International situation and development trend of foreign trade industry

Since the reform and opening up, my country's foreign trade has ushered in a period of rapid development. Especially since 2001, the annual growth rate of my country's import and export of goods has exceeded 20% annually. Now that China's economy is booming, the world economy is affected by cyclical fluctuations and is in the stage of adjustment and reform.

The continuous debt crisis in Europe and Brexit have seriously hindered the economic development of Europe. Japan’s economic development has gradually slowed due to the impact of declining birthrates and the current world market constraints. The Russian economy is facing hard times due to Western sanctions and falling oil prices. The economic development of the United States has reached a bottleneck, and re-industrialization has gradually been valued by the government, and a new round of industrial revolution is ready to take off. Under the premise that the economic globalization pattern is stable and the trend is stronger, my country's foreign trade industry is in a golden period, but it is also greatly affected by the economic policies of various countries, and the development pressure will increase.

With the development of my country's economy, the exchange rate of the renminbi has gradually decreased, and China's cost advantage has gradually disappeared. Therefore, the status of China’s world factory is gradually shifting to Southeast Asia. Developing countries such as Vietnam and Indonesia seize the international market with lower cost advantages. The international competition for labor-intensive and low-value-added products is becoming more fierce. Affected by this, China will export products in the future Structural upgrading is imperative. Some high-end machinery and high-tech products and service products will compete with developed countries, and factories will transition from labor-intensive industries to streamlined and economical industries.