A Study On China's Development Pattern Of Open-Oriented Economy Under The Background Of The Imbalance Of World Economy

Since 1978, China has made remarkable achievements in economy, and China has become the world's third-largest economy. It is a rare phenomenon in the history of human development that China obtained so great achievements in such a short period of time. China's unique economic development pattern has become the focus of attention. Entering the 21st century, the worsening imbalance of world economy has been influencing operation of economic and economic policy decision of world countries. China's development pattern of open-oriented economy has been challenged by the global financial crisis. It is important for China to achieve sustained, stable and rapid growth that study of the connotation, operational mechanism and transformation and upgrade of China's development pattern of open-oriented economy.Using the theory of development economics, macroeconomics and international economics, the thesis reveals the connotation, features and operational mechanism of China's development pattern of open-oriented economy, and illustrates challenges from the global economic imbalances and the global financial crisis on China's development pattern of open-oriented economy. Based on these, the thesis discusses of the the necessity and strategy of the transformation and upgrading of China's development pattern of open-oriented economy. On research methods, this thesis seeks to use the combination of theoretical and empirical, qualitative and quantitative methods of analysis, the integration of economic theory, statistical indicators and econometric empirical method to conduct a comprehensive study on China's development pattern of open-oriented economy.This thesis defines connotation of China's development pattern of open-oriented economy in terms of elements that belong to China's development pattern of open-oriented economy, and then reveals operating mechanism of China's development pattern of open-oriented economy using the dominant elements which are foreign trade and foreign direct investment as the main line. Based on these, the thesis explores characteristics and existing problems of China's development pattern of open-oriented economy, and analysis impacts and challenges from the global financial crisis on China's development pattern of open-oriented economy. The thesis also analysis the relationship between China's development pattern of open-oriented economy and imbalance of world economy, and empirically studies on the sustainability of China's development pattern of open-oriented economy using of economic indicators and VAR model. Through the above study, the thesis seeks the roots that cause the unsustainability of China's development pattern of open-oriented economy, and puts forward strategy for transformation and upgrade of China's development pattern of open-oriented economy based on these.The main conclusions of this thesis include four aspects. Firstly, China's development pattern of open-oriented economy has gone though establish stage and development stage, and go into the deepening stage now. Secondly, China's development pattern of open-oriented economy uses export and foreign investment as the twin-engine, and includes six elements that are the capital, human resources, knowledge, foreign trade, foreign direct investment and institution. These elements which integrating and reinforcing mutually constitute a complete system. Among them, foreign trade and foreign direct investment are the principle elements which play a leading role, they promote the joint and integration of elements of both at home and abroad, and lead the growth of domestic economy. Thirdly, China's development pattern of open-oriented economy affects operation and structure adjustment of world economy, and should bear some responsibility of imbalance of the world economy. Fourthly, based on empirical research by using VAR model, China's development pattern of open-oriented economy is unsustainable, so China's development pattern of open-oriented economy should restructure and upgrade.The principal innovation of this thesis includes three aspects. Firstly, This thesis defines connotation of China's development pattern of open-oriented economy in terms of elements that belong to China's development pattern of open-oriented economy, and reveals operating mechanism of China's development pattern of open-oriented economy using the dominant elements which are foreign trade and foreign direct investment as the main line. The thesis discovers the major forces that promote growth of China's economy through the analysis on the characteristics China's development pattern of open-oriented economy, and then use it as reference to select the variables for empirical analysis on sustainability of China's development pattern of open-oriented economy.Secondly, under the background of imbalance of world economy, this thesis study of China's development pattern of open-oriented economy from domestic and international perspective, and explore sustainability of China's development pattern of open-oriented economy from two aspects of its internal mechanism and external environment. From domestic perspective, the thesis explores the mechanism that China's development pattern of open-oriented economy promotes growth of China's economy on the basis of definition of this pattern, and analysis the problems of the pattern, then studies of the sustainability of this pattern through empirical methods. From international perspective, the thesis analysis the relationship between China's development pattern of open-oriented economy and the imbalance of the world economy, and the challenges on the pattern from the global financial crisis.Thirdly, based on the results of empirical study of the sustainability of China's development pattern of open-oriented economy, and the elements which lead to the pattern's unsustainability, the thesis puts forward the strategies of the pattern's transformation and upgrade. That is comprehensively and systematically putting forward the strategies of the pattern's transformation and upgrade from prospects of import and export, internal and external demands, and domestic and foreign capital.