earticle

영어

This is a study of promoting China free trade under China-US economic trade friction. China and the United States are the two largest economies in the world, and the China-US economic and trade friction has had a profound impact on world economy and trade patterns. The worsening of this economic and trade friction has caused a new round of changes in the global economy and trade. With such a backdrop, China and the United States will certainly consolidate and expand other trading partners to hedge their own losses. Scholars have confirmed that this economic and trade friction has caused a decrease in the total volume of trade between China and the United States, and even the world at large, but the allied countries that have close trade relationships with China and the United States have gradually expanded the shares of their external trades. Simultaneously, against the backdrop of this China-US economic and trade friction, China has started adjusting the share of its international trading partners, gradually decreased its dependence on developed economies such as European countries and America, and boosted its trade diversification, thereby dispersing trading risk. Additionally, China is actively seeking industrial restructuring, has put forward the concept of ''new infrastructure'', and has increased governmental support for chips, new energy, and the digital economy, while it is determined to vigorously develop high-end manufacturing, intelligent manufacturing, biomedicine, and aerospace industries. On the other hand, South Korea has mature and advanced industrial systems and advanced technical research and development mechanisms. Therefore, both China and South Korea have their own relative advantages in trading. Although a China-South Korea free trade agreement (FTA) has been reached, the utilization rate of the FTA remains to be raised. Moreover, there are relatively few trades in the high-end industry between China and South Korea, and China-US economic and trade friction is both a challenge and an opportunity for China and South Korea, which are the most important trading partners for each other. In the present study, the rich practical experiences and achievements obtained based on FTA strategies in China and South Korea were reviewed, the problems in the FTA strategies in the two countries were proposed, and the probability that China-South Korea free trade can be deepened according to these problems was analyzed. This study aims to provide new ideas for the industrial adjustment and establishment of innovative systems that deepen China-South Korea free trade. Regional strategic cooperation promotes regional economic development. Thus, China and South Korea start from free trade, learn from the world's advanced FTAs, and continue to innovate, thereby jointly injecting a new impetus into the world economy.