Handbook on the International Political Economy of China
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Handbook on the International Political Economy of China

Edited by Ka Zeng

This book examines the processes, evolution and consequences of China’s rapid integration into the global economy. Through analyses of Beijing’s international economic engagement in areas such as trade, investment, finance, sustainable development and global economic governance, it highlights the forces shaping China’s increasingly prominent role in the global economic arena. Chapters explore China’s behavior in global economic governance, the interests and motivations underlying China’s international economic initiatives and the influence of politics, including both domestic politics and foreign relations, on the country’s global economic footprint.
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Chapter 3: China’s trade policy: Evolution and determinants

Bin Sheng and Xiaosong Wang

Abstract

China’s trade policy has evolved through four stages, namely “import substitution and export promotion,” “export promotion and marginal trade liberalization,” “fulfilling commitments and trade policy adjustment,” and “addressing and recovering from the Global Financial Crisis.” There is no doubt that China’s trade policy has been successful and has become a model for other emerging countries to follow. But, in the meantime, unbalanced, inconsistent, and unsustainable development factors persist in China’s foreign trade. China’s trade policy represents the equilibrium of the interactions among various interest groups. China needs a brand new design to implement the overall reform blueprint and roadmap. It should also focus more on behind-the-border measures and regulatory reforms than on border trade measures.

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