Demand Potential for Agricultural Trade between China and Countries along the “Belt and Road”

International agricultural markets are an important part of the global food resource chain. Tapping into the potential of agricultural trade between China and countries along the "Belt and Road" (B&R) is conducive to safeguarding China's and the world's food security, but there is less literature on the potential of bilateral trade demand. This paper ranks the B&R countries according to the scale of imports and exports, and calculates the elasticity of demand for imports, the elasticity of substitution for exports, and, finally, the potential of elasticity of demand for trade between China and the major B&R countries. The results show that China's agricultural export potential to major B&R countries is ranked as follows: Indonesia, Thailand, Russia, Poland, Turkey, Vietnam, Malaysia, Ukraine, India, and Singapore. The major B&R countries are also ranked in terms of their export potential to China: Vietnam, India, Ukraine, Russia, Malaysia, Thailand, Indonesia, Poland, Singapore, and Turkey. The findings of this paper provide a decision-making basis for promoting agricultural trade between China and B&R countries.

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Publication Details

Journal
Foods
Published
2024-10-09
DOI
https://doi.org/10.3390/foods13193210
Citations
2
Primary Topic
Global trade and economics
Type
article
Field-Weighted Citation Impact
1.66

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article

Demand Potential for Agricultural Trade between China and Countries along the “Belt and Road”

Lunzheng Zhou, Lu He, Guangji Tong, Jiaguo Qi
2 citations
Foods
Global trade and economics
1.66
article

Demand Potential for Agricultural Trade between China and Countries along the “Belt and Road”

Lunzheng Zhou, Lu He, Guangji Tong, Jiaguo Qi
article en
2 citations

Abstract

International agricultural markets are an important part of the global food resource chain. Tapping into the potential of agricultural trade between China and countries along the "Belt and Road" (B&R) is conducive to safeguarding China's and the world's food security, but there is less literature on the potential of bilateral trade demand. This paper ranks the B&R countries according to the scale of imports and exports, and calculates the elasticity of demand for imports, the elasticity of substitution for exports, and, finally, the potential of elasticity of demand for trade between China and the major B&R countries. The results show that China's agricultural export potential to major B&R countries is ranked as follows: Indonesia, Thailand, Russia, Poland, Turkey, Vietnam, Malaysia, Ukraine, India, and Singapore. The major B&R countries are also ranked in terms of their export potential to China: Vietnam, India, Ukraine, Russia, Malaysia, Thailand, Indonesia, Poland, Singapore, and Turkey. The findings of this paper provide a decision-making basis for promoting agricultural trade between China and B&R countries.

FoodsVol. 13(19)
East China Jiaotong University (CN), Harbin Institute of Technology (CN), Northeast Forestry University (CN), Michigan State University (US)
China Scholarship Council
Zero hunger
Openalex Percentile: Top 13%
Global trade and economics
1.66
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