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The Shifting Global Supply Chain Amid Tariff Turbulence
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作者 Wu Mengqi 《China's Foreign Trade》 2025年第2期20-22,共3页
The ongoing global tariff war,has left no country unscathed.China,in particular,has been significantly impacted,but it is far from alone in bearing the brunt of these trade tensions.
关键词 trade tensions tariff war China global supply chain
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US-tariffs are disrupting the global textile and apparel value chains resulting in higher prices in the U.S.
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《China Textile》 2025年第2期11-11,共1页
The U.S.administration's decision tounilaterally impose sweeping tariff increas-es on tmported goods represents a signifi-cant challenge to the existing global tradingsystem,which has long been structuredaround mu... The U.S.administration's decision tounilaterally impose sweeping tariff increas-es on tmported goods represents a signifi-cant challenge to the existing global tradingsystem,which has long been structuredaround multilateral(WTO),regional,andbilateral(FTA)trade agreements. 展开更多
关键词 global trading system regional trade agreements bilateral trade agreements us tariffs unilateral tariff increases multilateral trade agreements global textile apparel value chains global tradingsystemwhich
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Leverage the Strength of Arbitration to Empower the Stable Development of Global Supply Chains
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作者 Zhang Weilun 《China's Foreign Trade》 2025年第6期36-38,共3页
The 2025 Global Business and Law Conference focused on the construction of the rule of law and dispute resolution from a global perspective.Attendees paid close attention to the critical role of arbitration in safegua... The 2025 Global Business and Law Conference focused on the construction of the rule of law and dispute resolution from a global perspective.Attendees paid close attention to the critical role of arbitration in safeguarding global industrial and supply chains,while engaging in indepth discussions on how to enhance the adaptability,professionalism,and internationalization of dispute-resolution mechanisms. 展开更多
关键词 INTERNATIONALIZATION PROFESSIONALISM construction rule law rule law ADAPTABILITY ARBITRATION global supply chains dispute resolution
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Mining Industry:Implication of China’s Nickel Smelter Investment in Indonesia to the Global Value Chain
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作者 Anggara Raharyo 《China's Foreign Trade》 2025年第4期37-39,共3页
Cleaner air,lower dependency on oil,and lower emissions are just a few reasons to move away from combustion cars.In the wake of the emergence of more environmentally friendly technology,some countries have decided to ... Cleaner air,lower dependency on oil,and lower emissions are just a few reasons to move away from combustion cars.In the wake of the emergence of more environmentally friendly technology,some countries have decided to move away from traditional cars towards electric vehicles (EVs).The rise of the EV industry has created a shift in energy demand from oil-based to battery-based. 展开更多
关键词 global value chain cleaner air lower emissions lower oil dependency electric vehicles combustion cars nickel smelter China investment
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Restructuring Global Value Chains and Building a Community with a Shared Future with Neighboring Countries
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作者 Shen Minghui 《Contemporary International Relations》 2025年第4期36-45,共10页
The Central Conference on Work Related to Neighboring Countries held on April 8–9,2025,highlighted the importance of China's neighborhood as“a vital foundation for achieving development and prosperity,a key fron... The Central Conference on Work Related to Neighboring Countries held on April 8–9,2025,highlighted the importance of China's neighborhood as“a vital foundation for achieving development and prosperity,a key front for safeguarding national security,a priority area in managing overall diplomacy,and a crucial link in promoting the building of a community with a shared future for mankind.” 展开更多
关键词 development prosperity national security overall diplomacy global value chains neighboring countries RESTRUCTURING chinas neighborhood building community shared future
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Impact of heterogeneity of sanitary and phytosanitary measures on the upgrading of agricultural global value chains
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作者 DONG Yin-guo YANG Zun-rong SHAN Zhan-yao 《Ecological Economy》 2025年第3期202-213,共12页
With the deepening of international agricultural division of labor,trade methods have shifted from traditional bilateral trade to agricultural global value chain(AGVC)trade.Sanitary and Phytosanitary(SPS)measures are ... With the deepening of international agricultural division of labor,trade methods have shifted from traditional bilateral trade to agricultural global value chain(AGVC)trade.Sanitary and Phytosanitary(SPS)measures are a crucial factor affecting agricultural trade and a key variable in AGVC governance.This paper,based on the 2012-2020 University of International Business and Economics Global Value Chain Index(UIBE GVC Index)and the United Nations Conference on Trade and Development Non-Tariff Measures Database(UNCTAD NTMs Database),measures the structural heterogeneity and breadth heterogeneity of SPS measures.It also constructs mathematical models and fixed-effects models to explore the impact of SPS heterogeneity on AGVC upgrading.The findings reveal that the heterogeneity of SPS measures exerts a significant inhibitory effect on the upgrading of agricultural global value chains.Moreover,compared to developed countries,a reduction in SPS measures’heterogeneity demonstrates a more pronounced positive impact on AGVC upgrading in developing countries. 展开更多
关键词 Sanitary and Phytosanitary measures heterogeneity agriculture domestic value added in exports agricultural global value chain upgrading
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The Impact of Establishing Pilot Free Trade Zones on Integration Into the Digital Global Value Chain
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作者 Xie Dan 《Contemporary Social Sciences》 2025年第2期103-118,共16页
This study utilizes panel data from 293 Chinese cities at the prefecture level or above,spanning from 2013 to 2022,to empirically examine the net effects and underlying mechanisms of establishing pilot free trade zone... This study utilizes panel data from 293 Chinese cities at the prefecture level or above,spanning from 2013 to 2022,to empirically examine the net effects and underlying mechanisms of establishing pilot free trade zones(FTZs)on integration into the digital global value chain(DGVC).The results demonstrate that the establishment of pilot FTZs positively promotes integration into the DGVC and generates a spatial spillover effect.Compared to coastal areas and small-and medium-sized cities,pilot FTZs have a more significant impact on the integration of inland regions and large cities into the DGVC.Mechanism tests reveal that pilot FTZs drive integration into the DGVC primarily by promoting digital industry agglomeration and enhancing the technological content of exports.Furthermore,bilateral foreign direct investment and digital trade rules positively amplify the impact of pilot FTZs on integration into the DGVC.Therefore,this study recommends comprehensively deepening the development of pilot FTZs,consistently enhancing the technological content of exports,and proactively establishing a sound digital trade regulatory framework.These recommendations offer valuable insights for DGVC integration and the construction of a high-standard free trade network. 展开更多
关键词 pilot free trade zone(FTZ) integration into digital global value chain(DGVC) digital industry agglomeration content of technology exports
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Global Value Chain Restructuring:Challenges,Opportunities and Strategies for China 被引量:19
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作者 Dai Xiang Zhang Yu 《China Economist》 2021年第5期132-160,共29页
Global value chains(GVCs)have entered a new stage of restructuring characterized by trends towards localization,regionalization and diversification.These trends can be attributed to the evolution of the international ... Global value chains(GVCs)have entered a new stage of restructuring characterized by trends towards localization,regionalization and diversification.These trends can be attributed to the evolution of the international division,irrational responses to crisis shocks,and trade protectionism.In this context,China’s industrial and supply chain upgrades face both opportunities and challenges which require navigating the adverse effects of industrial re-shoring,unfair technology competition,and changes in the global industrial layout.Yet,such challenges may create pressures for China to accelerate innovation,overcome the low-end lock-up effect by creating regional value chains,and broaden international cooperation.China needs to explore an effective strategy to defuse risks and seize opportunities.On one hand,China should influence the restructuring of GVCs evolution and strengthen its supply chains by playing an active role in economic globalization and the international division.On the other hand,China should proactively respond to GVCs restructuring amid rising trade protectionism,defuse risks from trade protectionism by opening wider to the outside world,and strive to upgrade industrial and supply chains while enhancing the security and stability of their nation. 展开更多
关键词 global value chains LOCALIZATION REGIONALIZATION DIVERSIFICATION
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Spatial Interaction Between the Industrial Undertaking Capacity and Global Value Chain Position of East Asian Countries 被引量:6
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作者 ZHU Binbin CHI Fangyuan DU Lei 《Chinese Geographical Science》 SCIE CSCD 2021年第1期81-92,共12页
A comprehensive understanding of the spatial interaction between the industrial undertaking capability and the position of the global value chain of the 12 East Asian countries is conducive to strengthening regional c... A comprehensive understanding of the spatial interaction between the industrial undertaking capability and the position of the global value chain of the 12 East Asian countries is conducive to strengthening regional cooperation, gaining a say in foreign trade and becoming the dominant player in the global division of labor system. The article reveals the operating rules of the interaction between the industrial undertaking capacity and the global value chain position of East Asian countries by calculating the Global Moran Index(Moran’s I), coupling coordination degree and other indicators. The results show that: in time, the values of industrial undertaking capacity and the positions of global value chain in East Asian countries showed a sustained and stable growth trend, and have a consistent trend of change. Spatially, both of the two indexes had significant positive spatial correlation, with Moran’s I showing an ‘inverted U’pattern, and the spatial aggregation distribution of global value chain position lagged behind the spatial aggregation distribution of industrial undertaking capacity by one year. In terms of spatial coupling coordination, the coupling coordination values of the two indicators show a steady upward trend. Combined with the comparative advantage of each country, this paper provides suggestions for promoting the positions of Chinese and other East Asian industries in the global value chain from the perspectives of enhancing independent innovation capability and upgrading industrial structure. 展开更多
关键词 12 countries East Asian countries industry undertaking capability global value chain position spatial interaction
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Does strict environmental regulation enhance the global value chains position of China's industrial sector? 被引量:3
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作者 Jin-Chao Wang Zhi-Da Jin +1 位作者 Mian Yang Sameen Naqvi 《Petroleum Science》 SCIE CAS CSCD 2021年第6期1899-1909,共11页
Given the vital importance of global value chains(GVCs)position for a country's international competitiveness,this paper tries to investigate the impacts of environmental regulation on the GVCs position of China&#... Given the vital importance of global value chains(GVCs)position for a country's international competitiveness,this paper tries to investigate the impacts of environmental regulation on the GVCs position of China's industrial sector.Using the latest value-added decomposition method,we first measure the GVCs position of China's industrial sector from 2003 to 2014.Subsequently,both two-stage least squares(2 SLS)method with panel data and mediating effect model are employed to empirically examine the effects of environmental regulation on China's position in GVCs.The results indicate that environmental regulation has significantly upgraded the GVCs position of China's industrial sector,and the effect is more evident for the sub-sectors with originally lower GVCs position.The mediation effect test shows that increasing R&D investment is an important channel through which environmental regulation affects the GVCs position of China's industrial sector,which verifies the existence of the Porter hypothesis.Further analysis finds that the enhancement of GVCs position of China's industrial sector caused by environmental regulation is mainly achieved through reducing the backward GVCs position. 展开更多
关键词 Environmental regulation global value chains Porter hypothesis Industrial sector
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Re-Evaluation of China's Service Trade Competitiveness: A Global Value Chain Perspective 被引量:2
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作者 Cheng Dazhong Zheng Lekai Wei Ruqing 《China Economist》 2018年第3期14-25,共12页
Based on the Worm Input-Output Database (WIOD), this paper conducts a forward-linkage decomposition of value-added in trade to estimate China's service value-added exports and its service sector's international co... Based on the Worm Input-Output Database (WIOD), this paper conducts a forward-linkage decomposition of value-added in trade to estimate China's service value-added exports and its service sector's international competitiveness during 2000- 2014. Result indicates that during the sample period, China's service exports measured by forward-linkage decomposition method accounted for around 35% in its total export. While the value of services exported directly through the service sector accounted for a falling share, the value of services exported through other sectors represented an increasing share. China ranks second in the world in terms of market share of service exports. However, the revealed comparative advantage (RCA) of China's service exports and export sophistication remains limited. 展开更多
关键词 global value chain service sector competitiveness of service trade trade in value-added(TiVA)
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Parameterless Pruning Algorithms for Similarity-Weight Network and Its Application in Extracting the Backbone of Global Value Chain 被引量:2
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作者 Lizhi Xing Yu Han 《Journal of Data and Information Science》 CSCD 2022年第1期57-75,共19页
Purpose:With the availability and utilization of Inter-Country Input-Output(ICIO)tables,it is possible to construct quantitative indices to assess its impact on the Global Value Chain(GVC).For the sake of visualizatio... Purpose:With the availability and utilization of Inter-Country Input-Output(ICIO)tables,it is possible to construct quantitative indices to assess its impact on the Global Value Chain(GVC).For the sake of visualization,ICIO networks with tremendous low-weight edges are too dense to show the substantial structure.These redundant edges,inevitably make the network data full of noise and eventually exert negative effects on Social Network Analysis(SNA).In this case,we need a method to filter such edges and obtain a sparser network with only the meaningful connections.Design/methodology/approach:In this paper,we propose two parameterless pruning algorithms from the global and local perspectives respectively,then the performance of them is examined using the ICIO table from different databases.Findings:The Searching Paths(SP)method extracts the strongest association paths from the global perspective,while Filtering Edges(FE)method captures the key links according to the local weight ratio.The results show that the FE method can basically include the SP method and become the best solution for the ICIO networks.Research limitations:There are still two limitations in this research.One is that the computational complexity may increase rapidly while processing the large-scale networks,so the proposed method should be further improved.The other is that much more empirical networks should be introduced to testify the scientificity and practicability of our methodology.Practical implications:The network pruning methods we proposed will promote the analysis of the ICIO network,in terms of community detection,link prediction,and spatial econometrics,etc.Also,they can be applied to many other complex networks with similar characteristics.Originality/value:This paper improves the existing research from two aspects,namely,considering the heterogeneity of weights and avoiding the interference of parameters.Therefore,it provides a new idea for the research of network backbone extraction. 展开更多
关键词 Inter-Country Input-Output Table global Production System global Value chain Network Backbone Extraction
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Effects of Global Value Chain Position on the Carbon Emissions of Manufacturing Industry in China: An Empirical Study Based on the STIRPAT Model 被引量:1
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作者 Zhang Hongxia Zhang Zhe Sheng Kerong 《Meteorological and Environmental Research》 CAS 2018年第5期52-57,共6页
Based on the input-output data from the World Input-Output Database( WIOD),the global value chain( GVC) position of China's manufacturing industry from 2003 to 2014 was calculated,and the relationship between the ... Based on the input-output data from the World Input-Output Database( WIOD),the global value chain( GVC) position of China's manufacturing industry from 2003 to 2014 was calculated,and the relationship between the carbon emissions and global value chain position of China's manufacturing industry was studied based on the improved STIRPAT model. The results show that the improvement of global value chain position could significantly reduce the carbon emissions of China's manufacturing industry. In addition,foreign investment and energy structure hindered the low-carbon development of China's manufacturing industry. The effects of population size and research intensity on the carbon emissions of manufacturing industry were not significant. In the process of participating in the global value chain,China's manufacturing industry should effectively reduce carbon emissions by strengthening environmental regulation,optimizing energy structure and improving production technology. 展开更多
关键词 Manufacturing industry Carbon emission global VALUE chain POSITION
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China's Position in Global Value Chains Compared with the EU,U.S.and Japan 被引量:1
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作者 赖伟娟 钟姿华 《China Economist》 2017年第6期86-99,共14页
By creating a five-country I-O model of China, EU, US, Japan and other countries, this paper decomposes gross export into nine parts and investigates the GVC positions and competitiveness of China and the other three ... By creating a five-country I-O model of China, EU, US, Japan and other countries, this paper decomposes gross export into nine parts and investigates the GVC positions and competitiveness of China and the other three economies for different sectors using real domestic trade in value-added and GVC position indices. In addition, valueadded trade is taken into consideration to identify the labor division characteristics of the four economies in the GVC, which led to the following findings: China participates primarily in the single links of the GVC at the downstream yet shows a significant tendency to move upstream in technology-intensive sectors; Japan participates primarily in the single links of the GVC at the upstream and boasts an advantage in technology-intensive sectors; the US participates in the multiple links of the GVC at the upstream with superiority in hightechnology sectors; the EU participates in the production and export of intermediate goods and final goods at both ends. 展开更多
关键词 global value chains trade in value-added GVC position indices value-added trade
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The Impact of Outsourcing on Local Industry Upgrading: a Case of China from a Global Value Chain Perspective 被引量:2
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作者 赵君丽 LI Laubie 《Journal of Donghua University(English Edition)》 EI CAS 2011年第3期261-266,共6页
This paper develops a conceptual model to assess effect of outsourcing by integrating the theories of industrial upgrading and global value chain (GVC) governance. Contrary to the widely accepted perception that outso... This paper develops a conceptual model to assess effect of outsourcing by integrating the theories of industrial upgrading and global value chain (GVC) governance. Contrary to the widely accepted perception that outsourcing is expected to generate positive spillover in particular, the findings indicate that outsourcing has different effects in different GVC governance modes. Excess outsourcing could structurally inhibit technology and management spillovers to subcontractors within the emerging economy context. Based on a case study of the Chinese textile and apparel (T & A) industry, it is found that the Chinese T & A industry has been trapped in the captive governance relationship with foreign buyers, and at the same time is capped below the function upgrading level. Consequences of the situation and implication are then discussed. 展开更多
关键词 OUTSOURCING SPILLOVER global value chain governance Chinese textile and apparel industry industrial upgrading
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Cross-border Urban Networks Based on Manufacturing Global Value Chain:A Study of Listed Companies in Western China 被引量:1
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作者 MAN Shan YANG Yongchun +1 位作者 ZENG Tonggang WANG Meimei 《Chinese Geographical Science》 SCIE CSCD 2023年第6期1033-1052,共20页
Cross-border investment is essential for western China’s globalization.Global value chain(GVC)forms cross-border investment networks between industries in western China and overseas cities.Focusing on GVC,this study ... Cross-border investment is essential for western China’s globalization.Global value chain(GVC)forms cross-border investment networks between industries in western China and overseas cities.Focusing on GVC,this study uses the social network analysis method,entropy method,multi-index comprehensive evaluation method,and quadratic assignment procedure analysis method to examine the characteristics and influencing factors of the urban networks of research and development(R&D),production,and sales formed as a result of the overseas investments of listed manufacturing companies in western China.Results showed that the three types of investment networks involved multiple industry types and multiple central cities with differentiated diversity and multicentrality.The R&D urban network’s leading sub-industries were the mechanical equipment and instruments,medicine and biological products,and metal and nonmetal industries.The destination cities were mostly those home to educational and scientific research centers.The production urban network’s leading sub-industries were the mechanical equipment,instrument,and food and beverage industries.The destination cities were mostly regional central cities in developing countries.The sales urban network’s leading sub-industries were the mechanical equipment and instrument,metal and nonmetal,and petrochemical and plastics industries.The destination cities were numerous and scattered.In addition,the R&D urban network easily formed specialized clusters,core nodes easily controlled the production urban network,and individual nodes did not easily control the sales urban network.Technological and economic system advantages greatly impacted the three network types.Considering the different influencing factors,this study suggests optimizing the institutional investment environment to narrow the institutional gap,adjusting and optimizing the investment layout to expand overseas markets,and increasing R&D funds to stimulate technological progress and overseas investments in western China. 展开更多
关键词 manufacturing industry global value chain(GVC) overseas investment cross-border networks western China
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THE GLOBAL TECTONIC SYSTEMS AND A LATITUDINAL MOUNTAIN-PLATEAU CHAIN ON THE NORTH HEMISPHERE
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作者 Ma Zongjin(Institute of Geology,China Seismological Bureau,Beijing 100029,China) 《地学前缘》 EI CAS CSCD 2000年第S1期344-345,共2页
Three global tectonic systems that formed since the middle Jurassic (160Ma ago)are outlined based on the global map of the Cenozoic and Mesozoic tectonics edited by Ma Zongjin et al.(1996).They are the circum\|Pacific... Three global tectonic systems that formed since the middle Jurassic (160Ma ago)are outlined based on the global map of the Cenozoic and Mesozoic tectonics edited by Ma Zongjin et al.(1996).They are the circum\|Pacific tectonic system,the mid\|ocean ridge tectonic system and the intra\|continental tectonic system of the north hemisphere.The map shows that about 80% of the total length of the continental orogens are concentrate on the north hemisphere of the earth,of which a latitudinal mountain\|plateau chain occur within a zone between north latitude 20°and 50°.Seismic and volcanic activities demonstrate that the intracontinental tectonic system on the north hemisphere is still active.Whilst distribution of the continental deep\|focus earthquakes and almost ultra high\|pressure rock found so far over the World,that are assumed both related to recent or previous deep subduction of continent,along with this zone.The latitudinal mountain\|plateau chain is subdivided into four active tectonic region of Qinghai—Xizang(Tibet),Iranian,eastern mediterranean and North American,both characterized by an individual similar mountain\|plateau\|basin structure with major active boundaries or controlling faults (Fig.1).These active regions are all close to primary dynamic boundaries of continent\|continent collision.Solution of source mechanisms shows that regional tectonic stress field in these regions are dominated by a nearly NS or NNE—SSW direction compression corresponding to a local plate motions and a global compressive zone.Correlation between the formation of the continental latitudinal mountain\|plateau chain on north hemisphere and the oceanic plate tectonics is discussed using the information of the “Map of Magnetic Lineations of the World’s Ocean Basins (Cande et al.,1989)”and the Cenozoic and Mesozoic tectonic evolution in the continents.Total 49 accretion units formed during 6 accretion stages of the ocean spreading in three chief oceans (the Pacific,the India and the Atlantic)si nce 160Ma ago,are subdivided.The distinguished oceanic accretion tectonics in combination with the geometrical and kinematics data of adjust continental f ragments allowed outline of the development of the continental latitudinal tecto nic zone of north hemisphere.Whilst,two global asymmetrical geodynamic systems of north\|south an east\|west direction,that may be composed of meridional conve ction,latitudinal convection and inertial flow resulting from the variation of the Earth’s rotational velocity,are used to discuss on the two global geodynamic systems in which the intracontinental latitudinal tectonic zone developed. 展开更多
关键词 global asymmetrical SYSTEM geodynamics mountain\| PLATEAU chain SEISMOTECTONIC SYSTEM latitudinal TECTONIC zone
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Study on the Improvement of Performance of Global Supply Chain Based on Quantity Flexibility Revenue Sharing Contract
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作者 Yang LIU 《Asian Agricultural Research》 2015年第7期13-18,共6页
The main propose of this study is to manage the demand risk and the exchange rate risk at the same time. Based on a two-echelon decentralized global supply chain,combined with the model equilibrium,this paper studies ... The main propose of this study is to manage the demand risk and the exchange rate risk at the same time. Based on a two-echelon decentralized global supply chain,combined with the model equilibrium,this paper studies the difference between the quantity flexibility contract and the revenue sharing contract. By the transmitting of exchange rate risk,it discusses the node-enterprises' optimal strategies. Hence,it designs a quantity-flexibility-revenue-sharing contract to improve the performance of this global supply chain. The result shows that both the quantity flexibility contract and the revenue sharing contract cause the exchange rate risk to transfer from one enterprise to the other; the exchange rate risk will have different impact on the quantity flexibility contract and the revenue sharing contract because of the difference in the transfer payments at the end of the sales season; by designing a hedging strategy with these two different transfer payments,the quantity-flexibility-revenue-sharing contract can manage the demand risk and the exchange rate risk at the same time. 展开更多
关键词 global supply chain EXCHANGE RATE RISK Quantity FL
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Global Value Chain Embeddedness,Knowledge Spillovers,and Clustered Firms' Innovation Performance
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作者 王雷 姚洪心 《Journal of Donghua University(English Edition)》 EI CAS 2014年第1期72-79,共8页
Empirical evidence of the effects of global value chain( GVC) embeddedness on clustered firms' innovation is presented in this paper. The intermediary roles of the two types of knowledge spillover( explicit and im... Empirical evidence of the effects of global value chain( GVC) embeddedness on clustered firms' innovation is presented in this paper. The intermediary roles of the two types of knowledge spillover( explicit and implicit) in GVC embeddedness and clustered firms' innovation are considered, and the effects of structure embeddedness,relationship embeddedness,and acknowledgement embeddedness on clustered firms' innovation are examined. Analysis is based on the sample of 134 export-oriented firms from the Shaoxing industrial cluster in Zhejiang province of China. Results show that although GVC embeddedness is associated with high use of external knowledge sources,clustered firms' innovation is promoted indirectly through explicit knowledge spillover. Intrinsic connections exist among the different dimensions of GVC embeddedness,that is,structure embeddedness not only directly improves relationship embeddedness but also indirectly improves acknowledgement embeddedness through relationship embeddedness. 展开更多
关键词 global value chain(GVC) explicit knowledge spillover implicit knowledge spillover innovation performance
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Comparison on global supply chain purchasing strategies based on supply contracts
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作者 朱莉 赵林度 Lothar Schulze 《Journal of Southeast University(English Edition)》 EI CAS 2007年第S1期51-56,共6页
In the global supply chain in a setting characterized by exchange rate uncertainties,it is quite necessary to focus on comparative research trying to find out which kind of purchasing strategy is better in different s... In the global supply chain in a setting characterized by exchange rate uncertainties,it is quite necessary to focus on comparative research trying to find out which kind of purchasing strategy is better in different situations.The two common global purchasing strategies,risk sharing(RS)and quantity flexibility(QF),are selected to be compared.Using a real-options approach,the valuation models of RS and QF purchasing contracts are established.By means of binomial lattice technique,numerical simulation and sensitivity analysis of two stochastic dynamic programs are presented.The effects on expected discounted value by changing relative parameters are described clearly.Based on comparative analysis,it is concluded that the QF purchasing strategy is better than that of the RS especially where great volatility exists for exchange rate processes in the global supply chain. 展开更多
关键词 global supply chain supply contracts global purchasing real options binomial lattice exchange rate uncertainty
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