The international service industry in China
The international service industry in China has grown significantly in recent years, becoming increasingly competitive in the global market. This increase in competitiveness has had a tremendous impact on the Chinese economy, spurring economic growth and creating new opportunities for both domestic and foreign businesses. This paper will evaluate the impact of the competitiveness of international industry service trade in China, with a focus on the period between 2016 and 2022. As of 2019, China is the world’s largest exporter of services, with a total service trade value of 1.3 trillion US dollars. This trade has largely been driven by the increasing competitiveness of the Chinese market, with Chinese firms offering competitive prices, quality services, and cutting-edge technology. This has enabled Chinese firms to penetrate the international market, with many of the leading international firms using Chinese-made services to meet their needs (Baker, 2020). As a result, the competitiveness of China’s service trade has helped to spur economic growth and development. The impact of the competitiveness of China’s service trade has also been felt in the labor market. The increased competition in the market has led to a significant rise in wages for Chinese workers, as well as an increase in job opportunities. It has also allowed for greater mobility of labor, with Chinese workers now able to find jobs outside of their home country (Baker, 2020). This has enabled them to take advantage of. Cont…
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