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China's Economy (Fach) / 2_Trade a Miracle made in China (CE) (Lektion)
- China trade characteristics (selection) (PBCLFI) Fast growth• Changing composition• Low research and development input• Predominance of foreign-owned enterprises in the export sector• Balance of payment deficit in the service sector• Inefficient use of energy->China derives little rent from the place it occupies on theinternational product chain->Wei Jianguo (2006): China’s current export pattern isstrongly characterized by “low-level, low-grade, few brandsand low return.”
- Balance of Payment Deficit A balance of payments deficit means the country imports more goods, services and capital than it exports. It must borrow from other countries to pay for its imports.