China Trade Evolution from the 20th to the 21st Centuries

Document Type : Research Paper

Author

Faculty of Agricultural and Food Sciences, American University of Beirut, Beirut, Lebanon

Abstract

Although a country’s economy is grasped through the acknowledgment of its factors of production and economic system; however, these occasionally deter it. These resources are segregated into the country's three sectors: the primary sector (agriculture and raw materials), the secondary sector (manufacturing); and the tertiary sector (services). These sectors work together and interact in markets forming what is known as trade.  Trade is the way by which merchandise is swapped inside a country or among countries either in wholesale or retail markets.
To shed the light on China’s trade and development, data has been collected from the World Bank and Trading Economics indicators. Entries that have been studied included the balance of trade, exports, imports, FDI net inflow, and FDI net outflow. Results have shown that trade is affected by the above in various levels; however, almost all entries have had a good correlation with each other except for (FDI net inflow – FDI net outflow) entry. Furthermore, data has shown that there existed setbacks during this trade evolution; which has been mainly due to international economic conditions and recently COVID 19; as well as other internal ones such as development, policies, level of exports and imports, and FDI involvement.
Hence, based on the above, several actions need to be implemented. These include better control processes that need to set by the state (policies, and trade incentives), update trade data continuously; and equal distribution of growth and development among the different provinces; in terms of equality, capacity building, and human capital development.

Keywords

Management Studies and Economic Systems
Volume 5, 3/4
November 2020
Pages 153-180

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