The Impact Of Wage Increases On The Import And Export Of Different Industries In China's Manufacturing Industry

At present,China's economy is constantly on the rise,and China's manufacturing wage costs are also rising.However,China's manufacturing import and export volume has been declining for three consecutive years from 2001 to 2016.Many people believe that China's manufacturing advantage is about to disappear.Under the economic environment,the analysis of the rising wage costs in China's manufacturing industry has made a significant impact on the impact of manufacturing the import and export volume of different types of industries.First analyze the status of China's manufacturing industry and its cost.From the status of wage development in China's manufacturing industry from 2003 to 2016,it can be seen that it has been rising for 14 consecutive years.Then analyze the overall situation of China's manufacturing industry,here from six perspectives.First,according to the Chinese manufacturing PMI index,we can see that the domestic manufacturing industry has shown a good development trend in recent years;Second,from the import and export volume of China's manufacturing 2003-2016 Exports have started to decline year-on-year since 2014.Third,China's manufacturing international market share has declined since 2015.MS.China's manufacturing industry's international competitiveness reached a maximum in 2015.A decline has occurred.Fifth,the dependence of China's manufacturing industry on foreign trade has gradually declined in recent years.Sixth,the proportion of different factor concentration types in China's manufacturing industry is accounted for as a percentage of imports and exports.The proportion of labor-intensive manufacturing exports is gradually declining,and capital-intensive.The proportion of exports has gradually increased.However,the import and export volume of labor-intensive manufacturing is still far greater than that of capital-intensive manufacturing.Then build a regression model and use regression analysis to study the impact of rising manufacturing wages on the overall import and export of Chinese manufacturing.Referring to the research methods of the existing literature,the manufacturing industryis divided into labor-intensive,resource-intensive and capital-intensive industries.Three equation groups are established to analyze the impact of wage cost changes on the import and export of different types of industries.It was finally concluded that rising wage costs have indeed had a negative impact on manufacturing imports and exports in recent years:the most significant ones are capital-intensive manufacturing,the least affected are resource-intensive manufacturing,and the middle is labor-intensive.manufacturing.Since the regression analysis can see the relationship between various economic variables,these data have already occurred and cannot make a prediction for future development.Therefore,an VAR autoregressive model will be constructed to analyze the impact of rising wage costs on Chinese manufacturing imports and exports under long-term conditions.This article concludes that in the long-term situation,the rise in manufacturing wage costs will have a positive impact on manufacturing imports and exports.It is concluded that although the development trend of China's manufacturing industry is still good,it has declined in import and export in recent years.Although the increase in wage costs does have some negative impact on them,in the long run,this impact is benign.However,it is inseparable that government enterprises continue to exert their subjective initiative,actively create a favorable business environment for the transformation of China's manufacturing industry,and continuously cultivate innovative manufacturing talents.Considering that it is not very rigorous to attribute manufacturing simply to labor-intensive industries,there are not many articles on the analysis of manufacturing categories,and the focus of research is not the same.Therefore,this article divides manufacturing into labor-intensive and resource-intensive industries.Intensive and capital-intensive,and analyzing the impact of rising wage costs in China's manufacturing industry on three types of industries is a major innovation in this paper.