China's foreign trade development measures taken in recent years mainly include: continuously expanding opening up to the outside world, actively carrying out economic and trade cooperation with other countries around the world on the basis of equality and mutual benefit, accelerating the process of integrating China's economy into the global economy, and further enhancing the vitality of foreign trade. But the most crucial thing is to realize the sustainable development of foreign trade.
Since the reform and opening up, the development of China's foreign trade has made remarkable achievements. Over the past 30 years, China has taken advantage of the opportunities presented by the longer-term prosperity of the world economy and the deepening development of economic globalization to expand its opening up to the outside world, attract and make use of foreign investment, bring in advanced technology, transform and upgrade its domestic industries, and realize the leapfrog development of its foreign trade through its comprehensive participation in the international division of labor and competition. China's total import and export of goods jumped from 20.6 billion U.S. dollars in 1978 to 2,974 billion U.S. dollars in 2010, with an average annual growth rate of 16.8%, and has become the world's largest exporter of goods trade and the second largest importer of goods trade for two consecutive years.
But in order to achieve significant development in the future, it is necessary to continuously improve and perfect all aspects of foreign trade policies and measures. Compared with the world's trade powerhouses, China's export industries are still at the low end of the global industrial chain, and the cost of resources, energy and other factor inputs and environmental costs are still relatively high, as well as the international competitiveness of enterprises and the relative weakness of some industries' risk-resistant capabilities. The realization of the transformation from a large trading nation to a strong trading nation will be a longer-term process and will require hard work.
Proactively participate in and promote the process of regional economic integration, continue to strengthen trade with emerging markets and developing countries, in response to the disputes and frictions between China and its trading partners, China should proactively take corresponding trade protection measures. At present, the products involved in China's trade friction are mainly concentrated in textiles, footwear, tires, auto parts, steel and chemical products, and the disputed issues are mainly related to intellectual property rights, trade balance, fair trade, food safety, environmental protection and other areas.
The development of China's foreign trade can be specifically described from the following aspects:
(a) the world economy and trade growth slowed down further; the U.S. real estate boom is still declining, and the subprime crisis is still further deepening and spreading, has begun to consumption, investment and other real economic development in depth. As a result, the United States in recent months, durable goods orders and industrial production continued to decline, the employment situation continues to deteriorate, the unemployment rate continues to rise, personal consumption is weakening, the risk of recession in the United States is still on the rise, the United States dollar against the euro and other currencies continue to depreciate sharply. If the U.S. economic growth slows further, China's exports to the U.S. growth decline will continue.
By the U.S. economic slowdown, the world's economic growth will also slow down further. The International Monetary Fund (IMF) has recently reduced the global economic growth forecast for 2008 from 4.1% to 3.7%, than in January is expected to be lowered again by 0.5 percentage points, the lowest growth rate since 2002. Which is expected to the U.S. economic growth from 2.2% in 2007 fell back to 0.5% this year, the euro zone by 2.6% fell back to 1.4%, Japan by 2.1% fell back to 1.4%, emerging markets and developing countries will also fall back by 1.2 percentage points. the IMF that the U.S. is in the most serious financial crisis since the 1930s, the global economy fell into a recession with a chance of 25 percent . At the same time, the IMF also expects the growth rate of international trade to fall from 6.8 percent in 2007 to 5.6 percent this year.
(1) The U.S. economic situation and the dollar exchange rate trend; the U.S. economy grew by 2.2% in 2007, the lowest level in recent years. 2008 the U.S. economy continues to show a weak trend. Reflecting the development of the manufacturing sector, the ISM manufacturing index was below 50 in January and February, in a weakened state. Overall construction spending fell 1.7% in January, the highest level of decline in 14 years, has fallen for four consecutive months. Residential construction spending fell 19.4% from a year earlier. New home sales fell to their lowest level in 13 years in February, declining 1.8%, the fourth consecutive monthly decline. Real personal consumption growth has been basically stagnant since last December, consumer confidence index fell to 64.5 in March this year. in the housing market cooling, subprime mortgage crisis worsening, economic growth slowdown, the job market suffered a serious setback. in February, the United States non-farm payrolls fell by 63,000, the biggest drop in five years, the unemployment rate of 4.8% in the same month, rose further to 5.1% in March.
Since last September, the Federal Reserve has cut interest rates for seven consecutive times, and the federal funds rate has been reduced by a cumulative total of 3.25 percentage points to 2 percent. The U.S. Congress and the Bush administration have agreed on a fiscal stimulus program. The entire program was implemented in two years, with $152 billion in rebates implemented in 2008 and $16 billion in rebates implemented in 2009. However, the Federal Reserve interest rate cuts as well as government initiatives to stimulate the economy to defuse the risk of recession in the United States is not yet obvious. The U.S. economy grew by only 0.6% in the first quarter, and the OECD expects the U.S. economy to grow by zero percent in the second quarter. Federal Reserve Chairman Ben Bernanke has admitted that the U.S. economic growth in the first half of this year may be very small, or even shrinkage. the IMF's latest report pointed out that by the subprime mortgage crisis and financial market turbulence of the intersection of the impact of the U.S. economy will fall into a mild recession in 2008, the annual economic growth will be only 0.5 percent.
Since the outbreak of the subprime crisis, the dollar exchange rate continued to fall. 2007, the dollar against the euro fell close to 10%, and the downward trend has not abated since 2008. As of the end of March, the U.S. dollar composite weighted index closed at 70.31, down 4% from the end of last year, of which, the euro to the dollar exchange rate closed at 1:1.5805, the dollar against the euro depreciated by 7.6% from the end of the previous year; U.S. dollar to the Japanese yen exchange rate closed at 1:99.85, depreciated by 10.6% from the end of the previous year. Given the risk of recession in the United States is still increasing, the market generally expected that the Federal Reserve may further substantial interest rate cuts, while the European Central Bank may maintain a neutral monetary policy, coupled with emerging market economies will continue to shunt dollar assets and other factors, the first half of 2008, the dollar's weakening trend is still difficult to reverse.
(ii) international market prices of primary products continue to climb high; in 2007, by the world economy continued to grow, strong demand, production costs, such as the impact of the dollar depreciation, the international commodity market prices have been climbing for six consecutive years, especially crude oil and agricultural prices rose the most rapid. International crude oil prices at the end of the year than at the beginning of the year almost doubled, food, vegetable oil prices rose sharply, other agricultural products, such as beverages, livestock and poultry products, as well as cotton, wool, timber, natural rubber and other industrial and agricultural raw materials, the price of the whole line also rose. According to the relevant United Nations agencies, international food prices rose 42% in 2007.
Since 2008, the world's economic development uncertainties increase, the global primary commodity prices in general is a shocking upward trend. Crude oil, gold and wheat, rice, soybeans, soybean oil and other major agricultural products prices hit record highs, increasing inflationary pressure in various countries. In order to curb inflation, food-importing countries have increased their procurement volume, and exporting countries have implemented export restrictions, distorting the pattern of world food trade and tightening supply, stimulating further increases in international food prices. Food prices are expected to remain high for a considerable period of time in the future. High food prices may exacerbate the imbalance in the development of the world economy, and will also further increase global inflationary pressure.
Analysis of the current situation, the next period of time, the global market supply and demand for primary commodities will not have a major change in the situation, the dollar exchange rate, although repeated, but the overall softening, coupled with speculative capital speculation and other factors, prices will continue to fluctuate at a high level.
(C) the domestic RMB appreciation accelerate the impact of more obvious; from the situation reflected by enterprises, the main factors affecting exports are accelerated appreciation of the RMB, raw material prices, labor and environmental protection costs, interest rates, as well as last year's foreign trade policy adjustments and other factors to produce a superposition. In the long run, these factors will be conducive to promoting the optimization of the structure of foreign trade and the transformation of the mode of development, such as rising wages is conducive to improving the structure of national income distribution, expanding domestic consumption; environmental protection costs are conducive to promoting energy conservation and emission reduction, and transforming the mode of economic development. However, in the near term, enterprise restructuring and digestion of rising costs need a process, the short term may affect corporate profits. Since the second half of last year, the nominal exchange rate appreciation of the RMB accelerated the pace of the first quarter of this year, the RMB against the U.S. dollar appreciation of more than 4%. At the same time, the first quarter of this year, raw materials, fuels, power purchase prices rose 9.8%, accelerated by 5.7 percentage points over the same period last year. The country to strengthen macro-control and the implementation of tight monetary policy, more and more import and export enterprises feel the liquidity constraints and increased pressure on the cost of capital.
Many enterprises reflected that the space to absorb rising costs is quite limited, in the conditions of the international market downturn by raising prices to transfer costs more and more difficult, the export profit margins fell or even losses. Many export enterprises have a single dare not accept or long single to short single situation, small and medium-sized enterprises and labor-intensive industries is particularly obvious.
(D) import and export tax policy adjustments on China's import and export impact; in recent years, for China's trade surplus continues to expand rapidly, and trade partners friction increases, foreign trade development on domestic resources, environmental pressure, the country's import and export taxes on a series of adjustments. Firstly, it adjusts the import and export tariffs of commodities and implements temporary tax rates for some commodities. On the export side, export tariffs have been raised or introduced mainly for resource products. On the import side, import tariffs have been lowered for important raw materials and key components, as well as for medical equipment and daily necessities that cannot be produced domestically but are in great demand, etc. In 2008, China further adjusted its import and export tariffs, mainly in terms of most-favored-nation (MFN) tariffs, annual provisional tariffs, agreement tariffs and preferential tariffs, etc. The total tariff level was adjusted to 9.9 percent after the adjustment. The total adjusted tariff level was 9.8%; among them, the average tariff rate for agricultural products was 15.2%, and the average tariff rate for industrial products was reduced to 8.92%. Secondly, the tax rebate rate for export commodities has been lowered. In recent years, the State has several times lowered or canceled the export tax rebate for some "high energy-consuming, high-polluting and resource-based" products, and further canceled the export tax rebate for 553 products of "two highs and one capital" in July 2007, and at the same time lowered the export tax rebate for 2,268 commodities prone to cause trade friction. The adjustment of import and export tax policy has effectively suppressed the export of some high-energy consumption, high-pollution and resource products, alleviated to a certain extent the contradiction of China's foreign trade surplus, and is conducive to the optimization of the structure of import and export commodities; and has also obviously promoted the import of some energy and resource commodities, key parts and components, advanced technological equipment, and people's daily necessities and other commodities. However, due to the textile and light industry and other labor-intensive industries with low profit margins, the space to absorb rising costs is very limited, reduce the export tax rebate rate of light textile products, may to a certain extent affect the export competitive advantage of these industries, need to pay close attention.
Therefore, China should insist on taking into account and balancing the interests of all parties, and make use of multi- and bilateral channels within the rules and system of the World Trade Organization to resolve disputes through dialogue, consultation and negotiation. In recent years, China has taken many measures in expanding market opening, protecting intellectual property rights, promoting trade balance, reforming the RMB exchange rate formation mechanism, and standardizing the order of import and export operations to fully accommodate the concerns of its trading partners. When consultations fail to resolve disputes, China has properly handled trade disputes with its trading partners through the dispute settlement mechanism of the World Trade Organization, thus maintaining the stability of the multilateral trading system. To a certain extent, it effectively alleviates and solves the problem of sustainable development of my foreign trade.
This is my own writing, but some of the book's point of view, as well as from the Internet to find out some information, this brother you look at it! Can I help you! I am studying International Economics and Trade