| Since the 20th century, the world crisis outbreaks frequently, which shows the limitations of "Washington consensus". Although the books about the benefits of free trade are quite abundant, but none explicitly point out the benefits of capital flows. The Sub-prime mortgage crisis and the European sovereign debt crisis make people know that the basis of modern monetary was no longer gold or other reserve assets but credit——the trust of monetary issuer.It lighted the brightly contrail of China's reform and opening to the outside world that China began to go in the way of powerful nation since 80s 20th century. China won the worldwide recognition.There are many famous theories about Foreign Trade in Western international economics, such as the Theory of Absolute advantage of Adam Smith the Theory of Comparative advantage of David Richardo,the Factor endowment theory, and the Factor price equalization theorem of Paul Samuelson. They all play a certain guiding role in our country's economic development process, but can not explain absolutely the "China model"——which is set up on the unique national conditions of China. Since they all regard "capital can not flow between two countries" as pre-condition. Since up until today, China's political and economic system has yet to be perfected, and the "China Model" is evolving based on world and Chinese experiences.According to all these Western economic theories, the developing countries will always produce labor-intensive production and export of low value-added products, until the developed countries upgrade their industry structure, it will be impossible to transfer the backward industries from developed countries to developing countries.For a long time, in the strategy of international trade, China has mainly taken the comparative advantages to develop labor-intensive industries. In the early stages of economic development, international trade has developed rather rapidly. Meanwhile, the international competitiveness of technology and capital-intensive products is still low. The export of foreign-invested enterprises is high in China's total export. With time goes by, the main purpose of international trade is to meet each other's needs according to the comparative advantage. An important feature of modern international competition is that each country enters the international market to obtain greater international trade interests. As the status of high-tech industries structure is rising rapidly, industrial structure is rapidly knowledgeable, and gradually becomes competitive signs and the main source.It is remarkable sign of practicing reform and opening to the outside world in China that merchant promotion and investment attraction. Depending on the merchant promotion and investment attraction, it promoted opening to the domestic and abroad and economic development. Merchant promotion and investment attraction is accompanied with and promoted China's reform and opening to the outside world, it devoted a great contribution to China's modernization: Merchant promotion and investment attraction brought about scarcely capital, technology and widely markets for us in the early development.The author in this paper thinks that as the research of Mao Zedong and Deng Xiaoping's theories on capitalism, objecting to research the two essential problems about "what is capitalism" and "how to deal with the relationship between socialism and capitalism in the developmental period". They are all familiar with the basic national conditions of China, the unique cultural background is helpful in forming "China Model". For China in the early period, we were short of "Capital" despite the resource of land and the resource of labor. Since we can not get the capital we need domestic, we should get the help in abroad——introduced advanced machinery and equipment,or directly borrow any international hard currency,or issued stocks or bonds to other country.Since reform and opening up, the strategy of China's international trade has based on the comparative advantage theory. The implementation of this strategy has greatly promoted the economic of china. According to statistics, the volume of China's international trade was only S 20.6 billion, but in 2010 this figure reached $ 2.97 trillion. And in the same year, China ranked the second from 32nd in 1978 in international trade, only after the United States, Stimulated by the development of foreign trade, China's economy showed a rapid growth:the GDP increased to RMB 3.97 trillion in 2010 from RMB 3645.2 billion in 1978. High output growth, sustained returns on capital investments, extensive reallocation within the manufacturing sector, falling labor share and accumulation of a large foreign surplus.Comparing with the developed countries, China's per capital GDP is still low. The problem we are facing is that the traditional comparative advantages are being weakened, the trade friction is increasing, and the overall profit is declining.Therefore, in order to make China to participate in international division of labor and trade more efficiently, and play a more role in the international trade in the future, it is necessary to On one hand we should continue to speed up the pace of industrial restructuring, vigorously promote technological innovation, and let market fully play the role of its efficiency in resource allocation. On the other hand, as a large developing country, China should speed up institutional innovation, innovate the government system, build a systemic stability system, enable the country's overall competitive advantage with a historic undertaking in conjunction with the strategy of national sustainable development, transform the comparative advantages into competitive advantages through multi-angle and systematic institutional arrangements, enhance the country's overall competitiveness, improve the negotiation ability in foreign trade, and control the words power and initiative rights in the international trade to protect the national interest and benefit.
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