General

Three major factors drive economic growth, and China's foreign trade economy has achieved "full prosperity"! To get to the point, with China's rapid development, the foreign trade economy is also growing at the same time. According to the data, China's foreign trade has maintained year-on-year growth for seven consecutive quarters, which can be said to have achieved "full prosperity" and laid a solid foundation for future goals.

From the perspective of other countries' trade with China, take Germany as an example. In the past, German political circles have always wanted to reduce their economic dependence on China. However, from the perspective of data, in the past year, the economy of China has not decreased but increased, and China has won the title of Germany's largest trading partner for seven consecutive years. For Germany, the two pillars supporting its economy are Russian energy and the huge Chinese market. From this point of view, the importance of the Chinese market to the trade of other countries is self-evident. Let's take a specific view. Which three factors drive economic growth.

First of all, China's foreign trade economic market has remained stable and relatively stable. Affected by the epidemic situation and the Russia-Ukraine conflict, the overall situation of countries around the world is unstable, the global economy is in a recovery trend, and the demand for China in the trade markets of countries around the world is expanding. At the same time, for China, high-quality development has achieved new results, the economic indicators of foreign trade have maintained sustained growth in recent years, and China has always focused on manufacturing, providing a strong backing for domestic production and import and export trade.

Secondly, the continuous introduction of favorable trade policies can be seen from the frequent introduction of trade policies by the country. The main goal of the new year is to develop and boost the economy and maintain stable growth of the foreign trade economy. Not only that, it is not only China that has issued relevant favorable policies, but also the financial institutions of various countries have made higher economic forecasts for China. It can be seen that China's favorable policies are not boastful in the world, but are favored by the majority of international financial institutions. This undoubtedly injected confidence and determination into the national economic development in 2023.

Finally, the hegemony of the US dollar is also affected by the Russia-Ukraine conflict. After seeing Russia's experience, I understand that once the two countries are hostile, the United States will not abide by the rules of the game and block its holdings of US debt. At that time, it will cause a devastating impact on its own currency. Therefore, more and more countries have begun to abandon their US debt holdings and take more stable RMB as the first choice in trade settlement. Especially after Russia adjusted its export policy and took the RMB as the only foreign exchange recognized by Russia, the influence of the RMB in the world continued to increase, which is more beneficial to China's trade exports.

Then again, it is good news for the growth of foreign trade, but we cannot be blindly optimistic. The development of things has two sides. Rapid development will inevitably affect the future, which is what we need to pay attention to. Especially in the context of the global economic downturn, we should focus more on the manufacturing industry and maintain stable and high-quality development.