Analyses and Suggestions on China’s Foreign Trade Development Pattern Transformation*

PEI Changhong1, PENG Lei2 and ZHENG Wen3

1 Professor with Institute of Economics, the Chinese Academy of Social Sciences, Beijing, China 2 Associate professor with Finance and Trade Economics, CASS, Beijing, China

3 Lecturer with the School of International Trade and Economics, Jiangxi University of Finance and Economics, Nanchang, China
Abstract: In coping with the global financial crisis, all levels of the Chinese government and foreign trade firms have not only created new practices but have also changed

their goal from transforming the growth pattern of foreign trade to transforming the development pattern of foreign trade. China’s experience shows that economic instruments such as Net Barter Terms of Trade (NBTT) and the smile curve theory have limitations when it comes to interpreting foreign trade. If used improperly, scientific theories often lead to fallacies. Transforming the development pattern of China’s foreign trade requires the following changes: national income distribution, foreign trade competition, market exploration, and resource utilization. We advise that competent authorities create a reasonable and operational system of assessment indicators.

Key words: trade conditions, transformation of foreign trade development pattern, taking stock of experiences, economics connotations

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