China’s Foreign Trade Strategy: Evolution and the Need for Adjustment
Abstract
In 2004, the total foreign trade amount of China for the first time stepped over 1000 billion US$, what makes China the third one in the world foreign trade next to America and Germany. Foreign trade growth has made a tremendous contribution to China’s economic development. Significant growth of Chinese international trade has been based based upon the huge investments of resources, so China still facing many problems: increasing trade conflicts, sharpening energy issues, dominating low value added operations. Therefore, in order to become a trade powerful country, China should adjust its international trade strategy.
Keywords:
China, foreign trade, processing trade, trade structure, «smile» curve, international production, value chain
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.