Exploring the mutualistic symbiotic mechanism of industrial transfer between China and the countries along the "Belt and Road"

Abstract

The construction of a "Community of Shared Future for Mankind" requires a concept of mutual benefit and coexistence. The implementation of the "Belt and Road" initiative cannot be separated from the strategy of industrial transfer. Whether the industrial transfer between China and the countries along the "Belt and Road" can achieve the mutual benefit and coexistence of bilateral industries is related to the quality and stability of the joint construction of the "Belt and Road". It can also provide empirical evidence to respond to some countries' doubts about the motives of the "Belt and Road" initiative. This article analyzes the mutual benefit and coexistence effects and their mechanisms of industrial transfer between China and countries along the "Belt and Road" from three dimensions of the mutual benefit and coexistence relationship: integration, interaction, and coordination. It uses the EORA world input-output data from 2003 to 2021 for empirical verification. The research results show that the overall level of industrial mutual benefit and coexistence between China and the countries along the "Belt and Road" continues to improve, but the differences between different industries and regions are significant; the industrial transfer between China and the countries along the "Belt and Road" can promote the mutual benefit and coexistence of bilateral industries. This promotion is mainly achieved by strengthening regional value chain cooperation and improving the level of industrial agglomeration. The mutual benefit and coexistence effects of industrial transfer between China and the countries along the "Belt and Road" vary in regions, industries, and time periods. The effects are more significant with the industrial transfer from developed countries along the route, the industrial transfer from medium and high-tech industries, and the industrial transfer after the initiative proposed. The research of this article provides important implications for deepening the industrial transfer between China and the countries along the "Belt and Road" and constructing a system of regional value chain cooperation with mutual benefit and coexistence.