(1) Import substitution: The main method is to restrict the import of basic consumer goods by using high tariffs and quantitative measures, and at the same time encourage the import of raw materials and technical equipment needed by industry by using overvalued exchange rate, so as to support the development of emerging industries in China and realize the import substitution of basic consumer goods.

(1) Advantages:

(1) lay the initial industrial foundation of a country;

Give full play to the advantages of domestic resources;

Ensure that foreign exchange is used in the most critical places.

(2) Disadvantages:

(1) hinders the development of exports and leads to the deterioration of the balance of payments;

(2) ignoring the development of non-import substitution sectors;

③ Reject competition and reduce the overall economic efficiency.

(2) Export-oriented: its main feature is gradually moving closer to the equilibrium exchange rate, and some still underestimate the exchange rate to encourage exports; Cancel the quantity limit.

(1) Advantages:

(1) is conducive to obtaining comparative benefits;

(2) introducing competition mechanism;

③ Promoting export development;

④ Adapting to international trade norms.

(2) Disadvantages:

(a) prone to imbalance in foreign exchange payments;

② Great dependence on foreign countries.