optimize pattern of trade between the two sides and to enhance international competitiveness and absolute advantage of our products,South Korea, as a close neighbor of China, has created a world-famous "Han River Miracle" to achieve economic modernization take-off. It is no doubt that South Korea has achievements in some area in service industry and trade, though his service sectors developed unbalanced so far. The transport of South Korea has a high international competitiveness, even ahead of world rankings of the United States, Germany, Japan and other veteran transport power. After Southeast Asian crisis, the Korean governments strengthen financial sector reform, so that financial sector has been rapidly developed and even been the main source of surplus in services trade. Information services and modern logistics industry is also growing rapidly, and effectively promoted the growth of trade in services. Similarly, as an important participant in national trade, China is similar with South Korea for a low development with a late starting point and a small base, still being in its early stages. Overall, the proportion of foreign trade in knowledge-intensive service sector in South Korea is higher than that in China. Thus, the study and summarize advanced development experience of Korean trade in services, not only beneficial for the Chinese government to provide basis for the formulation of macroeconomic policies and help to guide the development of Chinese service trade, but also help to improve foreign trade credits and enhance our comprehensive national strength and international competitiveness. In short, it is a certain practical significance for current development of service trade in China.This study compares the development of China-ASEAN services trade with that of Korea-ASEAN, and then points out the similarities and differences between the two on current development situation, service trade system and the latest development cooperation respectively. This paper aims to identify the shortcomings of our development by comparison, and better promote our service trade development by learning South Korea’s successful experience.