Introduction: Trade surplus in China – vertical specialization and related issues
Abstract:
With vertical specialization (VS), the processing trade has been flourishing in China and played a leading role in imports and exports. China’s trade surplus has become an increasing source of friction. The bilateral trade imbalances between China and its trading partners were largely determined by a comparative advantage and VS.
Key words
Vertical specialization
Trade conflict
Trade imbalance
Processing trade
Trading partner
China
US
Japan
The starting point: China’s vertical specialization trade
While China’s foreign trade has grown dramatically in the past three decades, equally dramatic changes have occurred in the trade pattern. One of the ...
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