Report from our correspondent (reporter liu guomin) : the covid-19 epidemic is increasingly affecting the global value chain. China faces both opportunities and challenges in this process. "The epidemic has had a profound impact on the global value chain and supply chain: on the one hand, China's exports have been blocked, and on the other hand, it is difficult to import spare parts and intermediate products from Europe, the United States and east Asia." Wang xiaosong, a professor at renmin university of China's school of economics, said in a recent lecture entitled "covid-19 and the reshaping of the global value chain".
Xiao-song wang analysis, the qualitative change of contemporary international trade, the trade in goods to trade in tasks, different links to the genius of different roles, "such as apple tablets are divided into different modules, display module production in South Korea, mainland China and Taiwan, China, integrated circuit board production in Europe and other developed countries, the battery main production in China, Taiwan, microelectronics equipment produced in the United States, Italy and other countries. All in all, these parts come from different countries and regions, and together they form apple products."
"By 2017, there will be three trade centres in the world's traditional trade sectors: Germany, the us and China. Many European countries get their intermediates and components from Germany." "Germany, the United States and other countries severely affected by the epidemic are very important in the world economic arena," wang said.
In terms of the impact of the epidemic on China's industrial chain, wang xiaosong said that China is at the center of the global value chain and the hub of the value chain network. For example, China imports a large number of intermediate products, which account for more than 70% of China's total imports. At the same time, in the past, a large number of advanced equipment and parts were imported from the worst-affected countries. For example, nearly 40% of the engines were imported from the United States.
In terms of how to mitigate the impact of the epidemic on China's industrial chain, wang suggested that we should strengthen research and development, science and education to revitalize the country, promote high-quality development with new infrastructure, strengthen automated production, and promote smes to integrate into the digital economy and participate in the global value chain. "We should also attach importance to the development of new supply chains. Supply chain 4.0, based on industry 4.0, has quietly arrived. Supply chain 4.0 enables companies to reduce their involvement in the supply chain. It is expected to reshape global value chains, but it may be detrimental to developing countries." Xiao-song wang said, another key task is to implement the key intermediates of import substitution, in machinery and electronics equipment, aerospace and other fields, the situation of China's old there is dependence on imported key parts, in essence is the key technology of short board, "in this moment, if the Chinese people from all walks of life work together, to overcome technical challenges, extend the production chain, realize the key intermediate product import substitution, can overcome the negative impact on the industry chain, epidemic to realize double destinations of production development and technical progress."