An Analysis of Lancang-Mekong Cooperation Mechanism in China's Neighboring Diplomacy

The Indochina Peninsula is of special and important significance to China’s geopolitical strategy, which is the foothold of China’s strategy in Southeast Asia and even the whole Asia-Pacific region, as well as the strategic springboard of China’s global development. In 2016, China led the establishment of the Lancang-Mekong Cooperation mechanism, and achieved remarkable results in terms of institutional development, project implementation and the construction of international relations among member states in the short term. The establishment and rapid development of the Lancang-Mekong Cooperation is based on member states’ strong willingness to cooperate. It also benefits from the rational design of their institutional structures, geographical advantages, strong and complementary economies, and close sociocultural similarities. On the other hand, the further development of the LancangMekong Cooperation is facing many risks and challenges as a result of the complexities of the internal environment of the Indochina Peninsula and the geopolitical competition of extraterritorial forces in the region. In this regard,China should make more efforts to improve relevant institutional arrangements for the Lancang-Mekong Cooperation, broaden the areas and enrich the content of cooperation, coordinate with extraterritorial forces and increase the number of stakeholders.