A Study on the Impact of Economic Sanctions on Cross-Strait Value Chain Linkages
Based on the data of ADB Multiregional Input-Output Database,this paper empirically examines the impact of economic sanctions on value chain linkages,and examines the impact of US economic sanctions on the triangular trade and cross-Strait value chain linkages based on the"Taiwan,China—Chinese mainland—US"triangular trade.The results show that the cross-Strait value chain linkages are deepening,and the production and sales of GVC activities do not show obvious"near-shoring"characteristics.Economic sanctions have a significant-ly negative effect on the value chain linkages between economies.Focusing on triangular trade,US economic sanc-tions significantly reduce the value chain linkages between the United States and Chinese mainland,and between the United States and Taiwan,China and promote cross-Strait value chain integration.Finally,some policy sugges-tions are put forward from the aspects of enhancing cross-Strait value chain linkage through the innovation-driven mechanism,embedding cross-Strait into the internal circulation of the mainland to deal with economic sanctions,and working together to explore the external market and shape a new type of trade relationship.
economic sanctionscross-Strait value chain linkageproduction distancesales distancetrian-gular trade