Abstract
From 1976 to 1978, China was at an important historical turning point—the gestation and startup of China’s opening-up. Domestically, the collapse of the “Gang of Four” and the end of the “Cultural Revolution” made the people of the country inspiring and united, and they were eager to achieve the socialist modernization of the motherland as soon as possible.
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Notes
- 1.
Shen Jueren et al., Foreign Trade in Contemporary China, Beijing: Contemporary China Publishing House, 1992, p. 37.
- 2.
It was called “Overseas Leap Forward” because the rapid economic development in this period was built on introduction. Its embodiments were a large scale and a quick pace of introduction which exceeded the existing foreign exchange payment and supporting capability. By the end of 1978, China’s materials, credit, finance and foreign exchange expenditures became unstable and presented new difficulties to the building up of the economy.
- 3.
Li Kanghua, Wang Shouchun, China’s Foreign Trade at the Primar y Stage of Socialism, Beijing: Foreign Trade Education Press, 1989.
- 4.
Data source: Yearbook of China’s Foreign Economic Relations and Trade (1986), China Foreign Economic and Trade Publishing House, 1986.
- 5.
Li Kanghua, Wang Shouchun, Eds. China’s Foreign Trade at the Primary Stage of Socialism, Beijing: Foreign Trade Education Press, 1989.
- 6.
Series on Contemporary China Editorial Committee, Foreign Trade in Contemporary China, Beijing: Contemporary China Publishing House, 1992.
- 7.
Series on Contemporary China Editorial Committee, Foreign Trade in Contemporary China, Beijing: Contemporary China Publishing House, 1992.
- 8.
In the nearly 30 years from the founding of the People’s Republic of China to 1978, China did not invest in any trade companies and standing institutions overseas except trade companies in Hong Kong, China and Macau (China) as well as a representative office of the China National Import and Export Corporation in Berlin. China’s trade links with countries around the world were mainly handled through commercial institutions of foreign consulates.
- 9.
Li Kanghua, Wang Shouchun, China’s Foreign Trade at the Primar y Stage of Socialism, Beijing: Foreign Trade Education Press, 1989, p. 17.
- 10.
The so-called “low level” meant that exported products were basically labor intensive, with low added value.
- 11.
In 1978, the export trade values of USA, West Germany, Japan, Britain and USSR accounted for 11%, 11%, 7.6%, 5.6% and 4.1% of the total exports of the world, respectively, even South Korea and Taiwan accounted for 1% each. See Li Kanghua, Wang Shouchun, China’s Foreign Trade at the Primary Stage of Socialism, Beijing: Foreign Trade Education Press, 1989.
- 12.
In 1976, in terms of the proportions of exports of some major countries and regions in their gross output value of industry and agriculture, 55.4% for West Germany, 30.4% for Japan, 22.8% for USA, 10.6% for USSR, and 55.1% and 35.6% for South Kora and Taiwan. See Li Kanghua, Wang Shouchun, China’s Foreign Trade at the Primary Stage of Socialism, Beijing: Foreign Trade Education Press, 1989.
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Pei, C., Wang, W. (2022). Loosening Control and Diversifying Trade Models, 1976–1978. In: China’s Foreign Trade. Research Series on the Chinese Dream and China’s Development Path. Springer, Singapore. https://doi.org/10.1007/978-981-19-5703-1_4
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DOI: https://doi.org/10.1007/978-981-19-5703-1_4
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