Abstract:In the face of sluggish world economy and rising trade protectionism,Northeast Asia has strengthened cooperation in production capacity and proactively established a sound system of value chains. The practice of the “Belt and Road” Initiative at deeper levels helps expand the space for industrial cooperation between various economies,create a new growth point,and reshapes the regional economic structure of Northeast Asia. There is a strong practical basis for building the regional value chain of Northeast Asia:the highly complementary trade of Northeast Asian countries strengthens the vitality and resilience of regional value chain;the great consumption potential of Northeast Asia as the prospective largest consumption market in the world maintains the stability of downstream demand in the regional value chain. Therefore,in the new era,countries in the Northeast Asia must continue to deepen cooperation,further improve the top-level design,optimize the policy environment for production capacity cooperation,and guide enterprises to build the regional value chain. It is advisable to expand third-party market cooperation in both depth and breadth and change the single-field model of third-party market cooperation,so as to maximize the accumulation of functional cooperation results. It is also necessary to steadily and orderly advance the liberalization of trade in productive services and strengthen the trade in services of countries in Northeast Asia. Cooperation to fight the epidemic should be strengthened to make the regional value chain more resilient and sustainable and less vulnerable.
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