International Journal of Economics and Business Administration
Articles Information
International Journal of Economics and Business Administration, Vol.7, No.1, Mar. 2021, Pub. Date: Mar. 29, 2021
Determinants of Promotion of International Trade and Economic Development
Pages: 18-27 Views: 95 Downloads: 35
Authors
[01] Dabo Abdoulrahaman, Department of Economics and Management, School of Economics and Management, Zhejiang Sci-Tech University, Hangzhou, PR China; School of Social Science, AM’s Research Academy, Dhaka, Bangladesh.
[02] Yang Jun, Department of Economics and Management, School of Economics and Management, Zhejiang Sci-Tech University, Hangzhou, PR China.
Abstract
For decades, trade has been a part of global growth. By stimulating economic growth, generating employment, lowering costs, growing the choice of products for customers, and helping countries acquire new technology, it has the potential to be a major factor for reducing global poverty. International trade has significant emphasis on foreign policy makers and analysts. Its value lies in the opportunity to purchase products that cannot be manufactured within the country or that can only be produced at higher prices. It also helps a country to export its domestically manufactured products to other nations around the world. The objectives of this study were to work out the connection between international trade and economic development in China. This study used Pearson Correlation model for empirical findings. Secondary data was used to conduct this study and the required data was collected from the National Bureau of Statistics of China, Wikipedia and from the website of Trading Economics. The study found that international trade is strongly positively correlated with economic growth (GDP) in China. This documentary research also examined the factors which affect international trade. Some identified factors include foreign policy, government policy, rate of exchange, foreign currency reserves, inflation, and demand. Solutions to the identified factors were offered at the top of the study. Past studies were reviewed and therefore the conceptual framework generated supported past findings. This study provides some Suggestions for investors, international business, as well as entrepreneurs.
Keywords
Determinants, International Trade, GDP, China
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