Research On The Global Trade Governance Under The Background Of Value Chain Division Of Labor

The world economy has been struggling in the more complex and changeable international economic environment after the global financial crisis.The world economic growth has been in a state of decline.As an important part of global economic governance,the situation of global trade governance is more difficult because it has fallen into more severe environment and it now in transition periods: there are structural problems in the global scope,the results of stimulus policies are not as expected--all these problems lead to trade protectionism.Since international trade environment is full of uncertainty and volatility,global trade growth in recent years is lower than economic growth.The deepening of GVCs division of labor pattern and the profound change in global economic structure require global trade to make corresponding adjustments and reforms in the contents of governance and governance structure,however,both multilateral trade governance and regional level are seriously lagging behind the economic development needs--multilateral trade negotiations include few GVCs trade issues behind the border,and the traditional negotiations for a variety of internal and external reasons have been in stasis for a long time;Although the regional trade agreements played a leading role in the formulation and implementation of the GVCs trade rules,there are also many problems: on the one hand,the coverage of trade issues related to GVCs can not meet the current status of the development of value chain trade;on the one hand,the depth of trade rules in different RTAs are uneven,the representation of rules for the same issue are significantly differnet,since there are a lot of RTAs,it has formed a complex network;the most important problem is that the influence of new trade rules which are dominated by the major powers on the GVCs trade scale and the upgrading in the value chain is uneven,and mega regional trade agreements have the risk of fragmenting and excluding the global trade governance,they has threatened the central position of multilateral trading system in the global trade governance.In the governance structure,there is a democratic deficit problem in both multilateral and regional trade governance,and it lacks of coordination with global investment and financial governance.Global trade governance is lack of inclusiveness and legitimacy.Only the global trade governance both fairness and efficiency,its structure and content keep up with the Times can it ensures the orderly development of international trade in a stable and transparent trading environment,and countries can share the interests of globalization and the international division of labor.In order to analyze the global trade governance under the background of the value chain division of labor,this paper adopts the methods of literature research,empirical research,interdisciplinary,quantitative and qualitative analysis.The article consists of seven parts.The first chapter is the introduction which introduces the research background,significance,main contents,innovations and deficiencies;the second chapter is the theoretical basis and the definition of some related concepts;the third chapter and the fourth chapter analyses the development of international trade and the global trade governance characteristics under the background of GVCs division respectively;the fifth chapter constructs the global trade governance index system,then use the panel model and threshold panel model reseraches the impact of global trade governance on the GVCs trade scale and the GVCs position changes of countries;the sixth chapter analyzes the future path selection of Global trade governance,the last chapter is the conclusion and enlightenment.Based on the above research,the main conclusions of this paper include:First,under the background of GVCs division of labor,international trade presents the characteristics of regional structure imbalance and a great part of trades are dealed within region,most value chain trade concentrated in Europe,North America,East Asia and Southeast Asia and intra regional trade are in large scale;the complex nature of the international trade made it changes from global circulation behavior to the circulation and production behavior,and now trade competitiveness more depends on the flow of factors;the political economy of international trade negotiations and the contents are also changed.The rules behind border has become the focus of negotiations.Another features of GVCs trade contain the imbalance of trade interest distribution,the interdependence of each country is enhanced and the asymmetry is outstanding,developing countries are in more severe situation.Second,the characteristics of the current global trade governance including: in governance form,global trade governance coexists multilateral,regional,bilateral and Country groups governance modes,but RTAs played a pioneering role in the value chain trade negotiations and the formulation of trade rules,the central role of WTO in the global trade governance is in erosion;in the structure aspects of governance,the unreasonable problems mainly presented in three aspects: democratic deficit,trade rules lag behind the development of international division of labor,global trade governance lack of organic links with financial and investment management.Third,on the backgroud of GVCs division of labor,reduction in the border barrier has promotion effects on the trade scale and their position in GVCs,while the influence of behind border barriers is imbalance on different countries: intellectual property protection(IPR)has different effects on diverse sample countries' trade volume and their position changes in GVCs,it has a promotion impact to deveolped countries while has inhibitory effect on the whole sample,developing countries and emerging economy groups;the impact of IPR on countries' trade volume and their position changes in GVCs has double threshold effect of technology and innovation;border barriers(tariff and non-tariff)and the banking crisis has inhibitory effect on all sample countries,in addition to developed countries,the devaluation of the currency hampers trade scale and upgrade;Other behind border rules and indicators affect trade all have promoting impact on the trade scale and upgrading in GVCs.In order to achieve a balance between policy autonomy and international policy coordination,international trade negotiations and rulemaking should adhere to the principle of fairness,democracy and the idea of open source.Fourth,when it comes to trade governance form,multilateral form will parallel with regional form in the future,the feasible path to recovery the center position of the multilateral trading system in the global trade governance is to multilateralize GVCs rules by plurilateral mode under the framework of WTO,while WTO should launch institutional and structural reforms,and strengthen the standardized management of RTAs.