An Analysis on the Competitiveness of Service Trade of China and Laos under the "One Belt and One Road" Initiative

Abstract

With the adjustment of the world economic structure and the shift of global industries from manufacturing to service industries under the trend of economic globalization, the service trade in the field of international economy and trade has become increasingly important. Service trade has become one of the important factors affecting a country's international competitiveness. At present, Laos' service trade has problems such as irrational industrial structure and weak capital. However, China's service trade development index ranking has remained at the 20th place in the world for three consecutive years, and the overall stability has been maintained. There is great trade complementarity in the service trade between the two countries. Based on the status quo of the service trade between China and Laos under the “One Belt and One Road” initiative, this article uses data analysis methods to study the competitiveness of China-Laos service trade, including China-Laos service trade value, comparative advantage index, trade competition index, and international market share etc., so as to draw the advantages and prospects of the development of China-Laos service trade, and finally put forward countermeasures to promote China-Laos service trade under the "Belt and Road" initiative.