Trade Management Theory: A Discussion on Adjustments of China's Foreign Trade Policy in the Context of Economic Transition

Author: Li Qun
Publisher:
Publish Date: 2004-12-01
Features: Managed trade refers to the international trade theories and policies proposed by various global trade entities in the process of maximizing the comparative advantages derived from international division of labor. It aims to effectively resolve conflicts in cooperation and realize the potential benefits of mutual cooperation. Managed trade is neither free trade nor protectionist trade; rather, it incorporates characteristics of both. It is characterized by game theory, duality, power decentralization, diversity in forms, complexity, openness of measures, and the internationalization of "national power." Managed trade is both a trade system. In the late 1970s and early 1980s, some Western developed countries adopted managed trade policies and achieved certain results. Meanwhile, some developing countries, driven by the need to protect and develop their national economies, also applied the theory of managed trade to their trade policies. This book provides a systematic elaboration on the connotation, characteristics, forms, background, causes, theoretical foundation, development trends, and policy effects of managed trade. The impact of managed trade practiced by many countries in the world on China's economic and trade development is becoming increasingly significant. Therefore, under the current trend of international managed trade, the best choice for China's trade policy during the economic transition period is a protectionist form of managed trade. On one hand, actual regulation of government indirect intervention ensures that foreign trade operates according to objective economic laws, allowing for the full utilization of both domestic and international markets and resources to optimize resource allocation. On the other hand, more active participation in international coordination is encouraged, implementing reasonable and moderate trade protection during the process of trade liberalization. Additionally, greater adaptation to the requirements of market globalization, trade liberalization, and internationalization of capital is emphasized, rather than solely serving the economic development goals of the nation.