The determinants of foreign trade development in the People's Republic of China

M. Deng Dapeng

Bachelor's thesis

Abstract:

Prior to the beginning of economic reforms and trade liberalization over four decades ago, China upheld policies that kept the economy poor, stagnant, centrally managed, enormously inefficient, and largely isolated from the world economy. China has been one of the fastest-growing economies since opening up to foreign trade and investment and incorporating free-market reforms in 1979, with real annual GDP growth averaging 9.5% through 2018, a rate indicated by the World Bank as "the fastest sustained expansion by a major economy in history." Such development has allowed China to quadruple its GDP every eight years on average, lifting an estimated 800 million out of poverty. China has risen to be the world's largest economy, manufacturer, holder of foreign exchange reserves and merchandise trader. The theoretical part of the Bachelor thesis will be mainly based on a relevant literature review. While the practical part will contain descriptive statistical and qualitative thematic with the use of Trend Analysis.

Keywords

China, Economy, Free market, GDP, International

Language used: English

Date on which the thesis was submitted / produced: 15. 3. 2022

Thesis defence

• Supervisor: Mgr. Elena Kuzmenko, Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Bachelor programme:
Business Administration