Study On The Influencing Factors Of Sino-US Trade In Service

With the rise of the service industry,the status of service trade in world trade is increasing.According to the latest trade data,China has become the world's largest trade deficit country in service trade,and the service trade deficit has maintained a trend of growth every year.As China's trade surplus with other countries slows down,the possibility of China's current account becoming a deficit will increase greatly,which in turn will increase the instability of China's balance of payments.Moreover,the persistent deficit of the current account means that China will lose its endogenous debt repayment ability and thus be at a disadvantage in international competition.Based on the above problems,this paper is based on the research on the factors affecting the trade deficit between China and the United States.In the process of comparing with the mature service industry in the United States,this paper finds the cause of the continuous deficit of China's service trade,thus relieving the trade deficit of China.The first part of this paper is an introduction,introducing the research background,research ideas and methods,innovations and deficiencies.The second part is a literature review,which summarizes the current hot issues in the field of service trade,the development history of service trade theory and the related literature on the influencing factors of service trade deficit,from income,demand,related industries,government and service industry.The development level,exchange rate and other aspects summarize the factors that may affect China's trade in services.The third part is an analysis of the status quo of Sino-US service trade.This paper starts with the status quo of Sino-US service trade,comprehensively analyzes the differences between China and the United States in terms of service trade from the perspective of the overall and industry.From a holistic perspective,it finds that service industry employment ratio,service trade's market share and service industry to economy.The contribution is part of the gap between China and the United States in terms of trade in services;from the perspective of industry,the main items affecting the trade volume between China and the United States are “tourism”,“finance” and “IP use fees”,and further discover that the main reason is “consumption upgrades” and insufficient investment in science and technology.The fourth part is the theoretical analysis.Using the combination of quantitative and qualitative methods,the paper firstly analyzes the influencing factors affecting the trade volume of services,and then analyzes the influencing factors of China's service industry from the perspective of supply and demand.Assume that in the end,from the standpoints of China and the United States,the factors affecting the export of China's service trade with the United States are summarized.The fifth part is an empirical analysis.Based on the semi-annual data of Sino-US service trade from 2001 to 2017,a multivariate linear regression model was established to gradually return the explanatory variables,and finally the empirical results were obtained: disposable income,employment level of service industry,economic contribution of service industry and the level of development of trade in goods is positively related to the export volume of trade in services.The empirical results show that the development of service industry will drive the development of service trade exports,thereby reducing the trade deficit between China and the United States;the domestic service industry has a huge market demand,and should be improved from the service supply side,actively promoting the development and construction of the domestic market,thereby reducing service trade deficit;paying attention to the rising employment rate of the service industry,but also paying more attention to the improvement of labor quality,thereby improving the competitiveness of the entire industry and reducing the trade deficit of services;effectively grasping the US service market can not only reduce the trade deficit of China and the United States,but also can enjoy the "technical spillover" in the United States.The sixth part is conclusions and policy recommendations.This paper draws the main conclusions of this paper based on the status quo,theory and empirical analysis,and from the perspective of policy makers,improving human resources,improving service supply,improving government functions,and grasping external needs and apply policy recommendations in several aspects of institutional advantages.