The paper "Chinese Trade Liberalization" is a perfect example of a macro and microeconomic case study. In the early 1970s before it imitated its economic reform china was the thirtieth largest trading country in the world; by the year, 2000 China had become the seventh-largest trading country. In 2004 for its trade had surpassed those of Canada and the United Kingdom to become the faith biggest trading nation in the world. Its trade was growing so fast that in 2003-it easily surpassed that of France to become the fourth biggest trading country in the world.
By the turn of the decade chins trade surpassed that of Japan to become the second biggest in the world. Currently, it is the largest trading country in the world after surpassing the United States mid last year. The rise in China becoming a trading powerhouse has coincided with it becoming an economic powerhouse and a major player in the world’ s economy. The easy is divided into two parts; it first analyses the trade liberation reforms that china undertook in the 1970s and the effect these reforms on its economy.
The next part analyses how china manoeuvred through the global financial crisis in 2007-09. China joined the world trade organization in the year 2001 but by then it had already transformed its economy to become the fastest growing in the world and had become the seventh-largest trading country in the world. During this period of economic transformation, china had transformed its economy from being one of the most protected to become one of the most open economies among the emerging and newly industrialized countries. To demonstrate the level of transformation that the Chinese economy, it was compared to that of the Indian economy.
During the time of Indian independence, India commanded a bigger share of the world’ s economy than china. However, over the years the Chinese economic and trade performance has been far much superior to that of India. In the middle of the 20th century the Chinese worlds trade share was less than one percent while that of India was over two percent but by two thousand and two Indians share was less than one percent while that of China had increased to over four percent.
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