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The US–China relations and the impact of the US–China trade war: Global value chains analyses

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  • Meng, Bo
  • Gao, Yuning
  • Zhang, Tao
  • Ye, Jiabai
  • Zhang, Yaxiong

Abstract

This study investigates the US–China relations and examines the impact of the US–China trade war on the global economy through the lens of global value chains (GVCs). Against the backdrop of the global transition from hyperglobalization to slowbalization, we review the US-China relationship from the perspectives of cooperation, competition, and conflict. Furthermore, the GVC extended computable general equilibrium model is utilized to reveals the impact of the trade war. The primary findings indicate that an economy is highly dependent on its position and level of engagement in GVCs. The regions situated upstream of China’s GVC will suffer greater losses, whereas high-tech exporters may gain from the trade diversion caused by the United States’ export control to China regardless of the GVC positions. The essence of the US–China trade war, the contradictory stances behind the trade war, and the outlook of the US–China relations in GVCs are discussed.

Suggested Citation

  • Meng, Bo & Gao, Yuning & Zhang, Tao & Ye, Jiabai & Zhang, Yaxiong, 2025. "The US–China relations and the impact of the US–China trade war: Global value chains analyses," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 1896-1908.
    • Handle: RePEc:eee:ecanpo:v:87:y:2025:i:c:p:1896-1908
    DOI: 10.1016/j.eap.2025.07.038
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    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis

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