QUALITATIVE CHANGES IN CHINA’S FOREIGN TRADE IN THE ERA OF “NEW NORMAL”

• Authors: Brocková Katarína , Grešš Martin , Karpenko Lidiia , Lipková Ľudmila
• Languages of publication: EN

Abstracts

EN

Since the second decade of the 21st century, the Chinese economy has reached a qualitatively higher stage of development. In literature, this development stage is referred to as the “new normal” and is characterized by the balancing of disproportions in the Chinese economy. The present paper deals with the qualitative changes in Chinese foreign trade from the end of the global financial crisis to the present “new normal” era. The main aim of the paper is to examine the qualitative changes in the commodity structure of China’s exports and imports during the “new normal” in the second decade of the 21st century. We conclude that during this period, the Chinese economy was transformed into an economy with a high GDP share of innovative secondary and tertiary sectors with a change in the commodity structure of foreign trade in favour of high valued products. We conclude that China’s position in the world economy is changing from a “world factory” to an innovative economy.

Keywords

EN

CHINA; FOREIGN TRADE; NEW NORMAL; OLD NORMAL GROWTH; CHINESE ECONOMY

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2020
• Volume: 68
• Issue: 10
• Pages: 1126 – 1151

Contributors

author

Brocková Katarína

• University of Economics in Bratislava, Faculty of International Relations, Dolnozemská cesta 1, 852 35 Bratislava, Slovak Republic

author

Grešš Martin

author

Karpenko Lidiia

author

Lipková Ľudmila

Identifiers

DOI

https://doi.org/10.31577/ekoncas.2020.10.08