China needs to change trade strategy

Article/ Pub

China Daily

June 1, 2012

Siva Yam & Paul Nash

Country cannot rely old pillars to prop up economy

For several decades, China has built its economic strategy on four pillars: exports, foreign direct investment, fixed-asset investments and domestic consumption. Of these exports have played a vital role- they have drawn in FDI, underpinned investment in fixed assets and fueled domestic consumption.

Since the global financial crisis, China's export to its two largest customers - Europe and the United - have slowed down significantly, giving a new sense of urgency to the government's current plan to lift the nation's manufacturing base up the value chain.

To read the full article, please see the China Daily Website. All rights are reserved by China Daily.

Related Topics