Analysis of China's Long-Term Significant Deficit in Digital Product Trade with ASEAN
We have identified that China has consistently faced a significant deficit in digital product trade with ASEAN,with this deficit following a trend of"initial increase followed by stabilization."The main reasons for this long-term significant trade deficit include the global supply chain dynamics,where China imports a large volume of electronic components from ASEAN for processing and assembly before exporting to the US and European markets;the strategic competition between the US and China,leading to US pressures on China's digital product trade in the ASEAN market;the underdeveloped consumption capacity for digital products in ASEAN countries;the need for improvements in the business environment for digital product trade in ASEAN countries;and the necessity to en-hance the market expansion capability of Chinese digital products.To address these issues,China should compre-hensively strengthen high-level communication and coordination within the frameworks of the Belt and Road Initia-tive(BRI)and the Regional Comprehensive Economic Partnership(RCEP).Efforts should be made to assist ASEAN countries in reducing trade barriers and obstacles to digital products.Additionally,continuous efforts are needed to enhance Chinese firms'market development and localization strategies in ASEAN and actively engage in the formulation of standards and regulations for digital product trade.