| ID | 125042 |
| Title Proper | Development in China's foreign trade |
| Other Title Information | 2003-2012 |
| Language | ENG |
| Author | Lai, Pingyao ; Li, Qingru |
| Publication | 2013. |
| Summary / Abstract (Note) | China's foreign trade has entered a new stage, marked by some profound changes since 2003. After 5 years' consecutive high growth, China's foreign trade experienced a significant slowdown in growth following the onset of the global financial crisis in 2008. The purpose of this article is to present a review of the development in China's foreign trade over the past 10 years, and to explore important changes that have taken place during this period of time. A major finding of the present paper is that the traditional forces driving the high export growth in China, that is, low-cost labor, low-cost resources and low-cost money, have been disappearing. The policy implication is that over the next 10-15 years, the most important conditions for sustaining high export growth will be promoting the development and export of private enterprises in traditional heavy industries and high-technology industries, and relying on technological progress and high productivity to propel export expansion. |
| `In' analytical Note | China and World Economy Vol.21, No.6; Nov.-Dec.2013: p.58-78 |
| Journal Source | China and World Economy Vol.21, No.6; Nov.-Dec.2013: p.58-78 |
| Key Words | China ; Export environment ; Export structure ; Flying geese pattern ; Foreign trade ; Changes in exchange rate ; Changes in resource costs ; Changes in labor cost |