Development Stage of China’s Foreign Trade

SONG Hong1 and CHAI Yu2

1 Senior Fellow, Institute of World Economics and Politics, Chinese Academy of Social Sciences
2 Senior Fellow, Institute of Latin American Studies, Chinese Academy of Social Sciences

Abstract:

Thanks to the intensive empirical studies, a reverse U-shape relationship was established between the diversification of export goods and the per-capita level of GDP. According to this framework, this paper analyzes the case of China, and finds that in the next 10 years, labor-intensive goods will still be able to maintain their comparative advantages in China. This finding has important implications for China’s future trade strategy and policy.

Key Words:

diversification of export goods, structural reform, labor-intensive goods, the stages of trade development

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