Asia Bizz: China is today’s largest global market in the world, but the year 2010 was not the year for the red dragon. Despite of the consistent development, China had a serious time of trade disputes in the year 2010. In the past year, there were 64 trade disputes that were accounted and this has been valued to around $7 billion.
As per the commerce minister, there were trade disputes, not only with the developed nations but even with the developing ones too. One of the main reasons behind these disputes, could be the strict regulations the country follows. The tiff has occurred in almost all sectors of the economy, ranging from the traditional sectors to the high tech industries.
As of now, the nation will start working on sorting out such differences by moving towards stable growth. One of the concrete solutions kept forward, shows that China will need to boost into its imports to balance out its trade deficit and dispute.
Source: ChinaDaily
