To Promote the Sustainable Development of Regional Economies in South Asia by Enhancing Economic Cooperation of the Pan-Red River Basin

Abstract

In the significant trend of economic globalization, the regional competence becomes increasingly fierce. China and Southeast Asia are inevitably involved in this competition. In framework of China-ASEAN Free Trade Area, the Pan-Red River basin is the complement and expansion of it. The Red River mainly flows through China, Vietnam and Laos, especially China and Vietnam. The concept of the Pan-Red River basin plays an important role under the new situation. The overall stable political and economical situation, the complement of industrial resources, the improvement of transportation conditions and the further development of regional cooperation all provide certain foundations and conditions for accelerating the development of the Pan-Red River basin. In order to achieve the development of the Pan-Red River basin, developing consensus should be reached, regional factors flow and industrial upgrading and transfer should be achieved, transportation advantage should be played, the logistics centers of China and Vietnam should be built, multipolar regional development impetus should be achieved, and the port construction and border regional cooperation zone should also be built and strengthened.