stern food being made at
irst four months of this year, the country's actual use of for
homeJust oneirst four months of this year, the country's actual use of for
homeJust oneeign capital incr▓eased by 6.4 percent year-on-year, and the total value of its imports and exports rose by 4.3 perc▓ent. Trade between China and other Belt and Road countries ▓is growing by
9.1 percent, 480 basis points higher than the overall growth rate for trade. And the second Belt and Road Forum for International Cooperati▓on witnessed the signing of over 100 bilateral ▓co
operation documents involving more than 64 billion U.S. dollars of capital. The diversification of China's in▓ternational markets has increased the ability of its economy to weather risks. The global industrial chain, which ▓was structured according to the demands of all countrie▓s and to the laws of the market economy, is something ▓the United States is incapable of dismembering.In the me▓antime, the annual average contribution of domesti▓c demand to GDP growth surpassed 100 percent between 2008 and 2017, and domestic demand has become the driving force for China's economic development. Moreover, Ch▓ina's dependence on foreign trade has fallen to around 33 percent. This indicates that a more powerful home market is coming into being a▓s China pushes ahead with supply side structural reforms amid increasingly str
ong demand. Thi▓s in turn facilitates the country's industrial u▓pgrading and helps to improve the competitiveness of Chines▓e enterprises.No sensible entrepreneur would belitt▓le China's huge consumer market. The country a▓lso boasts some 110 million businesses, including more than 34 million enterpris▓es, which are themselves major consumers. Ta▓ken t
ogether, these two forces of c
onsumption provide a lot of ro
om for high-quality domestic develop
ment at a time when the coun
try faces external challenges.Whereas China's dependence on foreign trade has been▓ decreasing, the dependence of the United States on internat▓ional markets remains quite high. China's market ▓was consuming 60 percent of the s
oybeans grown in the United States, until the United States government hiked tari▓ffs, which led to a sharp fall in soybean ex▓ports