A Comparative Study Of China And Thailand's International Trade In Services Development

In the era of globalization,rapid development of information&communication technologies,along with trade liberalization and ever-deepening economic diversification have been the key driving forces behind the exploding growth of trade in services.International trade in services is vital to both the Chinese and Thai economies,and it plays an important role in economic development,job creation,and improvement of national competitiveness.In recent years,the development of China and Thailand's International trade in services has been exceptional,and it has gradually become one of the important sources of foreign exchange earnings.The gro.Arth of international trade in services has outpaced trade in goods,meaning international trade in services may play a greater role in the domain of international trade.It is,therefore,of great practical significance to conduct comparative research on China and Thailand's international trade in services and to promote the development of international trade in services between the two countries through comparative analysis.In this paper,the research objects are China's international trade in services and Thailand's international trade in services,and a comparative study of the development of international trade in services between the two countries.The paper is mainly divided into three parts:The first part consists of the analysis of the development history,the scale of trade,balance and structure of China and Thailand's international trade in services through literature analysis and statistical data compilation;The second part embodies the usage of data of China and Thailand's international trade in services from 2005 to 2017j a combination of qualitative and quantitative methods,and then calculate and comparative analyses by using Revealed Comparative Advantage Index and International Market Share Index,comparative analysis of international trade in services development status of both China and Thailand,competitiveness,plus,laws and regulations;The third part concludes key research findings into suggestions on how to promote the development of China and Thailand' s international trade in services.The results of this study revealed that:Scale and balance of trade wise,China's international trade in services has grown rapidly in scale but with a trade deficit,while the opposite is true for Thailand;Trade structure-wise,China and Thailand's international trade in services are concentrated on traditional international trade in services,especially in the tourism sector;Competitiveness wise,the analysis of Revealed Comparative Advantage Index and International Market Share Index(derived from 2005-2017 data series)showed that even though Thailand's international trade in services seemingly has stronger international competitiveness,China has managed to secure a higher market share;last but not least,from the legal perspective,both countries should improve their laws and regulations on trade in services.According to the results of the study,it is suggested that China needs to expand the opening up of service industries,focus on the development of emerging trade in services and improve to the management system of trade in services.And Thailand needs to determine the direction of development and formulate incentive policies,enhance the skills of Thai entrepreneurs to increase international competitiveness and improve the Relevant laws of trade in services.