Measurement Of Trade Benefits Between China And The USA

In the context of trade globalization,the breadth and depth of trade activities between countries is continuously expanding,and the variety of goods is also enriched.Trade interests are the source of motivation for countries to actively participate in international trade.At the same time,in the two decades since China's accession to the World Trade Organization,China's economic and trade structure has greatly changed,and its relationship with major trading partners,especially the United States,has attracted much attention.The method of trade accounting has gradually changed from the gross value method to the value-added method.Under the new accounting method,measuring the trade benefits of various economies participating in international trade has become a core issue.This article first sorts out related literature on global value chains,the comparison of Sino-US trade interests,and factors that influence trade interests.Next,from the perspective of the global value chain,the trade benefits are defined as the acquisition of effective trade value added and the promotion of the status in global value chain.It covers the two parts of benefits including absolute and relative interests.The empirical research was carried out using the WIOD data of China and the United States,and the calculation results of the two countries were compared and analyzed.Finally,it proposes ways to enhance trade benefits from two aspects: absolute interests and relative interests.Through quantitative analysis,it evaluates various influencing factors of absolute benefits,and through qualitative analysis,it proposes measures that affect relative benefits.The main conclusions of this article are: First,in terms of absolute trade benefits,the value added of effective trade exported by China to the United States is much higher than the value added of effective trade exported by the United States to China,but the the surplus is lower than the Sino-US trade surplus calculated under the traditional gross trade method.Although the absolute trade obtained by China's exports to the United States is large,from the perspective of industry,it is mainly concentrated in low-tech industries and medium-tech industries,and service trade exports are at disadvantages.Second,in terms of relative trade benefits,China's representative industries have lower status in the global value chain,while the US representative industries have higher or lower global value chains,which means that although China has an advantage in absolute trade benefits,the quality of trade benefits is not satisfactory,and the status of global value chains needs to be improved.Third,innovation is the main factor affecting absolute trade benefits.As a proxy for innovation,the number of patents has achieved significant results in quantitative regression,and this result is robust to a certain extent.The measures that can effectively enhance the relative trade benefits are mainly to get rid of dependence on developed countries in terms of importing intermediate goods,break through the capture effect on developed countries,increase the ability to absorb technological spillovers,and establish our own innovation advantages.