Analysis The Relationship Between International Industrial Restructuring And China's International Payments' Imbalances

In the context of Economic Globalization and Economic Integration of the world, no country can be apart from the international division. One country's industial structure will does some impact on other country, also other country's changes in industial structure will do reaction to this country. Then it will have impact on one country's Balance of Payments. Later in 90's, not only developed countries but also developing countries'industrial restructuring have emerged some new changes.Into the 90's, our country's intenational balance of payments has aways been surplus. A country's international balance of payments surplas means the country's economy is becoming better, but it also means the international external economic imbalances of this country. Our country has sustained double surplus over 20 years, we do not think it is a good trend. Therefor, we find the causes of international payments imbalances and the response is very necessary.In this article, from the perspective of internationa industrial restructuring, analysising international industrial restructuring, especially the developed countries'industrial restructuring,had done impacts to China's international imbalance of payments.First, outlines the related theory of the international industrial structure and balance of payments. Most of the papers are about the causes of imbalance in international payments.Second, overview the concepts related with industrial structure and the theory industrial structure adjustment. Including the implications of industrial restructuring, Industrial Structure of the meaning of the meaning structure of industry, etc. It also introduces some of the industrial structure classifications. They are the three industrial classification, classification of the two areas and two sectors of agriculture, light and heavy classification, resource-intensive classification, the International Standard Industrial Classification. This section also describes some related concepts of the balance of payments and theories. Including Smith's absolute advantage theory, the Ricardian theory of comparative advantage, Liszt's theory of trade protection and the new trade theory.Third, it is a brief summary of the situation of our country's international balance of payments and the international industial restructuring, also analyzes the characteristics of our country's international imbalance of payments and the trends of international industrial restructuring. The characteristics of China's international payments imbalances, including:(1) China's current account and capital projects of international balance of payments are both surplus at the same time; (2) The increase in export trade is the main reason of current account surplus; (3) Changes in capital account is mainly caused by the international economic and financial crisis. By historical analysis of United States, Japan, Germany and China's industrial restructuring, this section also further illustrates the general international trend of industrial structure adjustment.Fourth, Description of the international industrial structure adjustment to the path of the balance of payments. Using the ADF and var modal, the trade of China and United States for example, analysises the reaction between international industial structure and our country's trade balance, and descriptively analysises the impacts of the FDI on our capital projects. International industrial restructuring and the relationship between China's international payments imbalances are very close. FDI's impact on China's international balance of payments is complex. This part also analyzes the reasons of the U.S. industrial structure adjustment. Including: (1) The pull of consumption needs of the American; (2) the expansion of the U.S. high-tech industries; (3) In order to adjust the domestic U.S. climate and environment, some polluting industries are transed to other countries.Finally, makes some policy recommendations. (1) Make the importance of the international industrial structure adjustment; (2) As economic development, China should pay attention to the domestic climate; (3) Increase investment in high-tech industry; (4) Strengthen the supervision of FDI and the financial sector; (5) Expansion of domestic consumption in China domastic.