| With the popularization and application of internet technology and information technology,the international transportation transaction costs has been declined,the international supply chain has been improved and the new international division of labor system which is characterized by fragmentation and decentralization has been matured under the background of economic globalization.Each value-added links of commodity production(including product research and development,product design,processing and assembly,marketing,etc.)has dispersed to become separate processes,constituting a “global value chain”(GVC)which services for cross-border exchange and value creation.The global value chain has a profound impact on international trade and investment.Countries participating in the international division of labor export their products and services to other countries as intermediate inputs firstly,then export these inputs after processing to form the final products and produce market value.Because this chain involves many times of cross-border return causing by intermediate products,using the traditional gross analysis method is bound to have the “duplicate statistics”.Therefore,in recent years,scholars all over the world have used the global inputoutput model and trade added value index to minimize the impact of double counting and trade distortion as soon as possible that can also clearly show the value contribution of countries in the international division of labor.With the large-scale development of trade in goods,the trade in productive service has also developed rapidly,including warehousing,logistics,transportation,finance and insurance.As a big country in service trade,China has a high scale in trade of productive service but its international competitiveness and internationalization level are still relatively low.In addition,China's comparative advantage of manufacturing industry still lies in the cost advantage because the manufacturing industry has long been in the middle and lower reaches of the global value chain.However,with China's advantage is disappearing in labor factors and the prices of land,raw materials and other productive factors are rising,the manufacturing industry is in a difficult “transformation and upgrading”,so producer services and its trade that are closely related to manufacturing industry are bound to be greatly affected.From a global perspective,in the United States,the producer services and trade in producer services are highly competitive because America has taken the lead in completing industrialization and is also a powerful country in global service trade.Therefore,it is necessary for China to learn from the successful experiences of developed countries in producer services and producer services trade to promote the competitiveness and internationalization.From the perspective of global value chain and using the global input-output model and value-added trade as methodological indicators,this paper compares the trade in productive service between China and the United States,teases out and summarizes the similarities and differences between the two countries to provide targeted countermeasures and suggestions for Chinese development in the trade of productive service.This paper compares the status and participation of global value chain,international competitiveness,structural decomposition of added value import and export,and decomposition of productive service trade between China and the United States to construct models and indicators.The specific conclusions are as follows:Firstly,China's capital-intensive service sectors such as communications,computer services,transportation and storage have a higher participation in GVC from the four indicators: GVC participation,GVC forward correlation,GVC backward correlation and GVC industry evolution coefficient.In addition,other knowledge-intensive services have a lower participation,especially financial,insurance and business services.The participation of labor-intensive services continue to decline,indicating that China is in economic transition and the advantages of service industries which mainly rely on labor input are no longer sustainable.American participation in finance and insurance is still relatively high,the situation is same in labor-intensive services,capital-intensive services and high-tech services.Judging from the forward correlation degree of GVC,Chinese capital-intensive service and knowledge-intensive services have a higher forward correlation degree,showing that Chinese capital-intensive and knowledge-intensive service industries are gradually merging with the global value chain as intermediate inputs.But the problem is that the GVC forward correlation between labor-intensive services and finance is very low.However,the forward correlation of U.S.productive service has not changed much,only the GVC forward correlation of financial sector has changed from rising to falling around 2008,which means that the American position as financial center has been weakening after the financial crisis.Judging from the backward correlation degree of GVC,China's productive services have declined to varying degrees,indicating that Chinese contribution to GVC through the import of intermediate products has been gradually declining.However,the American situation is relatively stable and its financial sector is still the most volatile with a trend from rising to falling around 2008.Judging from the GVC industry evolution coefficient,the GVC industry evolution coefficient of producer services in China and the United States are both greater than 0,indicating that both producer services in the two countries are evolving towards a higher level,i.e.from labor-intensive service to capital-intensive and knowledge-intensive services,and Chinese speed is faster than that of the United States.Secondly,the vast majority of Chinese productive services have a high international competitiveness from the improved indicator competitive advantage index,only labor-intensive services such as construction and maintenance lack competitiveness,but the competitiveness of maintenance service keeps on rising basically.In the capital-intensive services,the transportation/storage/postal sectors show a weak disadvantage,while the communication/computer sectors show a weak competitiveness which has been decreased,meaning that these sectors have a gap between developed countries.In the knowledge-intensive services,finance and insurance have the highest competitiveness,indicating that Chinese financial and insurance industries can face competition from foreign financial institutions.However,other departments have performed poorly,especially law,accounting and consulting,where the competitiveness is very low and lacking outstanding talents related to competitive advantages.In the United States,the competitiveness of producer services is relatively high,especially in knowledge-intensive services such as finance,law and consulting while only the transport/storage sectors have a low competitiveness.In the capital-intensive service sector,the competitive advantage of communication/computer services fluctuate obviously and the high-tech service has become a key export service product.However,the transportation/storage/postal services have a potential development and room for further improvement in its international market share.In the labor-intensive service,the United States lacks competitive advantage in low value-added laborintensive services such as construction service.Thirdly,from the structural decomposition of the value-added imports and exports in Sino-US productive services:(1)The added value export of Chinese productive services is mainly affected by the added value coefficient of Chinese domestic service,forward and backward international industrial linkages,foreign and domestic industrial linkages,the structure of foreign demand for productive services,the distribution of sources from foreign demand,the scale of demand for foreign productive services and other factors,showing that China is relatively successful in diversifying the service export market,the manufactured goods indirectly drive the export of productive services and exports of added value of productive services are directly affected by fluctuations in international market demand.In U.S.,the value-added exports of productive services are mainly affected by the changes in value-added coefficient,the degree of domestic industrial linkage,the distribution of service export destinations and the scale of service exports,indicating that the exports of productive services are greatly affected by the global economic fluctuations.There is a positive effect between the profits of the domestic productive service and the value-added exports in the United States,meaning that the increase of the value-added exports in productive services still lies in the profit level of the service itself and the value-added exports of services should be improved by accelerating research and development and improving efficiency.The rise in the degree of industrial linkage in the United States will lead to an increase in the value-added export of productive services.(2)In China,the value-added imports of productive services are mainly affected by the import scale of productive services,while foreign industrial linkages,foreign inter-country industrial linkages,changes in the structure of productive service products have certain effects but not stable enough.It means that Chinese service market is continuously opening up because the import scale in productive services is expanding and the introduction of the new foreign investment law will further attract foreign capital for productive services.The negative list management mode adopted for foreign investment will lead to a gradual increase in the import of high value-added and knowledge-intensive productive services,thus stimulating the export of foreign productive services to China's added value.In the US,the value-added import of productive services is mainly affected by foreign domestic industrial linkages,foreign inter-country industrial linkages,the structure of imported service products and the scale of imported services,showing that the American service market is relatively open and the service import demand is relatively large.The strengthening of industrial linkages from other countries will reduce the import of added value in productive services,that is,when foreign industries strengthen cooperation will inevitably increase the flow of global productive services to foreign industries,thus reducing the output to the United States.If the degree of industrial linkage among foreign countries is enhanced,it can indirectly drive the increase in the value-added import of productive services in the United States.The reason is that the strengthening of industrial linkage among foreign countries will have X a demonstration effect on American enterprises,and American enterprises will also increase the import of productive services abroad through strengthening cooperation.The structural optimization of US imported services will be helpful to increase the value-added imports of US productive services,meaning that the import structure of US productive services is consistent with US demand,leading to an increase in the value-added imports for US productive services.Fourthly,the added value of Sino-US productive service trade is absorbed by them respectively from the perspective of the decomposition of their productive service trade.Statistics show that in their respective GDP accounts,the productive service trade has a relatively low degree of vertical specialization:(1)the proportion of export in the form of final service has steadily increased while in the form of intermediate service input has a relatively small increase,showing that Sino-US productive service trade has gradually decreased in participation and correlation in the global value chain and the two countries should strengthen cooperation of productive service trade in the global value chain.(2)The proportion of the productive service sectors in the two countries originating from overseas duplicate statistics is obviously asymmetric while China is lower than the United States,that is,the overseas value chain of Chinese productive service sectors is shorter and China should extend the overseas markets while America has advantage in this part.(3)China and the United States have basically the same proportion of productive services derived from their own domestic repeated statistics,that is,the two countries have basically the same degree of participation in the division of production respectively and neither of them has formed a better division of labor and cooperation with other economic sectors in the their markets.This shows that China and the United States have less international ties in trade of productive service and they need to strengthen cooperation through bilateral BIT negotiations to open up the market productive service to each other furtherly.According to this,relevant countermeasures and suggestions can be put forward:for example,promote the internationalization of knowledge-intensive service trade and further open the domestic service market;strive for the voice of international rules in service,economy and trade;push forward the progress of Sino-US BIT negotiations;speed up the construction of export carriers for productive services;strengthen the training of high-level talents for productive service trade;improve the integration of productive service industry and manufacturing industry,etc. |
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