Managing Networked Sanctions on Value Chains:The Structural Power of Enterpri-ses and the Sino-US Intermediate Goods Trade
In the context of international economic and trade relations and the practice of economic sanctions,tariffs traditionally manifest as trade barriers on final goods,aiming to restrict the target country's exports and increase its economic costs.Since 2018,the new tariffs on China target intermediate goods trade with the intention of decoupling China from the global value chain,reflecting the characteristics of networked sanctions on value chains.Notably,the intensity of the US networked sanctions against China on value chains varies significantly across different industries and has widespread effects throughout the entire Sino-US economic and trade structure:the backward linkages between the US and Chinese pharmaceutical industries exhibit strong resilience,while the information and communica-tions technology industry has suffered significant impacts.By exploring the interrelations be-tween profit-seeking enterprises and power-seeking states,the author attempts to construct a domestic political explanation that centers on US-based firms:the US-based enterprises le-verage their two types of structural power within the US domestic context to counteract and constrain the US government's economic weaponization actions-participatory power within the decision-making structure and bargaining power within the political agenda structure.The study finds that in non-strategic industries outside the Rust Belt,if enterprises possess at least one type of structural power,they can reduce the intensity of networked sanctions on value chains and mitigate their negative lagged effects on the US-China economic and trade structure.However,in strategic industries outside the Rust Belt,enterprises must possess both types of structural power to effectively alleviate networked sanctions on value chains and promote the development of intermediate goods trade between China and the US.
networked sanctions on value chainsstructural power of enterprisesinter-mediate goods tradeSino-US economic and trade frictiongreat power strategic competition
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