Global EditionASIA 中文雙語(yǔ)Fran?ais
Opinion
Home / Opinion / Editorials

Foreign trade impetus for global recovery: China Daily editorial

chinadaily.com.cn | Updated: 2022-01-16 19:31
Share
Share - WeChat
An aerial view of Yangpu economic development zone in South China's Hainan province is seen in this file photo taken on Dec 5, 2021. [Photo/Xinhua]

In a hard-earned result, given the attempts the United States has exerted to reshape the global supply chains, China's foreign trade realized 30 percent year-on-year growth last year.

Its total export and import volume reached $6.05 trillion in 2021, compared with $4.6 trillion the year before, according to data released by the General Administration of Customs on Friday.

While a strong performance might have been expected since the country has the largest comprehensive manufacturing sector and it is the only major economy to have largely contained the novel coronavirus, the "robust resilience" of China's foreign trade in the face of severe fallout from the pandemic, was "dazzling", Li Kuiwen, spokesperson of the GAC, told a news conference on Friday in Beijing.

That "robust resilience" benefits both the world and China, as it sustains the stability of the global supply chains, and stokes the quick recovery of the Chinese economy, whose growth was up 9.8 percent year-on-year over the first three quarters of last year.

However, although China's trade may continue to grow this year, its marginal effects in boosting economic growth are falling sharply. Year-on-year GDP growth slowed remarkably from 18.3 percent in the first quarter to 4.9 percent in the third.

That the government prioritizes employment and assisting small and medium-sized enterprises indicates that top policymakers are aware of the hidden dangers behind the rosy figures, and they are on high alert to the uncertainties and risks the country faces.

The three pressures on the Chinese economy — contracting demand, supply chain shocks and weakening expectation — are becoming more prominent, as the global economic recovery is weak and precarious, featuring a shortage of semiconductors, containers and laborers, and the soaring prices of transportation, raw materials and energy.

If the price hikes on these fronts are not checked, the fast increase of foreign trade will become a burden on the Chinese economy at last. No wonder some export enterprises have already started turning down orders to avoid the dilemma that the more they produce the more they lose.

To effectively promote sustainable high-quality development that is crucial for it to manage the risks and uncertainties, China must unswervingly press ahead with its painstaking efforts to upgrade its industries, improve its business environment, make breakthroughs in key technologies and restructure its economy.

As the growth of global trade and investment slows down, the share of intermediate goods in world trade, a staple trade form for developing countries, is dwindling continuously. The golden age of economic globalization has come to an end, and it has become a basic trend that the global supply chains are shrinking, shortening and localizing, with countries placing more emphasis on national security and national interests.

China has to adapt to that new normal, and that places higher requirements on it to realize high-quality development.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 日本不卡中文字幕| 亚洲欧美中文字幕5发布| 九九久久久久午夜精选| 麻豆果冻传媒精品二三区| 欧美性大战XXXXX久久久√| 国产欧美在线观看一区二区 | 免费无码不卡视频在线观看| 97夜夜澡人人双人人人喊| 最近国语视频在线观看免费播放| 国产丰满眼镜女在线观看| ts人妖另类在线| 欧美va亚洲va国产综合| 四虎影视www四虎免费| 97精品人妻系列无码人妻| 新婚侵犯乐派影院| 亚洲色成人WWW永久在线观看| 日本人与动zozo| 成人欧美一区二区三区在线| 人人妻人人爽人人做夜欢视频九色| 亚洲色图第一页| 成人片黄网站色大片免费| 亚洲福利视频一区| 高潮插的我好爽再干噢在线欢看| 尾野真知子番号| 亚洲国产成人久久三区| 色狠狠狠狠狠香蕉| 在地铁车上弄到高c了| 久久午夜无码鲁丝片| 狼群视频在线观看www| 国产成人精品高清不卡在线| 三级黄色片在线观看| 男人j放进女人p全黄| 国产日韩欧美精品一区| 一本一道精品欧美中文字幕 | 国产精品www| 中文在线最新版天堂| 欧美日韩在线一区二区三区| 国产一区二区三区精品视频| 97精品在线视频| 巴西大白屁股bbbbxxxx| 久久亚洲国产成人精品性色|