The mechanism of state regulation of foreign trade of China

Abstract

Almost exponential economic growth of People’s Republic of China has been a point of increasing interest for the last decades. With WTO ascension in 2001, PRC became a flu-fledged member of the globalizing world’s economy, bringing industrial offshoring opportunities for countries world-wide. After joining WTO, People’s Republic of China continued or implemented new questionable trade practices, laws and protectionist measures, against the principles of organization. Aforementioned factors have led to initiation of the trade conflict between the People’s Republic of China and the United States of America. This work analyses Chinese approaches to foreign trade from both theoretical and practical perspective, looks into the background and effects of the ongoing Sino-American trade war, and suggests a possible roadmap to resolution of this conflict.