Abstract:On the whole，high-income countries’ industrial competitiveness shows a trend of product diversification. There are primary products，such as cereals and raw skins，as well as manufactured goods，such as pharmaceuticals，machinery and transport equipment. From the perspective of typical countries，Australia has a strong international competitiveness in primary products due to its developed agriculture，animal husbandry and abundant natural resources；because of its strong manufacturing capability，Japan，Germany，Korea have strong competitive advantages in manufactured goods；The United States shows that the competitiveness of primary products is stronger than that of processed products. From the perspective of trade relations，in addition to the large surplus between China and the United States，China has trade deficits with Japan，Korea，Germany and Australia. China’s exports are mainly at the low end of the value chain，mostly for processing and assembly；while China’s imports are diversified，which vary from country to country. The economic and trade relations between countries are closely related to their economic structure，trade imbalances need to be properly understood. On the one hand，China should make full use of the WTO dispute settlement mechanism to resolve economic frictions，on the other hand，it needs to coordinate economic and trade relations with high-income countries through various means such as foreign direct investment，promoting product transformation and upgrading，and accelerating the cultivation of diversified export market structures.
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