新华时评丨所谓“中国经济再平衡”是个伪命题

Core Viewpoint - The notion of "China's economic rebalancing" is deemed a fallacy that ignores the structural characteristics of China's economy and its high-quality development [1][3]. Group 1: Economic Structure and Trade - China's manufacturing export scale is larger than that of other countries, but the proportion of exports to GDP has been declining since 2010, currently lower than that of Vietnam, Germany, and South Korea [1]. - China's imports are also increasing, with the 2024 goods trade imports projected to exceed $2.64 trillion, a tenfold increase since 2000 [1]. - The foreign trade dependence of China is now lower than that of South Korea, Germany, and Japan, indicating a shift towards domestic consumption and investment as the main drivers of economic growth [1]. Group 2: Global Economic Integration - China's competitive advantage in manufacturing results from both its own development efforts and deep participation in global industrial division [2]. - The country has continuously improved its business environment and attracted foreign investment and technology, providing a solid foundation for manufacturing development [2]. Group 3: Innovation and Global Value Chain - China's manufacturing sector is transitioning from low-end to high-end production, significantly contributing to global technological innovation and industrial upgrades [3]. - The export of Chinese electric vehicles is driving the global automotive industry towards electrification and intelligence [3]. - Multinational companies are increasingly establishing R&D centers in China, reflecting its evolution from a "world factory" to a "world innovation laboratory" [3].