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The Open Economy

Author

Listed:
  • Horst Löchel

    (Frankfurt School of Finance and Management)

  • Tim Jablonski

    (Frankfurt School of Finance and Management)

Abstract

The internationalisation of China’s economy since Reform and Opening Up in 1978 marked the start of what is currently known as globalisation. Since then, China has developed into one of the most open and integrated economies in the world. In terms of trade, it had already become the largest trading nation by 2014. Presently, the country accounts for 15% of global exports and receives 11% of all imports. However, globalisation has been on the retreat since the global financial crisis in 2008, and today, geopolitical fragmentation and economic security are at the top of the agenda.

Suggested Citation

  • Horst Löchel & Tim Jablonski, 2025. "The Open Economy," Contributions to Economics,, Springer.
  • Handle: RePEc:spr:conchp:978-3-031-80150-1_6
    DOI: 10.1007/978-3-031-80150-1_6
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