China trade performances and policies

Topics: International trade, Free trade, Tariff Pages: 13 (3503 words) Published: May 25, 2014

NICOLAS RAMON GARCIA

Case studies: Trade performance and trade policies of select countries

CHINA

ID STUDENT 13201433

COURSE ID 122171 | 122071

OCTOBER 25TH OF 2013

CONTENTS

1. Basics of China

A. China in Numbers
i. Economy
ii. Development
iii. Trade and Investments
iv. Consumption Behavior

2. China foreign trade

A. Introduction on China trade policies
i. China foreign trade in the past years
ii. China foreign trade today

B. China trade policies
i. Data and facts about China related with international commerce

3. China in the WTO

i. A balance of China in the WTO
ii. Trade Barriers

4. The future of China

i. Where is China going?
ii. China´s next wave of exportation

5. Opinion

i. Thoughts about the true future of Chinese economy

6. Appendices

7. Bibliography

List of abbreviations

WTO---------------------- World Trade Organization
OECD-------------------- Organizations for Economic Co-Operation and Development PPP----------------------- Purchasing Power Parity
GDP----------------------- Gross Domestic Product
UK------------------------- United Kingdom
EU------------------------- European Union
LDC----------------------- Least Developed Countries
CDB---------------------- China Development Bank
MOFCOM--------------- Chinese Ministry of Commerce
GATT---------------------- General Agreement on Tariffs and Trade UN------------------------ United Nations
TRIPS------------------- Trade-related Aspects of Intellectual Property Rights SAR---------------------- Special Administrative Region
ASEAN------------------ Association of South East Asian Nations CNPC--------------------- China National Petroleum Corporation TRQ---------------------- Tariff Rate Quota
APEC-------------------- Asia Pacific Economic Co-operation

Basics of China

Here is a brief introduction and compilation of facts and data about China. This is only some summarized and relevant information I found so it can be a tiny introduction of the basics of China.

China in Numbers

Economy

The Chinese economy has grown at under 10% a year for 32 years, overtaking Japan in 2010 to become the world´s 2nd largest economy. According to the OECD, China is projected to overtake the US in 2016 (in PPP terms).

In 1978, the year of the reform and opening up in China, the country´s GDP was 1% of the total world GDP. In 2011, that percentage increased to 10.4%. China´s GDP in 2002 was 90% of the UK GDP; by 2011 China´s GDP was three times bigger that the GDP of the UK; by 2020 it is projected that China´s GDP will be five times bigger that the GDP of the UK.

China has the world´s largest foreign exchange reserves, reached $3.3 trillion at the end of 2012 it is more than the EU, Japan, and Russia combined.

Development

Two-way trade between China and Africa increased from $11 billion in 2000 to over $200 billion in 2012. The share of total exports from Least Developed Countries going to China increased from 10% in 2000 to 27% in 2010.

China Export-Import Bank and China Development Bank signed loans of at least $110 billion to other developing countries in 2009 and 2010, compared with $100 billion in non-concessional loan commitments by the World Bank Group over the same period.

By the end of March 2012, the outstanding foreign exchange loans of CDB alone reached about $220 billion; this is more than the World Bank ($136billion) and the Asian Development Bank ($71.4billion) combined in their 2012 fiscal year.

Trade and Investments

China is the world´s largest goods exporter and the world´s second largest goods importer.

The Chinese Ministry of Commerce (MOFCOM) statistics suggest that the EU top importers from China are: Germany, France and the UK in 2012. This last one is one place up from 2011 (overtaking Italy). According to...
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