Without the support of foreign trade, all the economy is a paper tiger. In the troika of China's economic development, foreign trade has always been one of the most important driving forces. However, under the background of increasing downward pressure on the global economy, the foreign trade situation is grim and exports are weak, which has brought considerable challenges to China's economy.
In this case, Professor Sun Liping of Tsinghua University pointed out that there is actually not much room for domestic demand, and external demand is the real potential demand space. He believes that it is not a lack of domestic demand or weak consumption, but weak exports. Because China's huge production capacity is for the world market, just as meals in restaurants are for customers, the space for internal digestion by family members is very limited.
Indeed, China's economic development has always been dominated by foreign trade and exports. This is because China has a huge manufacturing and labor resource, providing high-quality goods and high-quality services to the world market. However, in the context of the current downward pressure on the global economy, countries have adopted protectionist policies, which has brought considerable challenges to China's exports.
Under such circumstances, China needs to change its economic growth mode and realize economic structural transformation and upgrading. This not only requires strengthening the development of the domestic demand market, but also expanding the external demand market. By improving product quality, innovative technology and brand building, etc., enhance the brand image and competitiveness of Made in China, and promote the diversification and development of export markets.
In addition, China can promote international trade and investment liberalization and facilitation by strengthening economic cooperation with other countries. Through strengthening regional economic cooperation and the construction of free trade zones, we will promote trade and investment liberalization and facilitation, and provide more opportunities and development space for China's export market.
In short, without the support of foreign trade, all the economy is a paper tiger. In the context of increasing downward pressure on the global economy, China needs to transform its economic growth mode, realize economic structural transformation and upgrading, strengthen economic cooperation with other countries, and promote international trade and investment liberalization and facilitation to promote the sustainable development of China's economy.