Global industrial chains(GICs)have become a hallmark of the world economy underpinning the global production *** the reform and opening up was introduced in 1978,China has taken an active role in global value chains(G...
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Global industrial chains(GICs)have become a hallmark of the world economy underpinning the global production *** the reform and opening up was introduced in 1978,China has taken an active role in global value chains(GVCs)and become the world’s factory *** the external shocks to GICs,such as US trade frictions with China and the COVID-19 pandemic,China’s traditional comparative advantages in manufacturing which include its labor force and costs are *** has manifested in a wave of industrial relocations from China to other countries as well as China’s weakening international *** took stock of the concepts and journey of GVCs and elaborated the intrinsic relationship between GVCs and the new development pattern of“dual circulations”.We also analyzed the trends of GVCs,the current status and problems of China’s industrial chains,and China’s market heft,complete industrial chains and the digital economy as new strengths for industrial chain *** our conclusion,this paper put forth some policy recommendations for China’s industrial chain upgrade in the context of dual circulations.
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