General

With the remarkable growth of China's economy, its impact on international trade is increasingly significant. With a population of over 1.4 billion, China's vast industrial capabilities and technological leadership have made it a pivotal participant in the global economic system. The impact of China's rise on international trade will be complex and far-reaching.

The core of China's economic success lies in the strength of its manufacturing industry. According to data from the United Nations Conference on Trade and Development, China has become a major commodity producer in the world, accounting for nearly 30% of global manufacturing output in 2019. China's vast factory network has enabled it to produce goods at lower costs than other countries, making it a popular destination for outsourced production. This allows Western companies to leverage China's manufacturing capabilities to create global supply chains spanning multiple continents.

The rise of China has also had a significant impact on the global trading system. The rapid growth of China's economy has led to a surge in demand for raw materials such as oil and minerals, benefiting commodity producers in Africa and South America. According to data from the International Monetary Fund, China is the world's largest consumer of commodities, with demand for raw materials such as iron ore and copper accounting for nearly half of global total demand.

China's growing middle class has also become a key driver of global demand. According to McKinsey&Company, China's middle class population has reached 550 million by 2022. This has prompted foreign companies to increase their investment in China and actively establish Sino foreign joint ventures and cooperative relationships.

In 2020, China surpassed the United States as the EU's largest international trading partner for the first time. The rise of China as a global economic superpower has also brought some challenges to the international trade order.

One potential way to address the challenge is to strengthen China's cooperation with other countries. China has taken measures to address concerns raised by some trading partners, such as strengthening intellectual property protection and agreeing to open more markets to foreign investment.

Another potential solution is for other countries to focus on improving their economic competitiveness.

Overall, China's rise as an economic superpower has had a profound impact on the international trading system. As China continues to develop, other policymakers and companies must adjust themselves and find ways to address the complexity of the global trading system.