Research on the Emergence of China’s Foreign Trade Surplus and Countermeasures

Wu Dan / Chongqing University of Education Foreign Languages and Literatures

Research on the Emergence of China’s Foreign Trade Surplus and Countermeasures

Wu Dan / Chongqing University of Education Foreign Languages and Literatures

With the development of economic globalization and the deepening of international division of labor, the integration of foreign trade and investment is booming, which leads China to linked with world by world trade and international financial system.The imbalance in the global economy is getting worse, and the attention has a constant improvement. It’s necessary for us to have a intensive study.

foreign trade surplus；trade surplus；countermeasures

1. The status quo of China’s foreign trade

The global economy gradually move to a sustainable recovery path, international market demand further warmed up and the external expansion import policy started to take an effective effect after going through the financial crisis in 2008. China’s exports stood in the world first place in 2010, its share of world exports from 7.3% up to 10.4% and the share of imports from the third to the second in the world, and the total foreign trade surplus also stood in the world first place.

The government has taken some effective measures to implement the import policy so that to stimulate the balance development of the foreign trade, which includes import discount interest, import credit, import credit insurance and so on, which has a obvious effect. The import growth is above more quickly than import. However, the total import amount and the speed increase are accompanied by the correction of import, which is connect to the constant rise of international price.

2. The emergence of foreign trade surplus and influence

It seemed that China’s GDP growth rate would above 30%, and exceeded the general expectation, however, the domestic economy was booming in the United States on behalf of the main trade partners, even Japan has appeared powerful autonomous growth. The domestic economy has cooled, which leads to the insufficient domestic demand and flat demand of import economy. Therefore, the rate of increase has promotedrapidly due to the substantial goods flow to overseas. In the long run, with the increase of the stock of foreign investment, the amount of the foreign investment income and remitted would keep increasing in China’s balance of international payment. Therefore, China have to further enlarge its trade surplus for maintaining the balance of the current account. In the short turn, the trade surplus is the premier factor of the excess liquidity.

3.Countermeasures for China’s foreign trade surplus

Increase means that implementing the public finance expenditures of social security system, medical system and educational system, which is to decline the worries that public can’t assure their future, and then declining the saving rate. Unbalanced economic structures have been formed, and it is clear that this imbalance can not be achieved only in the short term through macroeconomic policies.

The situation of China’s foreign trade surplus has encountered strong fluctuation in many years, after that, it come true based on its industrial structure has a rapid change under the double stimulation of the adjustment of development strategy and the entry of foreign capital.With the gradually growth of the market oriented status in the resource allocation, the industrial structure has more closely to the departure of comparative resource advantage. Our country’s foreign trade will ensure the balance of payment meanwhile the size grow steadily in a long turn.

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