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THE STRATEGY OF CHINA`S FOREIGN TRADE POLICY IN THE MODERN ERA

A. M. Nikolayev, S. A. Barov, M. A. Egorova

Abstract

The article is devoted to the actual problem of transformation of the PRC government's foreign trade policy strategy after the beginning of the world financial crisis in 2008. Unlike the major industrialized powers of the West, China, whose economy has been in a state of continuous economic growth for the past 40 years, has not suffered much from the crisis and has significantly strengthened its political position as the main force of economic stability and growth in a new era. The authors note that for modern China foreign trade policy is an integral part of the overall foreign policy, both regionally and globally. The article carefully analyzes the changes in China's foreign policy and the specifics of economic reforms in the context of the global financial crisis and their impact on foreign trade policy. For the Chinese foreign trade policy the main idea is the "trade openness" as opposed to protectionist policies, which are increasingly being used by the US and its West European allies. Simultaneously with the strengthening of China as the world's second economy and the strengthening of its role as a global "donor of capital", their grows the Chinese government's desire to gain control over existing international financial and economic structures and to become a leader in economic integration in East Asia, which meets strong political resistance from the US -Japanese block. According to the authors, the revision of the pre-crisis "status quo" in the global market and in the world economy, provoked by the tightening of the foreign trade policies of the US and China, threatens the world with the future large-scale trade wars and other political clashes that could grow into a new Cold War.

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