International Comparison of Trade Strategies

Author: Yin Xiangshuo et al
Publisher:
Publish Date: 2006-06-01
Features: Every country's economic development will face factor constraints, and foreign trade helps to break through a country's factor constraints, promoting long-term economic development. Since different countries face different factor constraints at different historical stages, they will also adopt different trade development strategies and policies. After presenting a theoretical framework, this book primarily explores the trade strategies and policies of the United Kingdom, the United States, and Japan during their economic rise, following the logic of history. The analysis in this book shows that the United Kingdom's policy shift from mercantilism to free trade, the United States' adjustment from high tariff protection to what is known as fair trade policies, and Japan's post-World War II trade-led national development strategy were all aimed at solving the factor constraints or bottlenecks in economic development. When the trade strategies and policies of these countries were conducive to resolving the prevailing factor constraints, their economic development was rapid; otherwise, the economy would slow down or even stagnate. After summarizing the trade strategies and policies of the United Kingdom, the United States, and Japan, this book also discusses the main constraints faced by China's economic development and the ways to overcome them, as well as offering views on the strategic and policy measures that should be implemented in the future.