The Pulling Effect of China's Final Demand on Latin American Economy——Based on Global Value Chain Perspective
The new development pattern is not a closed domestic circulation,but an open domestic and international dual circulation.With the leapfrog development of economic and trade cooperation between China and Latin America,China's positive influence on Latin American economy is deepening.In view of this,measuring and analyzing the pull effect of China's final demand on Latin American economic growth is of practical significance for China to build a new development pattern.Based on the global value chain perspective and the world input-output model,this paper uses the data of the OECD World Input-Output Table to measure the de-mand-pulling effect of China on Latin American economic growth in the global value chain.The study concludes that,first,from 1995 to 2018,China's demand-pulling rate to the Latin American economy has increased significantly,from 0.0014％to 0.0253％per 1％of economic growth,an 17-fold increase,and China's pull rate in 2018 is second only to the United States among all external economies;second,the value chain dependence of China's pull rate to Latin America is relatively high on the whole,with an obvious upward trend,always remaining above 80％after 2000;third,China's final demand is the decisive factor for the change of China's pull effect on Latin American economic growth,and China's economic growth will effectively drive Latin America's economic growth through the in-ternal circulation to the external circulation.
demand-pulling effectChina-Latin America economic and trade cooperationglobal value chainsnew development patternLatin American economic growth
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