South Korea'S Total Trade Volume Of China'S Exports Of Synthetic Fiber Raw Materials Accounted For 83%

According to the macroeconomic analysis of the Korea Institute for foreign economic policy, if mainland China's economic growth rate is down by 1%, it is estimated that the growth rate of South Korea's economy and exports will be reduced by 0.38% respectively, especially when South Korea's exports to China will be reduced by 2%.

It is reported that between 2010 and November, the 1 sides were bilateral. Trade The total value is 164 billion 800 million US dollars, accounting for 21% of the total trade volume of Korea, which is higher than that of the United States (10.2%) and Japan (10.4%). At the same time, Korea's exports to China amounted to 24.9%.

The decline of the advanced countries such as Europe, Japan and other countries has been affected by the rapid growth of about 10% of China's mainland. This year's economic growth is more than 6%.

This year, South Korea's exports to China increased by 36% compared with last year, resulting in an increase of 29.7% in total exports. South Korea's trade surplus with China is US $39 billion 100 million, which is higher than Korea's Global trade surplus of US $34 billion 700 million.

Korea's prices are also deeply influenced by the mainland of China. Imported The proportion of consumer goods accounts for 34% of total imports. Inflation in mainland China is likely to bring about price instability in Korea. According to expert estimates, if mainland China's economic growth rate remains 8 to 9% next year, it will have little impact on the Korean economy, but if growth rate is below 8%, South Korea will inevitably be affected.

According to the Korea Institute of industry, South Korea Synthetic fiber raw materials (83%) petrochemical raw materials (73%), display manufacturing equipment (62%), batteries (58%) and flat panel displays (55%) are highly dependent on China's exports. Although these products are exported to advanced countries after assembly in mainland China, they may be subject to tightening in mainland China.

However, most experts predict that the possibility of tightening austerity policy in mainland China is not high. According to Chi Nan, Chi Chi, director of China's Foreign Policy Institute, the recent rise in mainland China is not due to overheating of consumption and investment, but also to the rise in prices of agricultural products and imports. It is predicted that the mainland Chinese government should not impose severe austerity policies to affect the boom.