Economics, Econometrics and Finance
2 years ago

China's Manufacturing Industry Surpassing US, Redefining Global Value Chain Dynamics.

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Advances in Economics and Management Research
Research on Performance Evaluation of Global Value Chain of Manufacturing Industry in China and the United States
Zuchang Zhong, Shiyun Li, Xiaoxia Ji, Zhuanghong Zheng, Fanchao Meng

Paper Summary

The research looked at how the manufacturing industries in China and the United States are doing in the global value chain. They used trade data to see how each country is involved in making products for the world market. The results show that China's role in the global value chain of manufacturing has been getting better since 2005, while the United States has been doing worse. China is now closer to the US in this industry and has been more involved in manufacturing for a long time. Also, China is relying less on the US, while the US is relying more on China.

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