Core Insights - China has transformed into a central hub for value output, working alongside the US to drive global value circulation [1][2] - This transformation is driven by three structural forces: enhanced supply capacity, industrial upgrading, and deeper cross-border industrial connections [1] - The analysis emphasizes a shift from traditional vertical division of labor to a more collaborative and horizontally restructured value flow [1] Group 1: China's Role in Global Value Chains - China has become the most densely connected export node globally, maintaining the highest export centrality, indicating its significant role in global production networks [3] - The US holds the top position in import centrality, acting as the "final settler" of value, which reflects the "China produces, US consumes" model [3][6] - China's import centrality is also rising, making it an important recipient of global value, second only to the US [3] Group 2: Structural Dependence and Industry Insights - China's structural dependence in the global supply chain is highest across most manufacturing sectors, particularly in textiles, leather, and electrical optical equipment [11][12] - The US relies on external supply in several industries, while China shows a more decentralized and globalized import structure [6] - The distribution of structural dependence indicates that US output often requires passing through China to reach global endpoints [12] Group 3: Centrality Metrics and Economic Relationships - China ranks first in betweenness centrality, indicating its critical role as a "super router" in global trade, making it difficult for other economies to bypass [8] - The combination of structural dependence and core association metrics reveals that both China and the US are versatile central nodes in the global production network [14] - China's deep connections with core economies ensure its stability in technology standards and value distribution, even amidst global supply chain shifts [13] Group 4: Strategic Recommendations - To mitigate systemic risks while maintaining its central position, China should diversify its overseas production nodes and enhance cooperation with emerging economies [15] - Strengthening ties with high-value economies in Europe through advanced trade arrangements can solidify China's structural advantages [15]