China’s Ascent in World Trade and Associated Shift in Its Trade Structure

D. Tripati Rao,Ravi Pathak 한국유통과학회 2016 The Journal of Asian Finance, Economics and Busine Vol.3 No.3

The rapid expansion of China’s trade surplus since the mid-eighties and picking up until the onset of 2008-09 global financial crisis has been a key development in the world economy. While growing trade surplus of China has been viewed with cynicism borne out of an undervalued Yuan and for having being a member of WTO since 2001, many others argue that China’s trade surplus reflect changes in China’s economic and trade structure and associated shifts in its role within regional and global production chains. We address this issue by analyzing: (i) China’s growing and changing trade structure as well as changing structure of trade surplus with the rest of the world, USA, Europe, Japan and rest of Asia, (ii) China’s revealed comparative advantage (RCA) with the rest of the world, and (iii) how China’s trade policies resulted into a shift in China’s trade structure. We find that, not only China has made significant inroads in the world trade since its admission to WTO, but also there has been a noticeable shift in China’s trade structure with specialization in high-end technology industries wherein China’s exports aided by a well calibrated FDI policy.

An Assessment of the Stability and Influencing Factors of Sporting Goods Export Trade Structure of South Korea

Qifeng Zhang,Qiang Liu,Fei Liu 한국무역연구원 2020 무역연구 Vol.16 No.6

Purpose - In the global environment, the expansion of a country's exports in the international market will have a positive impact on the country's GDP growth and foreign exchange protection. Therefore, how to give priority to ensuring the stability of the export trade structure on the issue of expanding exports is particularly important. This paper empirically investigates the sporting goods export trade structure over the period from 2012 to 2018 for the South Korea. The research studies the impact of four main variables which are the foreign direct investment, exchange rate, trade balance and labor costs on the stability of South Korean sporting goods export trade structure. Design/Methodology/Approach - The study takes the Lawrence index as the response variable and foreign direct investment, exchange rate, trade balance and per capita disposable income of urban residents as the explanatory variables. A multiple linear regression equation model is constructed and GRA(Grey Relational Analysis) is used to analyze the relationship between all variables. Findings - Our main findings can be summarized as follows. The structure of Korean sporting goods export trade showed great fluctuations from 2012 to 2015, which first decreased, then increased and then decreased, and the structure of sports goods export trade tended to be stable after 2015. The growth of foreign direct investment, the appreciation of the U.S. dollar to the South Korean won, and the increase in the balance of trade are conducive to improving the stability of the export trade structure of sporting goods, while human capital has the least correlation with trade structure. Research Implications - The research on the stability of the export trade structure of sporting goods and its influencing factors has a theoretical guiding role in increasing the export volume of sporting goods. It is noteworthy to point out its significance for Korean sporting goods companies relative to the formulation of relevant policies to achieve international trade growth.

미국과 중국의 경제구조와 무역 갈등

고정식 한중사회과학학회 2019 한중사회과학연구 Vol.17 No.4

This paper attempts to find out that trade conflicts between the US and China are apparently caused by the US’s trade imbalances with China and the accumulation of trade deficits, but the main cause is the difference in economic structure between the two countries. Moreover, the trade imbalance between the US and China is a structural problem caused by the differences in industrial structure. It is not Issues that cannot be resolved by trade negotiations in short term, including temporarily purchases of certain commodities such as aircraft and agricultural products, a significant increase in tariff rates on imported and exported goods, or adjustment of exchange rates. I would like to suggest that the problem of trade deficit that the United States is currently experiencing is a long-standing problem of domestic and international division of labor, the formation of a global value chain, and difference of the industrial structure of each country. I point out that this is beyond the scope of the US-China trade negotiations alone. As a result of this research, the problem of trade imbalance between the two countries can be summarized as follows. First, the US trade deficit is largely attributed due to the manufacturing deficit. In other words, the trade deficit of the manufacturing industry accounted for 90.3% in 2015 and 83.9% of U.S total trade deficit in 2017. In particular, China has been the key driver of the trade deficit in the US since 2006, due to the relatively high proportion of manufacturing in the domestic industry among the comparing countries. Second, the share of the US trade deficit due to Japanese manufacturing export rapidly dropped from 74.3% in 1991 to 44.2% in 1995, 21.7% in 2000, and 12.1% in 2005, while the share of the US trade deficit due to Chinese manufacturing export raised starting at 15.7%, 20.4% in 1995, 27.1% in 2005, and 52.1% in 2015. So it can be analyzed that China’s share has replaced Japan in the share of U.S trade deficit. Third, the trade imbalance between the United States and China has simultaneously appeared in the trade of the United States with major trading partners such as Japan, Germany, Mexico, Korea, and Vietnam. This is because these major trading partners also have a relatively high share of manufacturing in their industries compared to the United States in terms of their industrial structure. Therefore, the US trade imbalance problem arises from differences in industrial structure among countries, especially in manufacturing, and it is difficult to overcome the US trade imbalance problem unless the industrial structure is adjusted. Fourth, the trade imbalance between the United States and China is also due to the differences in economic structure between the two countries, which is difficult to solve by other factors such as tariffs and non-tariff barriers without these key factors. The current repeated tariff retaliation, undermining and worsening the development of trade between the two countries, cannot fundamentally solve the trade imbalance problem. Based on trade imbalances arising from trade with China, the US could pressure China to further deepen its economic reforms and openness In various aspects, including opening up the domestic market in China, enhancing the transparency of the state-led economy, building a market economy system, eliminating tariffs and non-tariff barriers, improving the business environment of foreign-invested companies in China, and technology and intellectual property rights protection. But there is a limit to fundamentally solving the US trade imbalance through various economic pressures, such as tariff retaliation. The reason for this is that, as analyzed in this paper, the key reason for the trade imbalance between the United States and China is inevitably caused by differences in industrial structure between the two countries.

산업연관구조를 이용한 동북아 분업구조 분석

이홍식,강준구 서울대학교 국제학연구소 2009 국제지역연구 Vol.18 No.3

The paper analyzes the trade structures among Northeast Asian countries. Using Input-Output analysis, we examine the trade structure among Northeast Asian countries. Despite the considerable attention economists have given to trade structures among North Asian countries, there are few empirical studies on the trade structure of these countries. This gap is an important shortcoming in the research, since investigating the trade structure opens up crucial questions. The purpose of this paper is to fill this gap in the research and provide a framework for the empirical study of trade structure among Northeast Asian countries. However, this study should be interpreted with a caution due to the following limitations. First, our estimate is derived from the Asian Input-Output tables, whereas the Korean trade structure related to the world. Second, we could not investigate more detailed pathways of the trade structure. The remaining issues should be studied in the future work. 본 연구의 목적은 현재 동북아 3국 간에 구축되어 있는 무역 및 분업 구조의 현황과 변화 양상을 세밀하게 살펴보고, 이를 토대로 앞으로 어떠한 방향으로 변화할 것인가를 파악하는데 있다. 우리나라의 무역 및 분업 구조에 대한 연구는 다수 존재하나 동북아 3국의 무역 및 분업 구조를 세부적으로 분석한 연구는 많지 않은 실정이다. 기존 대부분의 연구에서 사용하고 있는 산업 내 무역(intra-industry trade)에 대한 연구는 국가간 분업구조의 변화 양상과 주요 요인을 파악하는 데에는 매우 유용한 분석방법이지만, 국가간 분업구조의 구체적인 연계 메커니즘을 파악하지 못하기 때문에 향후 분업구조가 어떻게 변화할 것인가를 전망하는 데에는 많은 제한사항이 있다. 따라서 본 연구에서는 ASIAN 국제산업연관표를 사용하여 한·미·중·일 4개국의 산업연관구조를 분석함으로써 제조업의 산업별 생산연관 차원에서 동북아지역 상호간 분업구조를 분석하였다.

A retrospective evaluation of the intellectual structure of private agricultural and food standards research in global trade

Lwesya Francis,Mbukwa Justine 경희대학교 글로벌 통상·금융연구원 2023 International Trade, Politics and Development Vol.7 No.2

The aim of this article was to present a retrospective assessment of the intellectual structure of private agricultural and food standards research in global trade. This study was motivated by the increasing role of standards and certifications in governing global agricultural and food trade.The current investigation was carried out with bibliometric methods using VOSviewer software. Techniques such as citation, co-citation, keyword co-occurrence, keyword evolution and co-authorship analyses were performed to tackle the research questions. Articles were extracted from Scopus database for the period 1998–2022 (30th August 2022) with selected keywords (“Private food standard*” OR “food standard*” OR “agri-food standard*” AND “agri*” OR “agro*” OR “farm*” OR “food*” AND “international trade” OR “global trade” OR “international business”) along certain filters (subject – Economics and Business management: language – English: Document – article and review articles and source – journals).The results show that the intellectual structure of private agricultural and food standards research in global trade has evolved around five clusters, namely: (1) the political economy of food standards, (2) food standards and their challenges in global trade, (3) food standards and integration into value chains, (4) food standards and market access and (5) food standards and exports from developing countries. However, the authors found the research gaps in each of the thematic clusters.The main limitation of this study is that the authors focused their attention on certain aspects of bibliometric review, such as the intellectual structure of the field, the citation analysis and the collaboration network. Future research could attempt to explore new field development through bibliographic coupling and deepening of conceptual structure using content analysis by incorporating the research methods used in the respective studies.The emerging research areas in private agricultural and food standards in global trade are related to topics on food quality, sustainable development, genetically modified organisms, World Trade Organization, tariff structure, trade agreements, food industry and European Union. However, there is less research and little collaboration between Africa and developed countries. For example, Africa's total publications were (15), while the US had (46), China (15), Belgium (23), Germany (27), Italy (32) and the UK (24).There are limited studies that have conducted a retrospective evaluation of the intellectual structure of private agricultural and food standards research in the global trade using bibliometric analysis. The present investigation is novel in identifying the thematic research clusters, emerging issues and future research directions. This is more important to developing countries as their agricultural produce face challenges to access markets of the developed world.

China's Ascent in World Trade and Associated Shift in Its Trade Structure

D Tripati Rao,Ravi Pathak 한국유통과학회 2016 KODISA ICBE (International Conference on Business Vol.2016 No.-

The sustained and rapid expansion of China's trade surplus has been a key development in the world economy. While growing trade surplus of China has been viewed with cynicism borne out of an undervalued yuan and for having being a member of WTO since 2001, many others argue that China's trade surplus reflect changes in China's economic and trade structure and associated shifts in its role within regional and global production chains. In order to address the issue, we analyse: (i) China's growing trade surplus with the rest of the world, USA, Europe, Japan and Rest of Asia, (ii) China's changing trade structure in order to see whether or not China has moved up the value chain?, and finally (iii) what role China's trade policies played in the shift of China's trade structure. We find that, not only China has made significant inroads in the world trade since its admission to WTO, but also a shift in China's trade structure with specialization in high-end technology industries and exports aided by well calibrated FDI policy.

한국과 폴란드 간 무역구조의 변화: 산업 간 무역과 산업 내 무역을 중심으로

김승년,이상직 한국외국어대학교 국제지역연구센터 2019 국제지역연구 Vol.23 No.2

본 연구는 한국과 폴란드 간 무역구조가 2000년대 들어 최근까지 어떻게 변화되어왔는지를 분석하는 데 그 목적이 있다. 특히 두 나라간 무역형태를 산업 간 무역, 수직적 산업 내 무역, 수평적 산업 내 무역으로 구분하여 무역구조의 변화를 파악하고자 하였다. 분석결과에 따르면 한국과 폴란드 간 무역에 있어 산업 간 무역의 비중이 훨씬 크지만 최근 그 비중이 감소하는 추세이고, 반대로 산업 내 무역의 비중은 아직 크지 않지만 그 비중이 증가하는 추세이다. 산업 내 무역 가운데는 수직적 산업 내 무역이 상대적으로 비중이 크고 증가하고 있으며, 수평적 산업 내 무역의 비중은 매우 작고 변화도 크지 않다. 한국과 폴란드 간 무역에 대한 우리의 분석결과는 한국과 EU와의 무역구조를 분석한 기존의 연구와 유사하지만, EU의 경우에 비해 산업 내 무역의 비중이 상대적으로 작다는 점, 산업 내 무역이 주로 수직적 산업 내 무역에 의해 설명된다는 점에서 차이가 있다. The purpose of this paper is to analyze the changes in the trade structure between Korea and Poland in the period 2001-2017. The trade structure is broken into three types such as inter-industry trade, horizontal intra-industry trade and vertical intra-industry trade. Our empirical analysis finds that inter-industry trade is dominant in the Korea-Poland trade during the sample period but its share is decreasing. On the other hand, although the share of intra-industry trade is small but it is increasing in recent years. We also find that there is an increasing trend of vertical intra-industry trade while the volume of horizontal intra-industry trade is very limited. Our results on the trade structure between Korea and Poland are similar to the previous study on the trade between Korea and EU, but this study is different from the previous study in that the portion of intra-industry trade with Poland is smaller than the trade with EU and most of the intra-industry trade with Poland is explained by vertical intra-industry trade.

한국과 EU의 교역구조 분석

이재득 한국유럽학회 2009 유럽연구 Vol.27 No.3

In July, Korea and EU agreed Korea-EU FTA Negotiation actually. Despite that, in recent years there are much fewer studies on international trade structure between EU and Korea than between US and Korea oe even between China and Korea. EU became the second largest trade partner of Korea, and EU can influence Korean trade structure and economy. This paper examines a specific product-basis analysis on international trade structure between Korea and EU. Thus this paper investigates the specific product-basis analysis on international trade structure between EU and Korea using the recent international trade statistical data in 2003, 2004, 2007 and 2008. Several specific product-basis trade structure tests such as specific product-basis trade specialization test, intra-industry trade index and specific product-basis realized comparative advantage index show that Korea has import-specialized in most items of SITC Code 0, 1, 2, 3 and 4. Korea also has partially import-specialized in specific products of chemistry and related products(SITC Code 5) because EU has more advanced technology level in this products. Korea has the mixed positive or negative trade specialization indices in items of SITC Code 6, 7, 8 and 9. As a result of industry-basis international trade structure between Korea and EU, this paper found out that Korea and EU have a very low level of intra-industry trade in most items of SITC Code 0, 1, 2, 3 and 4. Items of SITC Code 5, 6, 7, 8 and 9 shows, however, mixed high and low level of intra-industry trade. While Korea has the large comparative disadvantage in most items of SITC Code 0, 1, 2, 3 and 4, Korea has the mixed comparative advantage in some items of SITC Code 5, 6, 7, 8 and 9. In particular, Korea has considerable comparative advantage in communication machinery, automobile and transport related products among items of SITC Code 7. 2009년 7월, 한국과 EU의 FTA 협상이 타결됨에 따라 한국의 EU의 FTA 협상은 중요한 이슈가 되었다. EU는 현재 한국의 제2의 교역국으로서 한국과 EU의 FTA는 향후 한국의 경제 및 교역구조에 많은 영향을 미칠 것이다. 그럼에도 불구하고 한국과 미국, 혹은 한국과 중국에 대한 교역구조의 분석에 비하면 연구가 상대적으로 매우 미약하다. 본 연구는 한국과 EU의 FTA협상시점에 즈음하여 SITC 3단위 품목분류를 사용하여 최근 변화하고 있는 한국과 EU의 교역구조를 분석한다. 무역특화도 분석결과 SITC 코드 0, 1, 2, 3 그리고 4의 품목에 있어서는 대부분 아주 강한 수입특화를 보이고 있으며, SITC 코드 5(화학관련제품)들에 있어서는 수출입특화품목이 혼재하여 있었으나 수입특화가 상당히 많았고, SITC Code 6, 7, 8, 그리고 9의 품목들에 있어서는 수출입특화가 혼재하고 있었다. 한국과 EU의 산업내분석에서도 SITC 코드 0, 1, 2, 3 그리고 4의 품목에 있어 아주 낮은 산업내무역을 보이고 있고 SITC 코드 5(화학관련제품)와 SITC Code 6, 7, 8, 그리고 9의 품목들에 산업내무역이 높은 품목들과 낮은 품목들이 혼재하고 있었다. 비교우위분석결과에서도 SITC 코드 0, 1, 2, 3 그리고 4의 품목에 있어서 한국은 강한 비교열위를 가지고 있었고, SITC 코드 5(화학관련제품)와 SITC Code 6, 7, 8, 그리고 9의 품목들에 있어서는 비교우위와 비교열위가 혼재하고 있었으나, 특히 통신관련 제품들과 자동차 관련 부분품 및 부속품 등에서 높은 비교우위가 발생하였다. 그리하여 한국과 EU 교역에 있어 수출특화와 수입특화, 산업내무역, 그리고 비교우위가 제품별로 상당히 다르게 혼재하고 있고 SITC 코드별로 상호보완적이므로 한국과 EU는 향후 수평무역과 수직무역 등의 형태에 의해 교역을 확대할 수 있을 것이다.

The Effects of Information & Telecommunication (IT) Capabilities on Trade: The Case of China, Japan, Korea and the U.S.

박추환,여택동 중앙대학교 한국전자무역연구소 2015 전자무역연구 Vol.13 No.2

Purpose: This paper, based on the presumption that a higher level of IT capability reduces transaction cost of trade, examines the effects of IT capability on trade between China, Japan, Korea, and the U.S. Composition: Chapter Ⅰ, as the introduction, presents the background and purpose of this paper. Chapter Ⅱ reviews prior literature, including the analyses of trade with respect to the export-import function. Chapter Ⅲ reports the status of IT capabilities in the four countries, China, Japan, and Korea, and the U.S. Chapter Ⅳ presents the analytical model with explanatory variables and data. The main results of this study are presented in Chapter Ⅴ. Lastly, summary and the concluding remarks follow in chapter Ⅵ. Findings: Using the panel regression model, this study shows that the levels of IT capability do have statistically insignificant impacts on bilateral exports and imports among the four countries, so that IT capability does not have a role on trade structure directly. However, for the individual country, the level of IT capability has a positive effect on Korea’s exports and imports, but a negative effect towards China which has very lower level of IT capability. Originality/Value: Therefore, in order to increase the role of IT capability in the trade structure, it is necessary to remove various kinds of asymmetric information and regulation on trade and establish trade-related standards to ease transaction process beyond the borders Purpose: This paper, based on the presumption that a higher level of IT capability reduces transaction cost of trade, examines the effects of IT capability on trade between China, Japan, Korea, and the U.S. Composition: Chapter Ⅰ, as the introduction, presents the background and purpose of this paper. Chapter Ⅱ reviews prior literature, including the analyses of trade with respect to the export-import function. Chapter Ⅲ reports the status of IT capabilities in the four countries, China, Japan, and Korea, and the U.S. Chapter Ⅳ presents the analytical model with explanatory variables and data. The main results of this study are presented in Chapter Ⅴ. Lastly, summary and the concluding remarks follow in chapter Ⅵ. Findings: Using the panel regression model, this study shows that the levels of IT capability do have statistically insignificant impacts on bilateral exports and imports among the four countries, so that IT capability does not have a role on trade structure directly. However, for the individual country, the level of IT capability has a positive effect on Korea’s exports and imports, but a negative effect towards China which has very lower level of IT capability. Originality/Value: Therefore, in order to increase the role of IT capability in the trade structure, it is necessary to remove various kinds of asymmetric information and regulation on trade and establish trade-related standards to ease transaction process beyond the borders

GL지수를 활용한 한중 FTA 양허안 효과분석

이종찬(Lee Jong Chan)(李鐘燦),채상수(Chae Sang Soo)(蔡相秀) 대한중국학회 2016 중국학 Vol.57 No.-

한국의 대외개방도는 1950년대부터 지속적으로 높아져 2015년도에 이르러서는 100%가 넘는 수준으로 매우 높은 대외개방도를 나타내고 있다. 한국경제 성장의 발판이 된 수출산업은 약 21%의 수출이 중국시장을 통해 이루어지고 있다. 이러한 무역기조를 반영하여 2015년 12월20일에 한중 FTA가 발효되었다. 그러나 변화한 중국의 수출산업은 현재 한국의 수출산업을 위협하고 있다. 따라서 한중무역의 구조변화는 양국무역에 많은 영향을 주고 있다. 본고에서는 이러한 한중무역간의 변화를 Grubel-Lloyd지수를 산출하여 한중양국의 무역의 무역구조가 산업내 무역과 산업외 무역 중 어느 쪽에 가까운지 파악하고, 이에 따라 2015년에 발효된 한중 FTA양허안의 효과를 분석하였다. Korea s external openness has been steadily rising since the 1950s that has reached over 100% in 2015, indicating a very high level of external openness. The export industry was the heart of Korean economic growth and it was accounted for 21% of exports to China. In this situation The Korea-China FTA was signed in 2015, and it entered into force in 2016. The Korean government expects the Korea-China FTA to help Korea s economy. However, there have been many changes in Korea-China trade and the biggest change in Korea-China trade was the change in trade structure. Therefore, in this paper we calculated the GL index of Korea-China trade. The GL index is used to analyze the trade structure of bilateral trade so we analyzed the trade structure of Korea-China trade through GL index. Korea and China started trading in 1992, and at that time, bilateral trade had the form of inter-industry trade, but due to China economic growth and technological growth, Korea-China trade turned into intra-industry trade. In other words, China s export industry is competing with Korea s export industry. This means that Chinese export products and Korean products are competing in the Korean market, while Korean exports products and Chinese products are competing in the Chinese market. This phenomenon will be a big factor in the effect of Korea-China FTA. Therefore, we analyzed the effect of Korea-China FTA through the changes in the trade structure between Korea and China.