China’s outstanding performance in
economic growth can be traced back to its increasing involvement in global trade and
dynamic trade policy. China’s rapid economic growth has made the country target the
world as its market. The increasing participation in the global market helps China reap
the static and dynamic benefits from trade, facilitating the rapid national economic
growth.
The increasing participation in the global market helps China reap
the static and dynamic benefits from trade, facilitating the rapid national economic
growth. The static benefits from international trade result from importing capital goods
which embody high technology. And the dynamic effects of trade refer to the
improvement in the TFP through learning by doing and accumulation of human capital.