China Import Export Balance
It looks like the Chinese are not satisfied with their oversaturated exports. They try to focus on imports as well. Just read on People’s Daily Online that “The 50-year-old Chinese Export Commodities Fair, which used to be the only international showcase for Chinese products, changed its name to the Chinese Import and Export Commodities Fair on Sunday evening.”
“The fair will also become a major platform for imports into China to achieve an equilibrium with exports,” said Zhang Yansheng, director of the Institute for International Economic Research of the National Development and Reform Commission.
The export-oriented economic policy since the 1980s has resulted in huge trade surpluses and foreign exchange reserve.
The question is: how will Chinese accept the imported goods?
According to the World Factbook, in 2005 China imports were: $631.8 billion f.o.b. (2005 est.) and exports were $752.2 billion f.o.b. (2005 est.).
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November 20th, 2006 at 6:12 am
Are you been to the 100th Canton Fair?
November 20th, 2006 at 7:24 am
No, unfortunately no.
I read a lot about it and I see China becoming an even bigger player in world trade and commerce. Time will tell I am right.
November 23rd, 2006 at 8:36 am
Foresight! I believe you are right.
I was graduated this summer and try to do world trade.
And now I earns only USD110 per month. Although the life is hard, but I believe life will be much more better.