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ID:
152515
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| Summary/Abstract |
Since the global financial crisis of 2007/2008, China's foreign trade has continued to grow faster than international trade, but its drivers are now different from those prevailing before. The participation of the Chinese economy in the global production chains through processing activities is no longer the main driver of its trade performance. The new driving force of change is ordinary trade, based mainly on local inputs and domestic demand. China, which played a major role in the globalization process as an export base for multinational companies, is now shifting to having a “normal” foreign trade system, which is more closely integrated into the domestic economy.
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| 2 |
ID:
001133
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| Publication |
London, Economica, 1998.
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| Description |
xii,142p.
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| Standard Number |
1962282032
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Copies: C:1/I:0,R:0,Q:0
Circulation
| Accession# | Call# | Current Location | Status | Policy | Location |
| 040650 | 338.951/FOU 040650 | Main | On Shelf | General | |
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| 3 |
ID:
096227
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| Publication |
2010.
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| Summary/Abstract |
Since 1979, China has recorded a remarkable trade performance, which has been driven by international processing and the offshoring strategies of foreign firms. The diversification of Chinese exports and their technological upgrading have been phenomenal. However, there is also inertia, illustrated by the persistent dualism of the trade sector, the unrelenting specialization in downmarket products and the deteriorating terms of trade. These weaknesses have helped its partners to adjust to the rise of this new trade power. In the past decade, China's economy has faced the adverse effects of an export-led growth and the global crisis has revealed its vulnerability. China is now forced to rebalance its economy. This will imply major changes in foreign trade, in favor of ordinary trade and away from processing. In the foreseeable future, China is unlikely to become the driver of international demand but will remain the engine of Asian economic integration.
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