| With information coordination and declining transportation cost,the productive process presents an increasingly fragmented transnational characteristics.The transnational enterprises optimize configuration in all procedure links of production and trade globally along its value chain to form a division map for Global Value Chains(GVC)in procedure level for the products.Such a trend for the international division of labor no longer sticks to commodity trade based on the final products,instead,is transiting gradually to task trade dominated by intermediate products.With its own comparative advantage,China undertakes specific procedure link or productive task,then being incorporated into the GVC division system so that its export trade is expanded.The label of "Made in China",enjoys good fame around the world.However,it is shown in the latest data from WIOD statistics that China has general export in 2014 of 2,430 billion US dollars,with a year-on-year growth of 5.7 percent.The proportion of domestic value added of exported intermediate products is only 41.6 percent.The value of Chinese exported products includes production factors of both China and overseas.Therefore,China's real export capacity has been exaggerated to some extent for the characteristics of its trade---"large-volume import and export".In the meantime,the scale of Outward Foreign Direct Investment(OFDI)of China maintains a rapid growth.In late 2017,the foreign direct investment stock of China is up to 1,800 billion US dollars,first making it the second largest state in the world for OFDI.Participation in GVC division and OFDI has become two important modes for Chinese enterprise to conduct the international business.Under such background,researches are conducted in this article into three problems.First,what is the "real"division scale,structure and status of GVC in China at this stage;Second,how the OFDI influences China's participation in GVC division;Third,what is the effects of OFDI on the scale,structure and status of our GVC division at this stage.First,this article presents a theoretical framework of the trade accounting of value added and GVC proposed by Want et al.in 2017.On this basis,in terms of the scale,structure and status of the "real" GVC division of China,the definition is provided in this article about a country participating in GVC division at procedure level.WIOD database of 2016 version was adopted to measure the scale,structure and status of China's participation in GVC division.The above three aspects are respectively is represented by the proportion of value added of a nation in its exported intermediate products,that in a variety of its exported intermediate products and that of overall production length of the GVC.It is found in this article that there are three characteristics for China's participation in the global GVC division:first,the scale of a variety of GVC division sees a steady-state growth.The growth source mainly benefits by extension expansion in scale export of the intermediate products instead of intension type improvement for a country's value added proportion of unit intermediate product.Secondly,the GVC structure at technology level has been deepened,while the structure of GVC division at industrial structure level has been optimized.Thirdly,the status of Chinese GVC division has been improved slightly in fluctuation.Secondly,the paper involves the how OFDI affects China's participation in GVC division.On this basis,the article starts with the dynamic changes in comparative advantage to analyze the transmission mechanism where OFDI affects the home country's participation in GVC division.It also respectively presents a discussion on the feasibility for OFDI to the dynamic changes in comparative advantage,and on the effectiveness of the latter causing the changing GVC division.On this basis,the conduction mechanism,OFDI—dynamic changes in comparative advantage—GVC division,has been further sorted out and summarized from four aspects.The aspects are technological factors of the home country,the abundance and structure of the production factors,scale economy and trading efficiency.Finally,the article shows the impact of OFDI on the scale,structure and status of GVC division in our country at this stage.Conclusions are drawn through the approach of empirical analysis in this paper:First,China's OFDI promote the its participation in the scale expansion in GVC division,with a weakening promotion effectiveness on long-term basis.Secondly,there are differences in the promotion effectiveness of OFDI to the scale of simple and complex GVC division.At present,it is difficult for our OFDI to realize the deepening structure of its GVC division.Thirdly,the structure of our current OFDI goes against intension type optimization of the industrial structure for GVC division in China.However,OFDI has prominent effectiveness on extension optimization of industrial structure for our GVC division.Fourthly,China's OFDI remarkably boost the improvement for the status of its GVC division on long-term and short-term basis.However,it is noticeable that its long-term promotion effectiveness is less than that on short-term basis. |
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