A Study On The Influence Of China's OFDI On Iron And Steel Export To Countries Along The One Belt And One Road

The article mainly starts from the perspective of the "One Belt and One Road" and aims to study the impact of Chinese direct investment on exports of iron and steel to countries along the "One Belt and Road".First of all,analyzing the development status of foreign direct investment and steel exports,and summarizing the new characteristics of Chinese direct investment along the "One Belt and Road"and steel exports.Secondly,combining the theory of Kojima's industrial shift and Markus-Sevenson's complementarity theory,the author analyzes the influence mechanism between the two.Finally,the article uses the multinational panel data of 59 countries along the line from 2007 to 2016 to conduct empirical research to quantitatively analyze the impact of China on the steel exports of countries along the "Belt and Road";and divide 59 countries along the "Belt and Road" into five regions.To further explore the differences in the impact of various regions.The results of the study indicate that:(1)Chinese direct investment in countries along the "Belt and Road" initiative has a major impact on steel exports,including the expansion of steel demand,elimination of trade barriers,and overcapacity in Chinese steel production;(2)Chinese "One Belt One Road" initiative.There is a complementary relationship between direct investment and steel exports of countries along the route,and there is a one-way causal relationship;(3)Chinese direct investment in ASEAN,South West Asia,and Central Asia is stronger than that of Mongolia-CIS and China.Eastern Europe;(4)The export potential of iron and steel in Mongolia-CIS and Central and Eastern Europe is greater than in ASEAN,South-West Asia and Central Asia.Finally,based on the research results,the article puts forward some policy recommendations such as(1)Rationalizing "de-capacity" and taking into account future steel export trends;(2)Differentiating investment to tap the market potential of countries along the route;(3)Building quality to avoid emerging trade barriers,and provides some references for China's direct investment in the countries along the "One Belt and one Road" and the development of steel export trade.