Question

Topic - a study of china import and export

prepare a presentation report

Answer 1

Trade is very important in China.In 2013 ,China was the largest trading nation on the world and had exceeded the trade of US in the international market.China joined world trade organization in 2001 and also joined in free trade agreement with Australia,South Korea and many other nations.Chinese foreign trade dates back to the Western Han dynasty.However foreign trade was not so popular in the first 30 years of people's republic. and only in 1970 trade grew rapidly.Thus exports earned foreign currency which was used for the development of domestic projects and for buying foreign technologies and technical and managerial knowledge.Imports which comprised of capital goods were used to improve transportation, telecommunication etc.The foreign trade comprised of producer goods from developed countries and exports comprised of food, crude materials like oil, light manufactures like textile . With the expansion of China's industrial sector exports consisted of manufactured goods. Imports of machinery and transportation equipment increased. In 1985, share of food stuff in export fell and petroleum which was the largest export in 1970 was replaced by textile exports which is the largest single item export of China.In 1950 Russia was China's trading partner,by 1960 Japan was trading partner,followed by Hongkong.The US banned trade with China until 1970 and after that US became the second largest importer to China and third largest partner in overall trade.