摘要
This paper comprehensively reviews China＇s openness since 1978 from three aspects： trade, foreign investment and global production sharing. We point out that the economic development of China is now standing at a historic turning point. Specifically, economic changes in China are discassed from four dimensions： （i） from China being a world assembly line to a world manufacturing powerhouse; （ii） from China being a world capital receiver to a world investor; （iii） from China being a world factory to a world market; and （iv） from the situation of ＂made in China＂ to ＂innovated in China.＂ At the same time, the global economic system has also reached a turning point. A ＂North America-Europe-Asia ＂ tri-polar system has formed, in which the USA, Germany and China, respectively, serve as the regional core economies.
This paper comprehensively reviews China＇s openness since 1978 from three aspects： trade, foreign investment and global production sharing. We point out that the economic development of China is now standing at a historic turning point. Specifically, economic changes in China are discassed from four dimensions： （i） from China being a world assembly line to a world manufacturing powerhouse; （ii） from China being a world capital receiver to a world investor; （iii） from China being a world factory to a world market; and （iv） from the situation of ＂made in China＂ to ＂innovated in China.＂ At the same time, the global economic system has also reached a turning point. A ＂North America-Europe-Asia ＂ tri-polar system has formed, in which the USA, Germany and China, respectively, serve as the regional core economies.
基金
We thank Yacheng Yang and Chunrui Liu from Tsinghua University for providing very helpful research assistance. This work was supported by the National Natural Science Foundation of China （No. 71503047）, the Beijing Social Science Foundation （No. 15JGC 162）, and the Fundamental Research Funds for the Central Universities of the University of International Business and Economics （No. 16YQ02）. 1In this paper, ＂China＂ refers to ＂Chinese mainland.＂
