Rising Role of China in the Asia-Pacific Interconnected Economies: Current Status and Future Opportunities

Abstract

This paper investigates the rising role of China in the Asia-Pacific interconnected economy. This research utilizes export data to analyze, includes the quarterly international export data of Australia and Japan with its partner countries, the export data with China, Japan and the US as partner country with the typical countries include Canada, Mexico, USA, Australia, Japan, Chile, New Zealand, China and Indonesia. The results indicate that a) the significant role of China in international GVCs and in Asia-Pacific interconnected economy, b) the flourishing transaction value between these three years indicates the rising role of China all over the world, c) the essential position of the Chinese economy in the Asian economy, the joint Asia-Pacific economy, the potential of China as a developing country economy and the strength of its domestic industries. As for managerial implications, China is recommended to seize the initiative, expand its influence and insist on the development of Belt and Road strategy. The limitation of this study is that the diversity of observations. In a broader sense, more research is required to determine the universality or internationalization of the study subjects and comparisons across numerous time periods. Additionally, some industries may have an impact on each nation's export transaction values; this is a topic that merits additional study and application.