The Impact Of Overseas Infrastructure Investment On The Export Of China's Service Trade

The degree of infrastructure improvement is related to a country's enterprise development,residential life,social welfare and other major issues.The impact of a country's domestic infrastructure investment on the development of trade in economy and service trade has been confirmed by many research,while there are little paper confirm that the relationship between overseas infrastructure investment and export impact of the host country's current service trade.Under the “One Belt,One Road”strategic background,in the next five years,infrastructure investment in the countries along the “One Belt and One Road” will reach US$10.6 trillion.Such a huge amount of economic investment has greatly promoted China's economic growth and service trade development.However,it is not clear that overseas infrastructure investment will promote the export of China's service trade.Therefore,we must clarify the impact of overseas infrastructure investment on the export of China's service trade,and focus on the established impact path.It is important for the country to adjust the structure of its products,industries,and economic and trade structure.The research idea of this paper is: Firstly,define the research background and define the research object of this article,that is,the impact of overseas economic infrastructure investment on the export of China's service trade;Secondly,organize the existing literature,expand the research object appropriately,and seek the external The relationship between direct investment and service trade has a preliminary demonstration of the impact between the two;then it analyzes the status quo of China's overseas infrastructure investment and service trade,and refines the problems existing in China's service trade;then,it uses the Keynesian multiplier effect.Based on the analysis of the direct and indirect impact mechanisms of the three basic economic investments of public facilities such as transportation,energy,and water conservancy facilities on the host country's service trade,and empirical analysis using a combination of quantitative analysis methods;finally,draw conclusions and propose policy recommendations.The analysis method is mainly the combination of theoretical analysis and empirical test: firstly analyze how the overseas economic infrastructure investment affects the export of service trade in the host country and lay a theoreticalfoundation;then build a time series data model for empirical analysis.Mainly to solve two problems:(1)whether overseas infrastructure investment promotes the export of China's service trade;(2)how to optimize China's investment in infrastructure abroad to make it better promote the development of China's service industry.Through research,it was found that:(1)Infrastructure investment has a strong structural Keynesian multiplier effect,which can pull primary raw materials such as coal,petroleum,and iron ore,industrial products such as iron and steel,cement,machinery and equipment through the industrial chain,and Financial,R&D,sales,and other demand for production services.Overseas infrastructure investment,as a participant in China,industries directly related to infrastructure investment will also be affected by the same.On the one hand,related industries in the overseas infrastructure investment industry chain will be directly affected;on the other hand,infrastructure investment as a second industry will drive the development of service trade exports in the tertiary industry,especially the financial and R&D.The demand for productive services such as sales and sales,and tourism services,information services,business consulting,and logistics services that benefit from infrastructure investment will be indirectly affected.(2)Overseas infrastructure investment has promoted the export of China's service trade,and the economic infrastructure such as energy,transportation,telecommunications,and water conservancy and environment and other public infrastructure investments have a positive effect on China's service trade exports.Among them,the public infrastructure such as the water conservancy environment has the largest direct effect on China's service trade export,followed by the energy infrastructure investment,and the weakest effect on the transportation and postal services.Based on the above conclusions,this paper puts forward four policy recommendations:(1)increase investment in public infrastructure such as overseas water conservancy environment and further expand the markets of emerging countries;(2)stabilize the energy infrastructure investment market and gradually reduce the investment in transportation,post and telecommunications infrastructure Shares:(3)To vigorously promote the development of modern service trade,especially financial services;(4)To open preferential policies and encourage quality service companies toinvest in overseas markets.The possible innovations in this paper are:(1)Innovation in the relationship between the two research subjects.At present,there are few articles that study the impact of the structure of service trade between overseas infrastructure and host countries.(2)Empirical demonstration of the relationship between the two innovations.At present,the relationship between the two domestic academic research and the use of data model has not been involved.The inadequacies are: due to the difficulty in obtaining data,the time series has a shorter period of time,and the indicators that reflect the economic nature of overseas infrastructure investment are not comprehensive enough.It is necessary to further study the specific overseas infrastructure's pulling effect on service trade exports.