As the novel coronavirus spreads around the world，opponents of globalization are making fresh inroads in policy making and public opinion. Measured by the proportion of world exports to global GDP，the year 2008 saw the peak of globalization，with the ratio reaching 25%. From then on，the proportion has been volatile，slipping back to 23% by 2018. Since the second half of 2018，trade tensions between China and the United States have flared. The US imposed 25% tariffs on US$50 billion and then on US$200 billion worth of imported Chinese goods，alongside a 15% tariff on goods worth about $120 billion. China has introduced countermeasures.

Under the effects of these tit-for-tat measures，total global exports fell 3% in 2019，and the anti-globalization trend grew stronger. In 2020，the novel coronavirus pandemic pushed 44 countries to shut their borders. According to an International Monetary Fund forecast，170 countries will see negative economic growth this year. Concerns over the anti-globalization trend have been mounting as the world economy heads into recession and foreign trade cooperation has faltered.

As the first country to experience the coronavirus outbreak – a country that accounts for nearly 10% of total global trade and bears the brunt of higher US tariffs — China has been a focus of attention as to how it will respond to the anti-globalization trend. This paper analyzes China's foreign trade situation and makes suggestions on a possible course of action.

Impact on China's Economy