A Study on the Driving Factors of a New Round of International Industrial Transfer:A Comparative Analysis of Labor Costs,Tax and Fee Costs and Other Factors
In the past industrial shifts around the world,labor costs,and tax and fee costs were seen as the core drivers.With the changes in the international situation,the background of a new round of global industrial transfer has added other uncertainties in addition to factor costs.This paper holds that the nominal wage of Chinese manufacturing industry is higher than that of most Southeast Asian countries in terms of the narrowest monetary wage comparison.But the wage gap in purchasing power parity is small,and the absolute gap is narrowing fast.After expanding the research perspective to the comprehensive labor costs of enterprises including social security costs and other productive factors costs,it is found that Southeast Asian countries do not have absolute comparative advantages.In recent years,Southeast Asian countries have provided favorable income tax policies for foreign investment,but in the long run,the relevant preferential policies are unsustainable and have been greatly affected by the Two-Pillar international tax reform.The driving force of a new round of global industrial transfer has broken through the category of price comparative advantage of production factors,and other factors have gradually become the dominant force.Facing the future,we should break out of the shackles of the traditional thinking that the price of production factors and the cost of taxes and fees compete downward.To improve the international competitiveness of China's manufacturing industry,it depends on the development and utilization of human capital in a major country under the transformation of demographic dividend to talent dividend,on the retention and innovation of high value-added key links in the industrial chain,and on the comprehensive improvement of the business environment brought about by system optimization.
Industrial chain transferComprehensive labor costsTax and fee costsTalent dividends
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