Abstract
With the increasing economic importance of the Asia-Pacific Region, the economic interdependence among countries in the region has gradually enhanced. With the continuous opening up of the two countries, Sino-Vietnamese economic relations have also been deepened. However, the export trade between Vietnam and China has been competitive. China and Vietnam seek to dominate or join an agreement that is conducive to their own trade, which also exacerbates the trade competition between the two countries. This paper compares China and Vietnam and analyzes their foreign trade data from 2005 to 2014. By analyzing the competitiveness of export commodities, the trade division effect and spatio-temporal changes of the geo-economic relationship in the Asia-Pacific Region, this study explores Sino-Vietnamese trade relations and compares the pattern of geo-economic evolution between the two countries. The findings show that China and Vietnam have similarities and substitutability in textiles, apparel and footwear in terms of commodity structure. There is already a trade diversion effect between Vietnam and China on these commodities, but it is not substantial. From a geographic perspective, China’s geo-economic relations in the Pacific Rim present an increasingly dispersed trend. However, the spatial pattern of Vietnam’s geo-economy has maintained a low-level and stable spatial agglomeration over the last decade.
Highlights
What are the development trends of Vietnam and China’s geo-economic relations in the Pacific Rim? What are the similarities and differences in the pattern of geo-economic evolution between the two countries? To answer these questions, we examine the volume of bilateral trade that can objectively describe the geo-economic relationship between two countries
We focused on Vietnam and China, and we concentrated on the Asia-Pacific Region
By comparing the main export commodities of the two countries from 2005 to 2014 (Table 1), it can be seen that China’s main export products were concentrated in three categories identified by the Standard International Trade Classification Revision 3 (SITC Rev. 3; for details, see Appendix A): machinery and transport equipment (7), miscellaneous manufactured articles (8), and manufactured goods (6), and we can see there were few changes during this period
Summary
In the 21st century, international society entered an era of large-scale shifts in power [1], and the world political and economic center is shifting towards the Asia-Pacific Region. As China’s economy has rapidly developed, its global influence has increased. As a small newly industrialized economy, has gained increasing economic strength and influence in the Asia-Pacific Region. Vietnam has a high degree of trade linkages with China, but it is highly vulnerable to any trade restrictions. It will result in “a tilt toward a third power such as US” [3]
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