Does Manufacturing Revitalization Strategies In Developed Countries Discourage Industrial Exports From China

After the international financial crisis in 2008,developed countries such as Europe and the United States began to re-examine the relationship between the real economy and the virtual economy,and re-launched the manufacturing revitalization strategy to reshape the economic competitive advantage.At the same time,China is also in a critical period of economic transformation.The revitalization strategy of developed countries will inevitably have an impact on China’s economy,especially in terms of export.This paper takes 24 developed countries as the research object,explores the transmission mechanism of developed countries’ revitalization strategy to China’s export and conducts empirical analysis,and proposes corresponding policy recommendations on this basis.This paper first analyzes the transmission mechanism that the manufacturing revitalization strategy of developed countries affecting China’s export.It believes that the manufacturing revitalization strategy of developed countries will affect Chinas export from two aspects:industrial restructuring and market competition.Secondly,this paper obtains the panel data of the 1979-2016 aggregate level and the 1992-2016 industry level of 24 developed countries,and uses the augmented trade gravity model and different methods to conduct empirical research from the aggregate level and the industry level.The research results show that the manufacturing revitalization strategy has a significant negative impact on China’s industrial exports.At the same time,the empirical results indicate that the influence of developed countries’ manufacturing revitalization strategies on China’s export is due to the industries to which export products belong.That is,it has more significant impact on Chinals capital-intensive and technology-intensive exports than labor-and resource-intensive products.This paper also use another proxy variable,the proportion of manufacturing added value to GDP,to expand the research.The research results show that the proportion of manufacturing added value to GDP in developed countries has a significant negative impact on China’s industrial exports.Finally,this paper proposes relevant policy recommendations on the research conclusions.