A Review on the Reconstruction of Global Value Chain in China's Manufacturing Industry

Abstract

: With the continuous promotion of international economic division of labor, the manufacturing value chain is constantly differentiating and integrating globally, and the restructuring of the global value chain is an important issue. After reviewing existing literature, it has been found that the global value chain reconstruction of China's manufacturing industry mainly involves three paradigms: producer driven, buyer driven, and co driven by producers and buyers; In terms of internal mechanisms, the driving factors that affect the reconstruction of China's manufacturing global value chain mainly include new value allocation, the evolution of international division of labor within products, the re decomposition and integration of the value chain, scientific and technological progress, and major risk events. The main obstacles include the loss of cost advantages of factors, conflicts with digital trade rules, low global value chain competitiveness, long-term trapped in the low-end of GVC, and the lack of core technological capabilities Six factors, including internal disharmony in the value chain cycle system; On this basis, this article further sorts out the paths for China's manufacturing industry to break through the "low-end lock-in" trap of the global value chain and achieve global value chain reconstruction, including: coordination at the macro, meso, and micro levels, interaction at the three levels of the industrial chain, supply chain, and value chain, as well as mutual penetration of GVC, RVC, and NVC.