Question

Briefly describe China’s history of foreign trade. Please type the answer and must be around 10 sentences or more in length.

Answer 1

China foreign trade policy is aimed at earning huge export revenue.

Chinese government provide huge subsidies to its industries to be competitive in world market.

As we all know China is one of the biggest trading pattern of US . This shows that aim of Chinese government is to provide huge benefits to its industries to earn huge foreign exchange.

Chinese government has recently declared various soaps such tax holidays, special economic zones, diversification of trade basket to give impetus to trade.

China uses restrictive trade policies such as tariffs , import quotas to restrict imports into their country.

Chinese foreign trade policy has added new dimensions to it by finding new trading pattern by entering into pact with certain developing countries. These pacts relate to infrastructure development .

China being member of WTO cleverly uses it's power to gain say in world trade affairs.