The Study Of Sino-US Intra-industry Trade Based On Intra-product International Specialization

The Sino-US intra-industry trade has been at a relatively low level with a declining trend since China joined to the WTO,which increases the adjustment costs of Sino-US trade and impacts the sustainable development of bilateral trade and economies. On the other hand,the intra-product international specialization makes the U.S.trade deficit to East Asia transferred to the Chinese mainland,leading to continued trade surplus between China and the United States,which is also an important reason for the continuous decline of Sino-US intra-industry trade level. Therefore,the study of Sino-US intra-industry trade in the perspective of intra-product international specialization is of theoretical and practical significance.Firstly , this thesis analyzes the basis of intra-industry trade based on intra-industry trade theories as well as the motivation and the interest source.It also theoretically analyzes the trade forms of intra-product international specialization and their impact mechanism on intra-industry trade,which shows the important impact of multinational companies and processing trade on the intra-industry trade.Then it briefly discuss the impact of the trade balance, the degree of openness, the exchange rate and geographical factors on intra-industry trade.Secondly, this thesis analyzes the trade forms of China's participation in intra-product international specialization in recent years. It shows that the processing trade is the primary form in which China joins intra-product international specialization with a constantly upgrading structure,and the growth of the intermediate goods trade including the growth of the parts trade especially has deepened the degree of China's participation in it. And then this thesis analyzes Sino-US intra-industry trade level and type by using GL index and Greenway index. It shows that Sino-US intra-industry trade is at a low level of vertical intra-industry trade stage. At the same time,according to the development trends of the processing trade and Sino-US intra-industry trade,the processing trade is an important force which promotes the development of Sino-US intra-industry trade.Based on the model of related intra-industry trade theories, this thesis introduces variables of processing trade ratio and establishes econometric models. Through the unit root test and cointegration test,it shows that Sino-US intra-industry trade level has stable long-term cointegration relationship with processing trade,per capita GDP,trade imbalance,U.S.direct investment in China,the degree of dependence on trade and the dollar's exchange rate to RMB.Then this thesis analyzes the impact degree of these determinants on the Sino-US intra-industry trade level according to general industries , high technology industries , medium technology industries and low technology industries by multiple regression models. Finally, according to the theoretical and empirical analysis result,this thesis proposes policy suggestions of upgrading Sino-US intra-industry trade level on the macroeconomic level and the microeconomic level.