Realistic Analysis Of China's Foreign Economic Strategy

Since the reform and opening-up policy in 1978, China's economics changing with each passing day. Its economic volume increased year by year, and maintained a longer period of rapid growth, in which the external economic amount kept sustained growth, has played a significant role in the Chinese economy development. However, the U.S. financial crisis in 2008 of China's economy had a profound effect, slowing down the China's economic growth, and in which most impact the external economic sphere. Its value of imports and exports and overseas financial investment are rapidly decreased. Based on the fact of China's export-oriented economy that we need to study the present situation of China's external economic, analyzing its internal economic structure in depth. We also should give guiding recommendations for China's external economic strategy. All above is in order to promote a long-term steady and rapid development of China's external economic, so that the interests of china will be maximized in the process of world economic development.This paper will combine with real empirical data to explore the relations between the requirements of China's development and the external factors that influence the Chinese economy, and how they affect the China's foreign economic each other.The results of this study point out that the approach of export-oriented and import substitution strategy's implementation should be progressive and alternating. It should be experience a circulatory course such as import substitution (low-technology level) ---- export-oriented (low-technology level)---- import substitution (high-technology level) ---- export-oriented (high-technology level). With the circulatory course, the export industry can achieve a comprehensive, constantly upgrading, and then the export industry will develop a sustainable development road, which could create more new GDP growth. All of these will make the Chinese economy maintain a rapid growth for a long time, and enhance China's comprehensive strength gradually in the future.