Research On Competition And Complementarity Of Sino-US Goods Trade

As the world's two major economic body,the bilateral trade between China and the United States not only affects the economy of the two countries,but also plays a leading role of the globle economic development trend,.Since the establishment of diplomatic relations between China and the US,the friendship between the two countries had transited from the Cold War era to cooperation,along with it,trade between the two countries move from the phase of stagnation to vigorous development.In recent years,Sino-US trade had experienced a rapid development,The bilateral trade volume between China and the United States goes up from $ 74.5 billion in2000 to $ 387 billion in 2010,that increased by more than 4 times,,and then $ 590.68 billion in2014,China has become America's largest source of imports and the deficit,the second largest trading partner,the third largest export market.Since China and US have their specific advantages in natural resources,labor,capital and technology,The structure of bilateral trade between the two countries mainly shows complementary.their trade has been based mainly complementary.China exports labor-intensive products to the United States,and the US exports capital-and technology-intensive products to China,in the global value chain,China is at the bottom of the smile curve.The developed countries were attracted by China's cheap labor and liberal investment policies,and they set up lots of factories in china.With the development of foreign direct investment,China has learned advanced production technology and management concepts from developed countries,from imitation to innovation and then to independent research and development,in recent years,the proportion of China's exports of high-tech products continues to expand,even more than which US exports to China,does this mean that Sino-US trade in goods has been converted from a complementary to competition ? In this paper I will have a empirical research on this problem from the two aspects of competition and complementarity using the latest data.Furthermore,in order to clarify the technical content of competitive or complementary goods,the paper also had a simple technical complexity estimates for bilateral trade commodities.Along with the trade between the countries heating up there is also trade friction,US has set up anti-dumping and other trade remedy investigations,which seriously affected the smooth development of bilateral trade.China is a manufacturing country,the United States is a manufacturing power,the two sides should take the initiative to seek cooperation and resolve trade disputes together,to improve the bilateral investment environment,to achieve mutual benefit and win-win.