An Analysis Of China’s Export Potential Of Service Trade In The United States

With the rapid development of the world economy, the development of service trade shows a strong momentum, and gradually exceeds the goods trade, becomes the main force to promote economic development. In recent years, China’s service trade has also been considerable development, but China’s service trade imports is far more than the exports, and for the trade share,2013 trade in services exports accounted for 8.7% of total exports, far below the world average. As one of China’s most important service trade partners, the service trade volume of the two countries has increased year by year. But in the service trade, the United States has been in a surplus, while China is in a disadvantageous position in the deficit. Therefore, China must strengthen the economic power through developing service trade. With China’s accession to the WTO and the expansion of service trade areas between two countries, the development of trade in services between two countries has been a certain upgrade. So, this paper analyzes the potential of China’s service trade export to the USA by referencing the gravity model. In this way, we provide the strategy basis for the export of service trade to the USA, so as to promote the development of China’s service trade in the future.The core research content of this paper:on the basis of analyzing the current situation of services trade between China and the USA, we reference the gravity model to analyze the factors affecting our country’s exports of service trade and explore the potential of China’s exports to the United States, and then, give some suggestions.The first chapter is the introduction, which mainly describes the background, significance, literature review, structure arrangement, innovation and shortage of this paper. Through the summary of the existing literature, it is found that the analysis of export potential of service trade, especially the results from the gravity model to the trade flow analysis are less. This is the starting point of this article.The second chapter is the basic theory. This chapter introduces the traditional international trade theory, the modern international trade theory and related theories of international market development, which provides a powerful theoretical support for the later discussion.The third chapter is a realistic analysis of China’s export potential of service trade in the United States. This part is the basic part of the article, mainly analyzes the development status of China’s service trade, the current situation of bilateral service trade between China and America, and the analysis of American domestic service market demand.The fourth chapter is an empirical analysis of China’s export potential of service trade in the United States. First. reference the gravity model to construct the panel data regression model of this paper, and then through the empirical analysis, it concludes that the population of China and America, per capita GDP of two countries, the amount of goods exports from China to America, service trade openness, geographical distance between the two countries and cultural resistance between the two countries are important factors affecting the export of service trade to America. After that, the export potential of service trade in China is measured by referencing the gravity model. The total service trade of our country has the export potential, and there exists export potential in insurance services, financial services, computer and information services, proprietary rights and royalties as well. But the potential in transportation services and travel services has been basically excavated.The fifth chapter is the conclusion and suggestion. This part further summarizes the conclusions of the full paper, and proposes the suggestion of mining the potential of China’s service trade export. First, tap the export potential of the industries which show the export shortages. Second, pay attention to the excessive export industry coordinated development. Third, pay attention to the leading role of trade in goods. Fourth, strengthen the government’s efforts to support. Fifth, strengthen international exchanges and cooperation.The innovation of this paper lies that, about the service trade between China and the United States, results of the present study concentrated on China’s service trade competitiveness, export structure, export trade deficit, influencing factors of service trade, intra industry trade and other aspects of research, but lack research of China’s service trade flow. This paper makes a special study on the potential of total export volume of service trade and the service industry in China. Second, the traditional gravity model is modified. It breaks the limitation of the traditional gravity model, and predicts the potential of service trade export of China by referencing the revised gravity model, so it has some innovation in the research method.