Analysis of China’s Foreign Trade Situation in 2014, and Its Prospects in 2015—Also a Discussion on the Priority in Foreign Development in the Transition Period

Abstract

The recovery of the world’s economy was full of twists and turns in 2014, and world trade grew at a rate that was almost equivalent to that of the world’s economy in recent years; that is to say, global trade and economy were both in a rare slump, indicating the difficult situation that world economy and trade faced during the period of adjustment. In China, the slow growth of foreign trade showed a relative resilience; the structural transformation of exports had improved year after year; the quantity of imports grew faster than the amount of imports and the terms of trade improved to some extent. China’s foreign trade grew by roughly 4.8% in 2014. In 2015, the outlook for the world’s economy and trade is bleak: geopolitical unrest may lead to damage in the European economy and cause a recession in Russia; risks for Japan may increase; the US economy remains uncertain; China’s economy continues to slow down and its foreign trade is expected to rise by roughly 6.6%.