Research On Trade Gains Distribution Of Sino-U.S In The Global Value Chain Specialization

Since 21^st century,the whole world is attracted by the rapid development of China economy.Reform and open-up policy has been carried out 36 years;it witnessed the rising of China economy.Especially after joining WTO,China's economy grows sustainably;economic structure optimizes increasingly,foreign trade booms.In recent decades,with the deepening of international division,China inserts into the global value chain specialization---a new form of specialized system by its low cost of labor.“Made in China”not only makes China become a large nation in economy and trade,but also makes it become a“world plant”.In the background of the global value chain specialization,surplus of processing trade takes up main part of foreign trade surplus of China.Large trade volume but small trade benefits indicates that China is a large but not a powerful nation in trade.Theories and indicators in traditional international division could not suggest the distribution of benefits from trade objectively.So,paying more attention to global value chain specialization,explaining trade development paradox from theories and empirical study has economic significance.Since 1993,China is always getting a huge trade surplus in the bilateral trade of China and US,and trade surplus of manufacturing industries account for 90 percent.This paper believes fundamental reason for enlarge of bilateral trade of China and US is the deepening of the global value chain specialization,while manufacturing trade between China and US shows the feature of the global value chain specialization.Due to the arising of the global value chain specialization,the value added activities of one product has have been completed in many countries,leading to the trade benefits of China is overvalued.This paper studies from this perspective,five parts included:The first part teases out the theories of global value chain specialization,the second part describes distribution pattern of trade benefits from state-level and corporation-level,and it illustrates the development history and composition of Sino-US trade in part three,then it describes and compares the common indicators of trade benefits,measuring the degree of global value chain specialization and the trade value-added between China and US,using metering model to estimate the impact on the trade benefits of main indicators,turning out that huge trade surplus and low value-added coexists from empirical view in the Sino-US trade,based on the above study and analysis,it puts forwards some suggestions to raise real trade benefits from the global value chain specialization,China should do the good job as follows:speed up the transformation and upgrading of open economy;take part in the global value chain specialization actively;make great efforts to elevate the position in the global value chain specialization.