Reminders from Experts at the Academy of Social Sciences About the "Dangers" Facing China's International Finances (I)

Abstract

Dependence of China's foreign trade on foreign countries will remain at a fairly high level for a long time. In 1995, China's proportion in world trade was 2.56 percent and its total imports and exports comprised 40.5 percent of gross domestic product (degree of dependence on foreign trade). By the years 2000 and 2010, China's degree of dependence on foreign trade will remain at the fairly high level of 39 percent. This means that of every yuan we make, 0.4 yuan comes from foreign trade. If China's proportion in world trade is increased by about one percentage point (to 3.6 percent), our country's degree of dependence on foreign trade in the year 2000 will rise to 52 percent, and if China's proportion in world trade rises to 4.3 percent in 2010, its degree of dependence on foreign trade will reach a frightening 70 percent or thereabouts.