The“Re-industrialization”Strategy Of The Us Influence On The Competitiveness Of China’s Manufacturing Industry

The subprime crisis of 2008 has bogged down the economic development of the United States,which also made the authorities realize that it is unjustifiable to count on the virtual economy in order to achieve the long-term sustainable development.Therefore,the Obama government began to attach more importance to the real economy.In 2009,it proposed the “re-industrialization” strategy from a national-level perspective aimed at reviving its manufacturing industry and achieving the absolute dictatorship in the future by utilizing the advanced technology.Consequently,this decision would inevitably reshape the pattern of manufacturing industry world-wide.It is widely acknowledged that manufacturing industry has always been the driving-force of our economy and America is our largest manufacturing export market.Hence,should we concern that the “re-industrialization” would pose a threat to the development of our manufacturing industry? That’s the main objective and significance of this study.With the tools of RCA index,MS index and TC index,this thesis attempts to evaluate the real position of competitiveness of China’s manufacturing industry at the world-wide level by exploring the data from 2000 to 2017.Further,taking the "diamond model" as the theoretical basis and "re-industrialization" strategy as an external shock,this thesis empirically analyses those factors that will impact the competitiveness of our manufacturing industry by using the principle component analysis(PCA)and multiple regression analysis.The results show that the implementation of the "reindustrialization" strategy in the United States has a positive impact on the competitiveness of China’s manufacturing industry overall,but this impact is heterogenous if it is broken down into more segmented industrious level.For instance,it poses a negative effect on the competitiveness of both low-tech and high-tech industry while it has a positive influence on resource-based and middle-tech industry.In addition,this thesis also verifies that effect of influence factors such as labor cost,GDP per capita,industrial scale and productive service industry on China’s manufacturing competitiveness varies explicitly according to different industrial characteristics.In the end,based on the analysis of this paper,some relevant policy recommendations are put forward to improve the competitiveness of China’s manufacturing industry.