Cross-country Comparison Of Contribution To Economic Growth Of International Trade

Since 1990s, China's omni-directional opening has entered a new stage of development and China's foreign trade has shown rapid development, but in 2009 influenced by the global financial crisis, China's exports and imports declined, which ultimately will adversely affect economic growth. To alleviate the impact of the international market and ensure steady economic growth, it is necessary to identify the different characteristics of foreign trade of goods and develop a series of foreign trade policy. To this end, first the relationship between international trade and economic growth should be studied and practical measuring the impact of all kinds of goods and services in international trade is also necessary so that we could provide a scientific basis for the foreign trade policy.In this context, and in cross-country comparison perspectives, China's international trade contribution to economic growth has been studied. The main purpose of the study is to address two major issues: first, to what extent China's economy ties with the world economy; second, China's international trade contribution to economic growth and its trend. In this paper, we use multinational comparable non-competitive input-output tables including China to calculate, compare and analyses China's dependence on foreign trade, the contribution of foreign trade to GDP. Through the calculation, comparison and analysis above, this paper reached the following main conclusions: First, China's foreign trade volume is great, but the dependence on foreign trade is not high; second, units of foreign trade volume for China's economic growth performed well, but the relative contribution of the overall trade to gross domestic product is not high, the two trends present in the opposite direction.