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Internationalisation of China

In: Business Opportunities and Risks in China

Author

Listed:
  • Tracy Dathe

    (Macromedia University)

  • Volker Müller

    (European Chamber of Commerce)

  • Marc Helmold

    (IU International University of Applied Sciences)

Abstract

Internationalisation is an essential factor in China’s economic success. Compared with the most developed economies, the share of China’s trade in service is relatively low compared to the most developed economies; it is expected to grow at an above-average rate. At present, China has an unsustainable high trade surplus with the EU and the United States. The country takes measures like hosting an annual trade fair for imported products to better balance import and export. China strives to accede to the Government Procurement Agreement, which would give imported products access to its large public procurement market. While the EU and United States remain China’s most important economic partners, the country is actively diversifying its trade relations. The Belt and Road Initiative (BRI), also known as the New Silk Road, aims to improve economic relations with developing countries and emerging economies. So far, the focus has put on investment in infrastructure products in BRI countries and import of raw materials. China has also signed a series of free-trade agreement to stimulate economic interactions with overseas partners.

Suggested Citation

  • Tracy Dathe & Volker Müller & Marc Helmold, 2023. "Internationalisation of China," Management for Professionals, in: Business Opportunities and Risks in China, chapter 4, pages 39-52, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-31933-4_4
    DOI: 10.1007/978-3-031-31933-4_4
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