Study On The Relationship Of Foreign Trade And Economic Growth In China

Relationship of foreign trade and economic growth has been the evergreen topic of study based on the field of economics,domestic and foreign scholars have discussed this issue in depth theoretical from multiple angles, a variety of methods and different data, empirical results also varied. Reform and opening up to now, three decades of China’s foreign trade continued to flourish, the growth rate is rapid, the scale is constantly expanding.The rapid development of foreign trade has played an important role in promoting China’s economic growth. But with the volatility of the economic situation, foreign trade is constantly changing.2013 full year, total imports and exports is $4,160,331,000,000,GDP is $8,349,228,000,000, are listed first and second in the world.In recent years,China’s import and export has synchronous growth with GDP, both have a significant correlation.However,the specific contact path is still worth studying to find out the true role of foreign trade to economic growth. Therefore, the study of the relationship between trade policy can be developed to better provide for our reference.Based on the theory of Keynesian macroeconomic national income model, exports as part of the total demand,is injected into the flow of the economic cycle,with a role in promoting economic growth;while imports are spending the external demand,is a key national economic cycle leakage,it has led to economic contraction.However,the actual operation of the importing economy is rich and diverse,is it just a leak term? On the other hand, industry and exports are also involved rich and diverse,will their impact on economic growth is the same?Thoughts and questions from this paper to investigate the relationship between foreign trade and economic growth of our country, will discuss the relationship between exports and imports with economic growth.Firstly, this paper analyzes the different path of exports and imports in promoting economic growth based on the relationship between trade and economic growth theory. Secondly, it analyzes our country foreign trade status and influence on the economic growth through the overall development of import and export, import and export trade dependency and commodity structure. Finally, it does an empirical test on the relationship between the China national foreign trade and economic growth through ADF test and co-integration analysis, not only quantitative analyzes that how the changes in total exports and imports influence the economic growth, but also detailed analyzes the impact of import and export trade on economic growth from different commodity structure.In this paper, based on the analysis of commodity structure refinement, the conclusion is: export and import trade can promote economic growth; exports, exports of resource-intensive products regardless of labor-intensive products, or capital-and technology-intensive products exists a positive correlation between trade and economic growth in China; on the import side intermediate goods, consumer goods imports can promote China’s economic growth to some extent, while imports of capital goods will produce an inhibitory effect on economic growth.Finally,based on the conclusions of the theoretical and empirical analysis,policy recommendations that not only want to see the stimulating effect of exports on economic growth, but also should pay attention to the different impact of imports on economic growth;through continuous optimization of the structure of import and export commodities,to achieve a balanced development of import and export trade,then provide a stable and lasting impetus for economic growth.