The Impact of the Trade War and COVID-19 on China's Foreign Trade

Download or read book The Impact of the Trade War and COVID-19 on China's Foreign Trade written by Abderrahmane Moukadiri and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the trade war, China's foreign trade experienced significant disruptions as tariffs and trade restrictions were imposed. Studies indicate that the trade diversion effect led to a reconfiguration of global value chains, with some countries seeking alternative suppliers to mitigate the impact of tariffs. China responded by shifting its export focus from low-end to high-end manufacturing, aiming to enhance its competitiveness in the global market.The COVID-19 pandemic further impacted China's foreign trade, leading to disruptions in supply chains and dampened demand worldwide. Digital trade and e-commerce emerged as significant drivers of China's foreign trade during the pandemic. With lockdown measures and restrictions on physical movement, online platforms and cross-border e-commerce gained prominence, facilitating trade transactions and expanding market access for Chinese exporters.Trade is at the heart of China's economic growth and development. It underpins its global competitiveness and plays an important role in advancing supply-side reform. In response to the trade war and the evolving global trade landscape, China implemented various trade policies and reforms. These measures aimed to stimulate domestic consumption, foster innovation, and promote high-quality development of foreign trade. Tariff adjustments, import facilitation, and export promotion were among the policy tools employed.China is the most important market for international trade, furthermore, its importance has increased significantly over time. This abstract highlights the importance of studying China's foreign trade dynamics in the post-trade war and post-COVID-19 era. It underscores the need for further research to comprehensively assess the long-term implications of these events and their impact on China's trade performance, competitiveness, and position in the global economy.