Abstract
Because Chinese foreign trade scale grows rapidly and trade surplus of China continues, there are increasing trade frictions between China and its trade partners. Handling trade frictions with trade partners appropriately has a great influence on Chinese foreign trade and economic growth. It is unreasonable for china to restrain exports to pursue trade balance and reduce trade frictions. In order to reduce trade frictions with trade partners, we think China can take some measures as: encouraging imports instead of reducing exports, encouraging OFDI (outward foreign direct investment) of Chinese enterprises and exporting parts and components to host countries, asking for more imports of high-tech products from the U.S. and the European Union, and encouraging exports of high-tech products with intellectual property rights.
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Notes
- 1.
See the Madrid European Council, Presidency Conclusions, June 27, 1989,
- 2.
Tokyo Shimbun, February 9, 2005, via FBIS.
- 3.
The two-day S&ED is co-chaired by Chinese Vice Premier Wang Qishan, State Councilor Dai Bingguo and U.S. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner. The dialogue mechanism was upgraded from former Strategic Dialogue and biennial Strategic Economic Dialogue, which were initiated by the two heads of state in 2005 and 2006, respectively.
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Yuan, T. (2014). To Reduce Trade Frictions. In: On China's Trade Surplus. SpringerBriefs in Business. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-38925-2_4
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DOI: https://doi.org/10.1007/978-3-642-38925-2_4
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