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China's New Trade Strategy amid US-China Confrontation and Implications

Author

Listed:
  • Hyun, Sang Baek

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • Yeon, Wonho

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • Na, Su Yeob

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • Kim, Young Sun

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • Oh, Yun Mi

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

Abstract

In 2021, China has reached the point of entering a new stage of socialist development by declaring the achievement of the goal of building ‘a comprehensive well-off society’. Since the reform and opening up of China, the paradigm of economic and social development is facing the greatest turning point from ‘getting rich first’ to ‘common prosperity’. As the US checks on China intensify during this period of economic transition in China, China is pursuing a new trade strategy to respond to it. In order to understand the changes in the global trade environment in the era of the US-China conflict, it is necessary to understand both the US checks with China and China's trade strategy to respond to them. Most of the recent US-China conflicts are analyzed from the perspective of the US checking in with China, but it is necessary to take a balanced look at what kind of countermeasures China is seeking in order to correctly forecast and prepare for changes in the global trade environment in the future.

Suggested Citation

  • Hyun, Sang Baek & Yeon, Wonho & Na, Su Yeob & Kim, Young Sun & Oh, Yun Mi, 2022. "China's New Trade Strategy amid US-China Confrontation and Implications," World Economy Brief 22-13, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepwe:2022_013
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    Keywords

    China; US-China conflict; trade strategy;
    All these keywords.

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