It's of great practical significance for China to analyze the outsourcing strategies implemented by the United States, which will help us formulate China's foreign economic policies correctly.
By reviewing the data on bilateral trade between China and the United States in recent years, this article draws the following three conclusions.
1. Through the implementation of the near-shoring strategy in recent years, the United States has made Canada and Mexico the main trading partners replacing China.
2. The United States and its allies are accelerating the promotion of the friend-shoring strategy, making ASEAN countries, East Asian and South Asian countries become key areas for the transfer of industrial and supply chains in the United States.
3. The United States has transformed off-shoring into on-shoring, in order to break away from its heavy dependence on China's key product imports.
This article proposes the following three strategic policy recommendations.
1. In response to the near-shoring strategy, we should encourage Chinese enterprises to speed up the pace of going global, target the US-Canada-Mexico Free Trade Zone as the investment region, strengthen the connections with the US-led industrial chains, and avoid the trade decoupling.
2. In response to the friend-shoring strategy, we need to differentiate their allies and different interest groups within the United States, reshape the new pattern of China's international economic cycle through a higher level of opening-up.
3. In response to the on-shoring strategy, we should optimize the investment and business environment, reduce transaction costs, as well as introduce and keep more foreign-invested enterprises.
