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The Development Trend of Global Service Trade (No.163, 2019)
2019-10-25
By Zhang Qi, Luo Yuze, Xu Hongqiang & Chen Hongna, Research Team on “Strategic Options for the Promotion of China’s Service Trade Competitiveness”, Research Department of Foreign Economic Relations, DRC
Research Report, No.163, 2019 (Total 5663) 2019-9-18
Abstract: The opening up of the service sector and the development of service trade grant an important access for all countries to get integrated into economic globalization and participate in international competition and cooperation. In recent years, the rapid development and wide application of new digital information technologies driven by a new round of technological revolution have generated various changes in driving forces, development modes and market entities in the course of global service trade development. Through making much leeway for further growth, service trade has become a new driver for global trade and economic growth. Its position in driving economic growth and fleshing out the global value chain has become increasingly important. As a focus of economic growth of all countries and global competitions, service trade has also become an arena for rules making. Amid complicated international environment and volatile changes in global economic pattern, the United States and European countries have accelerated the readjustment of international economic and trade rules. In face of the above-mentioned facts, China needs to take a holistic stance and have a clear understanding of the development trend of service trade in the world so as to embrace unprecedented new opportunities and cope with relevant challenges.
Key words: service trade, global value chain, readjustment of international economic and trade rules
