The Asia-Pacific region is the most dynamic part of the global economy.After over 50 years of continuously expanding trade,investment and industrial cooperation,the region has formed a highly-tied multi-level labor di...The Asia-Pacific region is the most dynamic part of the global economy.After over 50 years of continuously expanding trade,investment and industrial cooperation,the region has formed a highly-tied multi-level labor division system covering vertical integration and horizontal complementarity of industrial chains.From the V-shaped development model in the twentieth century to the East Asian production network in the twenty-first century,the intra-industry and intra-product division of labor in the Asia-Pacific region has been ever deepening.However,due to the region’s high dependence on the U.S.market,the division of labor model in the Asia-Pacific suffers structural problems and is relatively fragile.Under the shock of Trump 1.0,countries in the Asia-Pacific region were forced to make adaptive adjustments,causing short-term turmoil in the regional economic order.Trump’s strong return in 2025,driven by the“America First”principle,brought forth a series of policies with strong unilateralism,isolationism and protectionism tendencies within just a few months。展开更多
文摘The Asia-Pacific region is the most dynamic part of the global economy.After over 50 years of continuously expanding trade,investment and industrial cooperation,the region has formed a highly-tied multi-level labor division system covering vertical integration and horizontal complementarity of industrial chains.From the V-shaped development model in the twentieth century to the East Asian production network in the twenty-first century,the intra-industry and intra-product division of labor in the Asia-Pacific region has been ever deepening.However,due to the region’s high dependence on the U.S.market,the division of labor model in the Asia-Pacific suffers structural problems and is relatively fragile.Under the shock of Trump 1.0,countries in the Asia-Pacific region were forced to make adaptive adjustments,causing short-term turmoil in the regional economic order.Trump’s strong return in 2025,driven by the“America First”principle,brought forth a series of policies with strong unilateralism,isolationism and protectionism tendencies within just a few months。
