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Foreign trade between China and the Czech Republic

Abstract: International trade is based on the mutual exchange of goods and services in which one country has a comparative advantage over another. The advantage may relate to the availability of raw materials, knowledge of technologies or the lower cost of production of a certain article. The advantage of such transactions is clear. Each country acquires goods or services that are too
expensive or cannot be produced in their own country. However, despite the advantages, there are also a number of obstacles to this trade. These obstacles are not only in the form of transport distances, but also customs barriers and administration.
In spite of the fact that China and Europe are relatively distant from each other, they have been trading together for hundreds of years. In this time, the structure and the amount of goods and services which are traded has changed quite substantially. The aim of this article is to analyse the structure of foreign trade between China and the Czech Republic.

 

Authors: Vojtěch Stehel, Petr Šuleř
Keywords: foreign trade, China, Czech Republic, balance of payments, GDP
Volume: 9
Issue: 3
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