Research On The Economic And Trade Potential Between China And Nordic Countries

Since the reform and opening up,China and the Nordic countries have become closer in terms of economic and trade exchanges.Bilateral cultural exchanges have continued to increase.Frequent high-level visits and political mutual trust have continued to deepen.Investment development provides a good political environment.In recent years,along with the continuous increase in bilateral trade and investment between China and the Nordic countries,problems such as trade imbalances and trade barriers that hinder the further expansion of bilateral economic and trade cooperation have gradually emerged.In view of the problems existing in the economic and trade cooperation between China and the Nordic countries,the governments of the two sides have maintained a positive attitude of cooperation and have successively signed a series of agreements to promote the healthy and sustainable development of bilateral economic and trade cooperation.In addition,the industrial and trade structures of China and the Nordic countries are highly complementary and bilateral trade is interdependent.At the same time,China's capital advantage is an important source of foreign investment in Nordic countries and advanced technologies in Nordic countries have also brought new areas of expansion for Chinese companies.This shows that the potential for economic and trade cooperation between China and the Nordic countries has broad development space,and studying the potential of bilateral economic and trade cooperation has certain practical significance.Based on a review of the history of economic and trade cooperation between China and the Nordic countries over the past forty years of reform and opening up,this article analyzes and summarizes the current status of economic and trade cooperation between China and the Nordic countries and the problems existing in bilateral economic and trade cooperation.The study found that the current bilateral economic and trade cooperation is developing steadily,the scale of bilateral trade and investment continues to expand,the structure of import and export products is complementary and diverse and the forms of bilateral economic and trade cooperation are diversified.But at the same time,there are problems such as the uneven development of bilateral trade,rade barriers hindering the expansion of China's export markets to Nordic countries and the maritime distance restricting the structure of bilateral trade products.The economic scale?total population?labor costs?the degree of economic openness and economic distance of the Nordic countries to China are used as explanatory variables and the total trade and investment are used as explained variables.The relevant data of China and the Nordic countries from 2003 to 2017 are collected and compiled using Eviews 8.0 Perform preliminary statistical tests on the data,use the trade gravity model and investment gravity model to conduct an empirical analysis of the factors affecting the potential of economic and trade cooperation between China and the Nordic countries and explore the influence and degree of each factor.Through empirical analysis,it can be found that factors such as the economic size? total population and cultural exchange between China and the Nordic countries are positively related to bilateral trade exchanges and investment development and have a strong role in promoting the development of bilateral economic and trade cooperation;Factors such as shipping distance?labor cost and the development of bilateral economic and trade cooperation is negatively related.The existence of these two factors hinders the further expansion of bilateral economic and trade cooperation.Finally,based on the results of the previous theoretical and empirical analysis,in view of the problems and obstacles in the development of bilateral economic and trade cooperation,a rationalization proposal for tapping the potential of China-Nordic economic and trade cooperation was put forward to provide strong support for the further development of bilateral economic and trade cooperation.