Global Value Chains and the US-China Trade War
Professor Xing Yuqing
Visiting Research Professor, East Asian Institute, National University of Singapore and
Professor of Economics, National Graduate Institute for Policy Studies, Tokyo, Japan
Friday, 20 December 2019, 3:30 pm – 5:00 pm
EAI Conference Room
NUS Bukit Timah Campus
469A Bukit Timah Road
Tower Block #06-01
The development of global value chains (GVC) in the recent decades has transformed China into a global hub for manufacturing and assembly. China’s exports to the United States are largely in the context of value chain trade which has greatly promoted the rapid growth of Chinese exports and China’s trade surplus with the United States (which triggered the on-going US-China trade war). The speaker adopts the GVC perspective to analyse the success of China’s exports to the United States and the persistent huge US trade deficit with China. He will show that conventional trade statistics seriously distort the bilateral trade imbalance with the exaggeration of China’s surplus and underestimation of actual exports. Reducing the China-US trade imbalance requires not only fair trade, but also a new system of trade statistics consistent with GVCs-based modern trade.
About the Speaker:
Dr Xing Yuqing is also a member of the International Advisory Committee of the Global Production Network Centre at the National University of Singapore. He served as the Director of the Capacity Building and Training Department of the Asian Development Bank Institute from 2011 to 2014. He was also Sabbatical Fellow at the World Institute for Development Economics Research and Visiting Professor of the Institute of Advanced Studies, both at the United Nations University, and Visiting Research Fellow of the Bank of Finland. He provided consulting services to Asian Development Bank, the International Monetary Fund and Japan International Cooperation Agency. Dr Xing’s research focuses on international trade, foreign direct investment, exchange rates and global value chains. He is a leading expert on global value chains. His research on the iPhone and China–US trade balance has been discussed widely in global mainstream media, challenging conventional views on bilateral trade statistics and instigating a reform of trade statistics. Dr Xing received his bachelor’s and master’s degrees from Peking University and a PhD in Economics from the University of Illinois at Urbana-Champaign.
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