Economics

Strategies for selecting trading partners based on economic complexity of international trade networks: A comparison between Chinese and the US markets

Z. Ren, W. Du, et al.

This fascinating research, conducted by Zhuoming Ren, Wenli Du, Ziyi Zhao, Li Zhao, and Tongfeng Weng, delves into the complexities of trading partner selection through the lens of economic complexity theory. It reveals unique market dynamics and strategic insights into diversification and clustering within Chinese and US trade networks from 2001 to 2015.

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Playback language: English

Index

Abstract

This paper investigates the selection of trading partners using economic complexity theory, analyzing Chinese and US trade networks from 2001 to 2015. It explores multi-level considerations for exporting countries, revealing varying product diversification challenges and market clustering tendencies. China shows increasing product proximity, particularly in textiles, while the US shows decreasing proximities. Trading positions and product dependencies vary significantly between markets, highlighting distinct market dynamics and suggesting strategies for maximizing economic benefits based on product type and market.

Publisher

Humanities and Social Sciences Communications

Published On

Jul 16, 2024

Authors

Zhuoming Ren, Wenli Du, Ziyi Zhao, Li Zhao, Tongfeng Weng

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