Research On The The Effect Of Value Chain Stickiness Against External Shocks In Asian Pacific Trade Network

At the end of the 20th century,the development of economic globalization has deepened trade liberalization,and multiple trade areas and a network of multi-level global production and trade networks have been formed around the world.However,external shocks such as the internet bubble,subprime mortgage crisis,trade protectionism,and the COVID-19 have had a serious negative impact on the development of global value chains,and local production and trade networks may also be broken.The Asia-Pacific region has a large trade volume,close trade ties,and a sound trade network structure.The ICT industry is a country’s basic and pillar industry covering manufacturing and service industries.Therefore,relying on the ICT industry to study the effect of value chain stickiness in the trade network to resist or mitigate external shocks can provide certain academic support for the promotion of global value chain stability,trade network repair,and steady and strong economic recovery,which has important theories and reality significance.This thesis examines the characteristics,facts and main paths of the impact of external shocks on the Asia Pacific trade network of ICT industry,and expounds the internal mechanism of value chain stickiness against external shocks;Supported by the theory of trade viscosity and ICT industry trade data in the Asia Pacific trade network,this thesis analyzes the changes of ICT industry trade in and out when subjected to external shocks in the traditional trade network,simple value chain trade network and complex value chain trade network,and obtains the change relationship of value chain stickiness;Combined with the three dimensions of value chain stickiness,namely persistence,resistance and recovery,this thesis investigates the effect of trade viscosity and its three dimensions on the economic recovery of each node in the Asia Pacific trade network under external shocks.The results imply that value chain stickiness helps to resist external shocks.The stronger the value chain stickiness of countries in the trade network,the higher the ability to resist external shocks;The value chain stickiness of the central country of the trade network is significantly higher than that of the edge node,and its economic recovery speed under the external impact is faster than that of the edge country.The empirical analysis results show that in the Asia Pacific trade network of ICT industry,external shocks will enlarge the fluctuation range of the network,while the interaction between value chain stickiness and external shocks on value chain stickiness will reduce the fluctuation range of the network,which will help the network resist external shocks.In the traditional trade network,simple value chain trade network and complex value chain trade network,the effect of value chain stickiness against external shocks is different.Among them,the ability of value chain stickiness to resist external shocks is the strongest in the traditional trade network and complex value chain trade network,while the effect of simple value chain trade network is slightly lower than that of external shocks.Therefore,the national economic development should be based on the domestic business cycle,and the domestic and foreign business cycles should promote each other to strengthen the ability to against external shocks;the countries in the ICT industry Asia-Pacific trade network should aim to improve the network status,and deepen the internal and external regional networks.China’s trade partnership,get rid of excessive dependence on a single trading partner,seek diversified international cooperation,and establish a barrier to resist and mitigate external shocks.