Source：World Economics and Politics, No. 9, 2024

Abstract：The process of economic integration in the Asia-Pacific region has undergone a transition from institutional scarcity to institutional complexity. In the context of the failure to reach an agreement on trade rules negotiations, the Asia-Pacific region has gradually produced competitive trade arrangements bearing different visions of international order. This phenomenon reflects states' different visions of institutional rules. In the field of international political economy, the uneven development of the international society has shaped two visions of international order: the development-based vision that emphasizes the inclusiveness and flexibility of institutions, and the rule-based vision that emphasizes the progressiveness and restrictiveness of institutions. According to the institutional equilibrium theory, the international institution is a shared belief, and the institutional change of Asia-Pacific economic integration is a process from disequilibrium to re-equilibrium of visions. The coordination of different visions drives the creation or upgrading of institutions; the failure to coordinate different visions will lead to the rigidity of existing institutions and the emergence of new institutional beliefs. The institutional feedback and the struggle among great powers have affected the coordination of visions. Institutional feedback influences the initial stages of institutional change by altering the expectations of visions, while the struggle among great powers shapes the final stages of institutional change by influencing the coordination of different visions. The generation and change of institutions or institutional frameworks such as APEC, TPP/CPTPP, and RCEP have tested the above hypotheses.

Key Words: Asia-Pacific economic integration, institutional change, institutional equilibrium theory, visions of order, institutional feedback