Journal
JOURNAL OF CHINESE ECONOMIC AND BUSINESS STUDIES
Volume 17, Issue 4, Pages 389-402Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/14765284.2020.1712885
Keywords
Sino-US trade balance; global income chains; national income; foreign direct investment; input-occupancy-output model
Categories
Funding
- National Natural Science Foundation of China [61873261, 71473244, 71974183]
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Trade volume biases trade benefits under the background of economic globalization. Employing the input-output technique, important progress has been made in research on trade in value-added. It is noteworthy that capital globalization is one of the important manifestations of economic globalization. Owing to the ever-increasing transnational flow of capital, mainly by foreign direct investment (FDI), production of exports shows great dependence on foreign capital. A large part of value-added in exports are obtained by foreign factors owners, since foreign-invested enterprises account for a large proportion in host country's total exports, which is foreign income. The ultimate goal of trade is to boost national income. We propose to study trade benefits and trade balance from national income perspective, and further introduce the concept of global income chains to reveal economic benefits distribution within international specialization.
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