Research On The Impact Of RCEP Regional Value Chain Embedding On The Carbon Embodied In China's Manufacturing Export Trad

With export-oriented processing trade model embedded in the global value chain,China has been "locked" in the low and middle-end production activities.While creating limited domestic value added of exports,China has produced massive carbon emissions embodied in exports,which bears the unbalanced pressure of energy conservation and emission reduction.It can not be ignored that the current global value chain is undergoing reconstruction in uncertainty,and the trend of value chain regionalization is accelerating.As the largest free trade agreement in the world,the implementation of RCEP not only injects vitality into the economic recovery and trade cooperation of RCEP member states,but also provides an opportunity for China to lead the regional value chain enabling the construction of "dual circulation" and find a regional carbon emission reduction path to achieve "carbon peaking and carbon neutrality" goals.Therefore,it is of great practical significance to explore the actual relationship between RCEP regional value chain embedding and carbon emissions embodied in China’s exports.Firstly,the paper comprehensively combs the existing research on regional value chain and carbon emissions embodied in exports,reviews the relevant theories of the relationship between trade and carbon emissions,and explains the direct and indirect mechanism of regional value chain embedding on carbon emissions embodied in exports based on the decomposition model of carbon emissions embodied in trade detailedly.Then,from the perspective of RCEP regional embedding,the paper establishs the decomposition model of regional trade of value added and puts forward the measurement methods of RCEP regional value chain embedding and carbon emissions embodied in export under a unified framework.Using the raw data of input-output table and carbon emissions from production of OECD,we list the typical facts respectively from the country and industry levels.Finally,the paper builds a panel regression model to empirically explore the impact of RCEP regional value chain embedding on carbon emissions embodied in China’s manufacturing exports and its mechanism,identifies the heterogeneous characteristics of different embedding modes,different technology-intensive manufacturing sectors and captures the moderating effect of regional value chain embedding position,functional division and cooperation model reshaping.The results show that:(1)The overall participation of RCEP regional value chain significantly increases the carbon emissions embodied in China’s manufacturing exports,mainly because the trade scale effect and trade structural effect caused by RCEP regional value chain embedding have promoted the carbon emissions embodied in China’s manufacturing exports more than the inhibition of technical effect.(2)The forward participation of RCEP regional value chain reduces the carbon emissions embodied in China’s manufacturing exports,while the backward participation significantly increases the carbon emissions embodied in exports.(3)The forward participation reduces the carbon emissions embodied in China’s exports of low-tech-intensive manufacturing industries,and increases the carbon emissions embodied in China’s exports of hightech-intensive manufacturing industries.The effect of overall and backward participation are always positive in different manufacturing industries.(4)Embedding higher position of RCEP regional value chain division,embedding functional plates of upstream headquarters economy and downstream logistics and retail and after-sales service in RCEP regional value chain,and the cooperation mode and depth reshaping of embedding RCEP regional value chain are all conducive to reducing the carbon emissions embodied China’s manufacturing exports.Based on the main research conclusions,the paper puts forward relevant countermeasures and suggestions:(1)Take advantage of the core position of RCEP regional value chain to improve control.(2)Leverage RCEP to improve export scale and structure and enhance technical strength.(3)Optimize the embedding mode of RCEP regional value chain and extend high-end functional activities.(4)Make use of RCEP to warm up the internal and external demand market and maintain the safety and stability of the industrial chain.