CCTV host Tianwei interviews former Minister of Commerce, Wei Jianguo: Can exports still fuel China's growth?

2010-03-06 18:23 BJT

Special Report: 2010 NPC & CPPCC Sessions |


Guest speaker: Wei Jianguo, CPPCC member & CCIEE Deputy Secretary General

Economic restructuring seems to be the buzzword at the National People's Congress. The aim is to change China's economic reliance on exports and investment -- the foundation of the past 30 years -- to more domestic consumption. But how long will China continue to rely on exports? What are the challenges in making this transition? CCTV host Tian Wei talks to veteran trade official Wei Jianguo.


Over the past 30 years of reform and opening up, exports greatly contributed to the development of the Chinese economy. Products made in China are exported to both developed and developing countries. The quality of China's products are well promoted. China's exports are greatly appreciated.


It is very common to see trade conflicts in a global market. Some countries impose trade restrictions against Chinese exports. Many believe this is to solve employment problems, or to achieve some political purposes. These moves can damage trade agreements and possibly influence voters against certain governments. I know, China's exports have been restricted more than 70 times, accounting for losses of more than 100 billion US dollars.This is unusual.


Just as I say to my friends and colleagues, trade conflicts between China and the world will be seen in the future for a long long time, in or after a financial crisis. However, I don't think a massive trade war will happen. Because China and the world are interlocked. The trade war will only do harm to the benefits of foreign investors.


The Chinese government's support for exporting is in line with the World Trade Organization. I think exports will remain the engine pushing forward the development of the Chinese economy for the next 20 years. Export, investment and domestic consumption are like the wheels of a tricycle. If consumption can't keep up, the tricycle won't function well.


Editor: Liu Anqi | Source: