Research On The Impact Of China-ASEAN Free Trade Area On The Participation Of Major Member Countries In The Global Value Chain

Since the 1990 s,the rise of global value chains(GVCs)has gradually changed the traditional geographic direction of international trade and the pattern of international trade.After the global financial crisis,the long-term weakness of the world economy,especially the rise of trade protectionism,has intensified the rise of "anti-globalization" trend of thought.At the same time,in the field of international trade governance,the failure of the global multilateral mechanism has led countries to shift to more flexible bilateral and regional rules in order to achieve deeper and more convenient international cooperation.As the largest free trade area in the world,China-ASEAN Free Trade Area is composed of developing countries.A thorough study of it will contribute to the implementation of the strategy of China’s free trade area and the construction of a new pattern of reform and opening-up.This paper is based on the theory of free trade area and global value chain.On the basis of existing literature,according to Koopman’s GVC status index and GVC participation index based on decomposition of a country’s total exports.This paper makes a comparative analysis on the situation of manufacturing and service industries in China and ASEAN member countries,and divides manufacturing industry into three categories: high-tech,high-tech and low-tech.This paper also compares the export trade between China and ASEAN from the perspective of added value.Finally,this paper makes an empirical analysis on the impact of the participation of member countries in global value chain by constructing panel data model.According to the above framework,this paper argues that China has a higher status of global value chain than ASEAN as a whole,while ASEAN has a higher degree of participation in global value chain.China’s status in the global value chain has a gradual upward trend from 2005 to 2015,but ASEAN is basically stable.In bilateral trade between China and ASEAN,China’s share of added value has a more obvious upward trend.The effect of China-ASEAN Free Trade Area on the global value chain is mainly through enhancing the backward participation of member countries to further integrate into the global value chain.