Research On Sino-US Trade Balance And Development Strategy Based On Value Added Trade

Nowadays,the international division of labor is increasingly refined.In order to complete the whole production and circulation process,the final consumer goods often require the participation and cooperation of multiple economies,and naturally involve production,processing and trade process.In particular,before reaching the destination country,the final products need to pass many countries in the supply chain in the form of intermediate products.These countries import,process and re-export the products and meanwhile the whole process is integrated into different factors accumulation.In this system of division of labor,the traditional trade statistics system is not reasonable because each link involves the formation of additional value,however,the whole value is attributed to the final consumer goods which belong to the end of the value chain.This statistics system will obviously affect the accuracy of trade analysis.The value-added trade statistics system which has emerged in recent years count the trade volume according to the added value of a single commodity produced in different economies in the global production chain.This newly emerged trade statistics system can effectively make up for the inadequacy of traditional trade statistics,objectively reflect the trade scale and the differences of the real profit,avoid bilateral and multilateral trade frictions due to the overstated balance of trade.Over the years,most of the deficit in the US foreign trade has come from China.Sino-US trade dispute is mainly because that United States believes that China has huge trade surplus against the US,and this has greatly influenced balanced and stable development of Sino-US trade.The research on the Sino-US trade balance and development strategy under the perspective of value-added can effectively prove the over-estimate of Sino-us trade surplus,objectively reflect the balance of trade between the two countries,and it is useful to improve China's international division of labor status and improve the profit ability of China's exports to the United States.At the same time,it has strategic significance for China and the United States,the world's largest trading nations,to reflect the real bilateral pattern of trade balance between the two countries based on value-added trade in order to promote economic and trade development between the two countries.Based on the value-added trade related theory,this paper illustrates the situation of Sino-US trade from the aspects of trade scale,commodity structure,and trade pattern.Using input-output model between China and the United States,it analyses the statistical results in the new methods,then compares the results with the traditional statistics system.The paper also concludes the reason for the reduction in S ino-US trade balance from the perspective of value-added trade.Furthermore,it puts forward development strategy of Sino-US trade from the country and enterprise level under the perspective of valued-added trade.The reason for this reduction in the trade balance between China and the United States mainly includes:avoiding repeated computation of intermediate products,considering the processing trade,calculating export volume from perspective of the source of added value,considering the over-estimation of FDI on China's trade surplus and so on.Focusing on the state of Sino-US trade under the perspective of value-added trade,China should strive to improve the status in international division of labor,optimize industry structure,promote industrial upgrading,and energetically develop trade in services.The enterprises in China should try to enhance the technology content of value-added products,pay great attention to the trade of intermediate goods,strengthen self-supportr ability and actively cultivate independent brands.