In the context of economic globalization,territory-based bilateral trade statistics are no longer compatible with the reality of cross-border flow of capital factor and rapid emergence of multinational firms.On the ba...In the context of economic globalization,territory-based bilateral trade statistics are no longer compatible with the reality of cross-border flow of capital factor and rapid emergence of multinational firms.On the basis of survey of literature studies,this paper has created a three-country model of bilateral trade based on ownership principle and demonstrated that ownership-based statistical system under this model can reflect bilateral trade volume and balance more objectively,truthfully and comprehensively.In addition to theoretical demonstration,this paper has revaluated China-US trade balance using ownership-based statistical methodology and the result indicates that the existing statistical system of trade severely overestimates the real level of China-US trade balance and FDI in China is a major reason behind increasing China-US trade surplus.展开更多
文摘In the context of economic globalization,territory-based bilateral trade statistics are no longer compatible with the reality of cross-border flow of capital factor and rapid emergence of multinational firms.On the basis of survey of literature studies,this paper has created a three-country model of bilateral trade based on ownership principle and demonstrated that ownership-based statistical system under this model can reflect bilateral trade volume and balance more objectively,truthfully and comprehensively.In addition to theoretical demonstration,this paper has revaluated China-US trade balance using ownership-based statistical methodology and the result indicates that the existing statistical system of trade severely overestimates the real level of China-US trade balance and FDI in China is a major reason behind increasing China-US trade surplus.
