Clearly, a large country like China, rapid economic growth and integration with the world, other countries will be beneficial “spillover effect.” But the problem is that Chinese economic development of the “spillover effect” how much?

We try to answer this question. Through research, we have come to the main conclusion is that China’s growth has a positive impact on the world, and over time, this effect both in scope and depth will be further strengthened. Decades ago, China’s growth will only affect the development of neighboring countries, and now China’s development is profoundly affected the world.

Since 1978, China’s reform and opening up policy, China’s development miracle was witnessed by everyone. Immediately after the U.S. China has now become the world’s second largest economy. Real GDP has maintained an annual growth rate of around 10%, which means that every seven or eight years, real GDP will double.

A major economy, with a generation time to achieve 16 times the national income growth, economic history in the world is unique. Involved in this great achievement, one fifth of the world population, can be described as the biggest achievements of mankind.

The core of the Chinese experience is that China and other countries in the world ever closer economic links. “Open” requires China to strengthen ties with the world, including China’s global trade, global markets for some commodities, the share of capital flows, and so increase the area of the yuan increased use in other countries, as well as the China market and Asia and the world association improvement in the level and so on. In the past 30 years, China’s global trade and the share of total world GDP doubled good repeated. In 1980, China’s trade volume accounted for only 1% of world trade, and by 2009, this proportion has been as high as 9%.

While the past few decades, China’s share in global trade increased sharply, but compared to the United States remained weak. At today’s exchange rate, then China’s GDP is only about one-third of the United States, private consumption is about one-fifth of the United States. China can not replace the U.S. in the short term, “global consumer” role. But China is becoming an important trading partner of many countries, and China’s own growth will affect other countries through various channels of development.

In some markets, the Chinese share of the growth is particularly significant. China’s share of global demand for commodities for nearly one-tenth of the total demand in the high-tech manufactured goods exports, the proportion of China’s total exports more than 10%. In the 20 years ago, China’s share of these two areas are negligible. China has become the world’s electronics and information technology products main export countries and is the largest U.S. consumer electronics supplier, the export of electronic products including DVD, notebook computers and mobile telephones.

In the past 30 years, China and the world’s major areas of foreign trade increased significantly. China and other Asian countries where the volume of trade growth in the most significant, it may not be surprising. In addition, with the Africa, Europe, Middle East and Western Hemisphere trade volume has increased several times in recent years.

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Category: Business Management
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