Analysis on the causes of China-US economic and trade friction from the perspective of global value chain reconstruction

This paper analyzes the causes of trade friction between China and the United States from the perspectives of economic and trade status, structural upgrading and production link transfer, and calculates and compares the status changes of some industries in the global value chain between China and the United States by using the GVC-position index. The calculation results show that in the electrical equipment manufacturing and other industries, the gap of GVC-position between China and the United States has narrowed, which poses a competitive threat to the United States and is the main reason for the economic and trade friction between China and the United States. Finally, from the perspective of global value chain reconfiguration, this paper puts forward the countermeasures to China-US trade friction.