Source: CCTV.com
03-17-2008 20:27
China's trade scale keeps expanding over the recent years. But it has also put the country into a more complicated position with its trading partners.
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China has been an active participant in globalization, with a continuously expanding scale of foreign trade and more opening up.
China has enjoyed many years of a trade surplus, which hit a new record high of 262.6 billion US dollars in 2007.
But a rising trade surplus is the primary source of China's conflicts with its major trading partners. Trade issues between China and the US and the EU, China's 2 biggest trading partners, have arisen more frequently than ever, especially after China entered the World Trade Organization.
In the first half of 2007, Chinese firms received 16 anti-dumping complaints filed by WTO members, accounting for about a third of all cases.
But that's not the only issue China is facing. As China has become a global economic force, the country's currency relations with other nations have become more complex.
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China has maintained a huge trade surplus due to its role as the world's manufacturer. Many foreign businesses have lobbied hard to block the Made in China products that have surged into their countries. They believe China has kept the value of the yuan low against the dollar, because this makes Chinese goods cheaper in their markets... and their products more expensive overseas.