Research On The Impact Of Overseas Infrastructure Investment On Steel Capacity Cooperation Under The Background Of Exchange Rate Movements

At present,China has entered the new normal period of economy.The economic growth rate has shifted gear from the previous high speed to a medium-to-high speed,and more attention has been paid to high-quality economic development.With the weak development of traditional industry in China,the domestic market tends to be saturated,and the problem of overcapacity in the steel industry seriously hinders the adjustment and upgrading of industrial structure in China.While the majority of ASEAN countries are in the initial stage of industrialization.With the development of “the Belt and Road”,Chinese infrastructure investment in ASEAN has increased,and the ASEAN's demand for finished products related to steel has been stimulated.Through the steel capacity cooperation between China and ASEAN,on one hand,it is conducive to reducing the inventory pressure of Chinese steel industry and transferring domestic excess capacity;on the other hand,it is beneficial to promote the infrastructure construction of ASEAN countries,and improve the living standards of local residents.Therefore,under the background of exchange rate movements,the research on the impact of overseas infrastructure investment on steel capacity cooperation is in accord with the current economic background,which will contribute to the multi-level development of China-ASEAN capacity cooperation.First of all,based on the relevant theories of exchange rate movement,this study analyzes the influence mechanism of overseas infrastructure investment on steel capacity cooperation under the background of exchange rate movements.Secondly,it combines the current situations of overseas infrastructure investment and the advantages and disadvantages of China-ASEAN steel capacity cooperation,and analyzes the current influences of overseas infrastructure investment on China-ASEAN steel capacity cooperation under the background of exchange rate movements,so as to guide the in-depth study of this research.Thirdly,based on the background of exchange rate movements,Chinese steel inventory and railway mileage of ASEAN countries are selected as the measurements,using AMOS to build structural equation model,empirical analysis of the impact of Chinese overseas infrastructure investment on China-ASEAN capacity cooperation.At last,according to the results of the mediating effect analysis,this study puts forward relevant suggestions on strengthening overseas infrastructure investment and promoting steel capacity cooperation under the background of exchange rate movements,summarizes the full text and looks forward to the future.The results illuminate that Chinese steel inventory is less sensitive to exchange rate movements,while railway mileage in ASEAN countries is more sensitive to exchange rate movements;The increase of investment in overseas infrastructure construction is not only conducive to solving the problem of overcapacity in Chinese steel industry,but also can promote the improvement of infrastructure conditions in ASEAN countries,and help the successful completion of its industrialization.