The World Trade Organisation will produce a sharp increase in imports as tariff barriers are lowered and because China does not yet have import control measures that are in accordance with WTO rules. This will increase the pressure on balancing foreign trade.
However, helped by the central government’s macro-economic policies and by measures to encourage exports, the report said that China’s exports would be relatively insulated from the economic downturn. Exports are still likely to exceed imports, it concluded, though by a much smaller amount than in recent years.
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