Reshaping the structure of the World Trade Network: a pivotal role for China?
Abstract In recent years, the global trade landscape has undergone significant changes, particularly in the aftermath of the 2008 financial crisis and more recently as a consequence of Covid-19 pandemic. To understand the structure of international trade and the impact of these changes, this study a...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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SpringerOpen
2023-06-01
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| Series: | Applied Network Science |
| Subjects: | |
| Online Access: | https://doi.org/10.1007/s41109-023-00560-9 |
| _version_ | 1797801539750854656 |
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| author | Vu Phuong Hoang Carlo Piccardi Lucia Tajoli |
| author_facet | Vu Phuong Hoang Carlo Piccardi Lucia Tajoli |
| author_sort | Vu Phuong Hoang |
| collection | DOAJ |
| description | Abstract In recent years, the global trade landscape has undergone significant changes, particularly in the aftermath of the 2008 financial crisis and more recently as a consequence of Covid-19 pandemic. To understand the structure of international trade and the impact of these changes, this study applies a combination of network analysis and causal inference techniques to the most extensive coverage of available data in terms of time span and spatial extension. The study is conducted in two phases. The first one explores the structure of international trade by providing a comprehensive analysis of the World Trade Network (WTN) from various perspectives, including the identification of key players and clusters of strongly interacting countries. The second phase investigates the impact of the rising role of China on the global structure of the WTN. Overall, the results highlight a structural change in the WTN, evidenced by a variety of network metrics, around China’s rapid growth years. Additionally, the reshaping of the WTN is not only accompanied by a significant increase in trade flows between China and its partners, but also by a corresponding decline in trade among non-China-partner countries. These results suggest that China played a pivotal role in the restructuring of the WTN in the first decades of this century. The findings of this study shed light on the interpretation of the rapidly changing landscape of global trade. |
| first_indexed | 2024-03-13T04:52:01Z |
| format | Article |
| id | doaj.art-e82409c0830645ada77ab32bc183f6c7 |
| institution | Directory Open Access Journal |
| issn | 2364-8228 |
| language | English |
| last_indexed | 2024-03-13T04:52:01Z |
| publishDate | 2023-06-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Applied Network Science |
| spelling | doaj.art-e82409c0830645ada77ab32bc183f6c72023-06-18T11:09:24ZengSpringerOpenApplied Network Science2364-82282023-06-018112410.1007/s41109-023-00560-9Reshaping the structure of the World Trade Network: a pivotal role for China?Vu Phuong Hoang0Carlo Piccardi1Lucia Tajoli2Department of Management, Economics, and Industrial Engineering, Politecnico di MilanoDepartment of Electronics, Information, and Bioengineering, Politecnico di MilanoDepartment of Management, Economics, and Industrial Engineering, Politecnico di MilanoAbstract In recent years, the global trade landscape has undergone significant changes, particularly in the aftermath of the 2008 financial crisis and more recently as a consequence of Covid-19 pandemic. To understand the structure of international trade and the impact of these changes, this study applies a combination of network analysis and causal inference techniques to the most extensive coverage of available data in terms of time span and spatial extension. The study is conducted in two phases. The first one explores the structure of international trade by providing a comprehensive analysis of the World Trade Network (WTN) from various perspectives, including the identification of key players and clusters of strongly interacting countries. The second phase investigates the impact of the rising role of China on the global structure of the WTN. Overall, the results highlight a structural change in the WTN, evidenced by a variety of network metrics, around China’s rapid growth years. Additionally, the reshaping of the WTN is not only accompanied by a significant increase in trade flows between China and its partners, but also by a corresponding decline in trade among non-China-partner countries. These results suggest that China played a pivotal role in the restructuring of the WTN in the first decades of this century. The findings of this study shed light on the interpretation of the rapidly changing landscape of global trade.https://doi.org/10.1007/s41109-023-00560-9World tradeNetwork analysisCausal inferenceChina’s trade |
| spellingShingle | Vu Phuong Hoang Carlo Piccardi Lucia Tajoli Reshaping the structure of the World Trade Network: a pivotal role for China? Applied Network Science World trade Network analysis Causal inference China’s trade |
| title | Reshaping the structure of the World Trade Network: a pivotal role for China? |
| title_full | Reshaping the structure of the World Trade Network: a pivotal role for China? |
| title_fullStr | Reshaping the structure of the World Trade Network: a pivotal role for China? |
| title_full_unstemmed | Reshaping the structure of the World Trade Network: a pivotal role for China? |
| title_short | Reshaping the structure of the World Trade Network: a pivotal role for China? |
| title_sort | reshaping the structure of the world trade network a pivotal role for china |
| topic | World trade Network analysis Causal inference China’s trade |
| url | https://doi.org/10.1007/s41109-023-00560-9 |
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