Abstract: Trade expansion has been important to China’s growth in recent decades. With an annual growth
rate of 17 percent since 1978, trade has consistently outstripped the already staggering 10 percent
a year growth of the overall economy (Tong 2013 ). In 1978, when China first adopted its “open
door” policy, China’s merchandise exports amounted to US$9.8 billion while its merchandise
imports were US$10.9 billion (Fung 1998 ; Fung et al. 2004 ). China’s exports and imports stood
at US$1.90 trillion and US$1.74 trillion, respectively in 2011. Indeed, during the last three
decades, trade liberalization and expansion served as an essential force underlying China’s
remarkable development and transformation.
Publication Year: 2014
Publication Date: 2014-07-30
Language: en
Type: article
Access and Citation
Cited By Count: 5
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