Research On Trade Benefits Of High-tech Manufacturing Industry Between China And The United States In The Background Of Global Value Chain

Since the establishment of diplomatic relations between China and the United States,bilateral trade in goods has developed quickly.However,in recent years,trade frictions between the two countries have intensified.The focus of trade friction between the two countries is mainly in the field of high-tech manufacturing.In the high-tech manufacturing trade between China and the United States,the traditional customs statistical methods lead to the "statistical illusion" of China's high-tech manufacturing exports Therefore,it is urgent to explore the real profits of China in the high-tech manufacturing trade between China and the United States.Therefore,based on the world input-output table,this paper uses data from 2000 to 2014 and uses the trade value-added method to estimate the value added and the value-added rate of the high-tech manufacturing industry of China and the United States as a whole and in the subdivided industries,to evaluate the profits of both sides in the trade,and to clarify the distribution pattern and change trend of trade benefits.The results show that the domestic value-added of China's high-tech manufacturing industry grows rapidly during the research period,but the domestic value-added rate is significantly reduced;the domestic value-added of the United States shows a fluctuating growth and the overall change range is not significant.In the subdivided industry,China's domestic value-added growth rate is faster than that of the United States,however the domestic value-added rate is relatively low and going down,with obvious industry differences.It can be seen that China's high-tech manufacturing industry still relies heavily on the import of American intermediate products,and the trade benefits show a situation of large amount but small profit,while the United States keeps gaining trade benefits and has more initiativeIn order to further explore how China's high-tech manufacturing industry can improve the profitability of its exports to the United States,this paper establishes a panel data model to find out the factors that affect the domestic value-added of China's high-tech manufacturing industry's exports to the United States.The results show that factor endowment,technological innovation,economies of scale,foreign direct investment and government investment have different effects on China's high-tech system manufacturing industry,which has a positive impact on the increase of domestic value-added of US exportsFinally,based on the conclusions,this paper puts forward the following suggestions on how to improve China's profitability in the high-tech manufacturing trade between China and the United States For instance,China should pay attention to strengthening the quality of its own development,reducing its dependence on the United States in high-tech intermediate products;at the same time,it should pay attention to optimizing and upgrading the industrial structure,coordinating the development of subdivided industries;deepen the development of industries,and improve the trade profitability.In the face of trade frictions,we should actively face various problems,avoid the escalation of trade frictions between China and the United States,promote the improvement of the statistical caliber of value-added trade,and formulate targeted trade policies,so as to effectively improve the trade benefits of China and the United States.