China’s changing role in world trade

Sun, Sizhong, and Song, Ligang (2003) China’s changing role in world trade. In: Garnaut , Ross, and Song, Ligang, (eds.) China: new engine of world growth. Asia Pacific Press, Canberra, ACT, Australia, pp. 151-175.

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Abstract

The rapid growth of foreign trade during the past quarter century has fundamentally changed China's position in world trade. China is now a large, developing, and at the same time transitional, economy excelling in international economic activities through domestic reform and trade liberalisation. Relatively high export growth has been accompanied by a sustained process of GOP growth and rising per capita income at home. The combination of the size of the economy, sustained low production costs, and continued strong inflows of foreign direct investment means that China has had profound effects on regional and world production and consumption. China's changing role in world trade after its accession to the WTO in 2001 is much more than the increase in its share of world trade; its significance lies in the commensurate role it now has in promoting the multilateral trading system. A multilateral system provides the most appropriate framework for China to balance its domestic and international interests, and together with its trading partners, meet new challenges in globalisation.

Item ID: 9791
Item Type: Book Chapter (Research - B1)
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ISBN: 978-0-7315-3780-8
Date Deposited: 23 Jul 2010 03:56
FoR Codes: 14 ECONOMICS > 1402 Applied Economics > 140210 International Economics and International Finance @ 100%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9103 International Trade > 910399 International Trade not elsewhere classified @ 100%
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