Abstract
AbstractSubject and purpose:Using annual data for the periods 2009–2019, this paper examines trade flows between China and the Visegrad Group countries. The aim of this article is to assess real changes taking place in international trade in the Visegrad Group countries (V4) over the last eleven years. The starting point for the analysis was 2009 – the time after the 2008 economic crisis, and it was compared especially to 2018 – a year marked by a significant improvement in the economy. The purpose is to discuss concerns related to the differences in bilateral trade between China and Poland, Czech Republic, Hungary, and Slovak Republic. The main aim of this research is to distinguish the characteristics of bilateral trade by products between V4 and China in years 2009–2019. The purpose of this article is also to systematize and discuss points of view, rationalizing further empirical research. Two research hypotheses, resulting from the research purpose, were formulated: H1: in the V4 countries import exceeds export, and this trend seems to be growing, H2: Chinese goods imported to the V4 are much more sophisticated than those exported.Design/Methodology/Approach:To assess the initial and current situation on international trade between the V4 and China, the author uses variables obtained from WTO and OEC resources, diagnosing the situation in Poland, Czech Republic, Hungary, and Slovak Republic. The collected empirical data were processed using theoretical methods such as analysis, synthesis, and comparison to formulate conclusions using deductive and inductive inference methods.Practical Implications:The results can be used in scientific and expert work on diagnostic and forecast trends in bilateral trade by products between the V4 and China.Originality/Value:It concerns the indication of the importance of the V4 trade with China compared to the share of the V4 countries in world trade. It was also possible to identify the top export and import products of the V4. The findings also confirm the significant change in China’s trading structure.
Highlights
Since the end of the 1970s and the implementation of China’s “open door” strategy, foreign trade policy has been changing
In 2019 the highest share of export to China was in Slovac Republic (2.3%), in Hungary (1.44%), Czech Republic (1.3%) and the smallest was in Poland – similar to 10 years ago (1.22%) (OEC, 2020)
Chinese goods imported to the V4 are much more sophisticated than those exported, considering that the car and its parts are foreign direct investment
Summary
Since the end of the 1970s and the implementation of China’s “open door” strategy, foreign trade policy has been changing. In 2019 China was the largest exporter of products (13,2% share of world trade) and the second-largest importer (10,8% share of world trade) in the world. China was the third-largest partner for EU export of products (9%) and the largest partner for EU import of products (19%). This article focuses on bilateral trade in products between China and the Visegrad Group. Bilateral Trade by Products between the V4 Countries and China. There is a conclusion with a few comments on this work
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