Research on the Impact Mechanism of Anti-globalization Impact on the Restructuring of Manufacturing Industry Chain

Abstract

Based on the database of the Asian Development Bank and the Global Value Chain Research Institute of the University of International Business and Economics, this paper uses panel data from 2008 to 2018 to investigate the impact of anti-globalization on the industrial chain restructuring of China’s manufacturing industry and its mechanism from two aspects of connection and status. It is found that the impact of anti-globalization has a significant negative impact on the restructuring of China’s manufacturing industry chain, and its degree of inhibition on the status restructuring of the industry chain is deeper than that on the linkage restructuring of the industry chain. The reverse impact of globalization mainly affects the level of industrial chain reconstruction through three channels: restricting technology spillover effect, enhancing financing constraint effect and weakening human capital enhancement effect.