Global Value Chain, Trade In Value-added And Measurement Of Sino-US Trade

Under the view of global value chain, the core of maintain trade interests growth lies in the pursuit of trade value added. Since the Sino-US trade negotiation has been launched, with the rapid development of bilateral economic and trade relations, the debate on Sino-US trade imbalance is becoming more and more intense. How to measure China’s real trade interests in the bilateral trade activities has become a leading research field in the study of international trade.This paper carries on a theoretical analysis to the trade interests transmission mechanism in global value chain in the first part. As trade interests, trade value added can be deconstructed into division profits and trade profits. In the level of division profits, according to the theoretical model analysis, the global value chain specialization would improve a country’s absolute gains of division, but relative gains in different link of the global value chain would be different. Based on the current situation of Sino-US trade: in the level of trade profits, the globle value chain would improve the overall level of world trade profits, but also lead to the analysis of trade interest may not be accurate by traditional trade statistical indicators. Secondly, this paper takes the Sino-US trade practice as the object of study, from the division of labor and trade two different aspects measure Sino-US trade interests. During the past ten years, this part makes a qualitative analysis in China manufacturing exports to US in the level of division profits, concluding that processing trade, which importing components and semi-manufactures for deep processing to re-import, is still the main style of China. Thus, China is far away from the core strategy link of value chain. In the theoretical framework of global value chain division, through the Inter-Country Input and Output table modle to quantify our manufacturing exports to US and redefine China’s trade interest, which according to the different industrial sectors. Generally speaking, during the past 11 years, China’s trade gains in the exports to the United States have not risen substantially in the manufacturing sector; different intensity factor of industries have significant differences, labor intensive export industries value added is higher than that of technology intensive. But in the relative indexes, the domestic value added content of each sector is generally declining. Finally, this paper put forward the corresponding recommendations to improve China’s trade welfare, including these three aspects: participate in international division of labor in greater depth and a larger scale, add advanced prodution factors input and improve the trade structure.