As an important indicator of its blending into economic globalization China's foreign trade grew from $100 billion to $1 trillion in 16 years while the ratio between foreign trade and GDP of the same period, which measures a country's foreign trade dependence, surged in the meantime. Zhang Yuyan, research fellow at the Chinese Academy of Social Sciences, said China's foreign trade dependence has reached 80 percent, which is considerably higher than that of other developed and developing countries. China has become the country with the highest foreign trade dependence in the world.
Zhang said the fast growth of trade, accelerated flow of capital, rapid dissemination of technologies and the increased interdependence among various economic entities have become the four basic traits of economic globalization. International trade in the last decades has almost surpassed the trade aggregate since the launch of international trade and the growth is accelerating. The rapid spread and application of new technologies and inventions worldwide also became a chief trait of economic globalization. A result of this is that interdependence among various countries and economic entities has raise to an unprecedented level.
By People's Daily Online