The Research on the Influence of Financial Crisis on China and South Korea Chemical Products Trade
|School||Ocean University of China|
|Keywords||financial crisis China South Korea chemical product|
Since 2004,China became South Korea’s largest trading partner,bilateral trade has developed rapidly. With the development of chemical products in China to expand the scale and changes structure,China and South Korea trade of chemical products to become more important in bilateral trade.By the financial crisis,China and South Korea trade of chemical products was significantly slowed down the pace of development,Analysis of the financial crisis on China-ROK trade of chemical products to promote bilateral trade sustained,healthy and stable development.National competitive advantage theory,intra-industry trade theory, demand preference similarity theory and the technological gap theory is the basis of the analysis,In this paper, using combined methods of quantitative analysis and qualitative analysis to evaluate the 2004-2009 scale of China-ROK trade in chemical products,and analysis the target market share.Application of the international competitiveness index system to horizontal comparison of China and South Korea chemical products in order to get more intuitive and clear information.combined with analysis of intra-industry trade index model of China for South Korea’s chemical products trade patterns change,so evaluating the impact of financial crisis on the China-ROK Trade of chemical products.The results show that China-ROK trade in chemical products,mainly to Inter-industry trade between the two products,less competitive and highly complementary. In the index system of international competitiveness,in addition to the international market share and export growth advantage index,the other indexes are all lower than South Korea.According to the status of China-ROK chemical products trade in the context of financial crisis,Irrational product mix,products international competitiveness lower than Korea,manufacturing enterprises scale is too small,independent innovation capacity shortage exists in China and South Korea chemical products trade.These problems limit the development of China’s chemical industry is not conducive to the international competitiveness of China’s chemical products increased,hindering China’s chemical products trade status improve. In the context of the financial crisis,China-ROK chemical products trade volume showing a reduction trends,China’s deficit of chemical products trade to South Korea growth slowed down,and the competitiveness of chemical products of China and South Korea enhanced.Foreign direct investment,RMB exchange rate,demand,trade policy and market environment factors empirical analysis shows that the actual use of foreign direct investment is an important driving force of Chinese chemical products export to South Korea. During the financial crisis, the change of actual use of foreign direct investment caused the corresponding changes in exports of chemical products to Korea.According to China and South Korea trade chemical products trade development situation and problems, prospect the China-ROK chemical product trade after the financial crisis,reflect the way to optimize the pattern of China -ROK chemical products trade,and proposed the ways to strengthen the export competitiveness of chemical products respectively from industry, government, technology,manufacturer angles:optimize the structure of chemical products,increase policy to support chemical products export to South Korea,increase technological innovation,and strengthen cooperation in trade associations and corporate functions.In order to optimize China and South Korea chemical products trade patterns,enhance the ability for China’s chemical products trade to response the financial crisis,and promote the healthy development of China-ROK chemical product trade.