Professor Dai Xiang from School of Government Auditing, is a doctor in economics. His paper entitled “The Decline of China’s Foreign Trade Growth: Mechanism Analysis and Countermeasures” was originally published in Journal of Jiangsu Administration Institute in 2016. This paper attempts to analyze the reasons for the decline of China’s foreign trade growth from a global perspective, and seeks to find measures to cope with the present situation.
The following is the abstract of the paper in English:
In recent years, from the absolute point of view, China’s trade growth showed a significant downward trend, but from the angle of international comparison, it is still strong. Therefore, the decline of China's trade growth rate is not individual phenomenon, but a global one, and the reason is mainly found with the force resulting from previous round of technological revolution and global economic rules, which are now becoming weaker and weaker in its role of pushing forward evolution of division of labor, while a new round of technological revolution and the new rules of the global economy have not yet been formed. General performance and outstanding characteristics which is the current in this period, technology innovation competition and completion in drafting global trade rules will become the focus of the problem during the period when global economy enters a stage of deep adjustment. Therefore, during this special period, China’s foreign trade development strategy necessitates timely adjustments, and requires the creation of a conducive policy featuring innovation-driven environment for the development of foreign trade. With “the Belt and Road” strategy as the starting point, we need to explore the new global trade rules to develop scientific and effective measures, and to reinforce the healthy and stable development of foreign trade.