Title:
Study on the Economic Spillover Effect of China’s Monetary Policy on the Countries Along the “the Belt and Road”——Take Vietnam’s Agricultural Products as an example
Author:
Ruan Sihan
Advisor:
Dr. Zhang Li
Degree:
International Business Management
Major:
Master of Business Administration
Faculty:
บัณฑิตวิทยาลัย (Graduate School)
Academic year:
2566 (2023)
Published:
the 7th Stamford International conference “Leadership & Social Sustainability in the Tech -Driven Era” https://conference.stamford.edu
Abstract
This study discussed the trade of Vietnamese agricultural products, mainly PEST analyzing the trade of Vietnamese agricultural products and exchange rate changes. The purpose of this paper is to analyze the spillover effect of the current situation of China’s monetary policy on Vietnam’s agricultural currency floats.
There were four research objectives: 1) To analyzed the impact of economic spillover effect of China’s monetary policy political factors on Vietnamese agricultural products; 2) To analyzed the impact of economic spillover effect of China’s monetary policy economic factors on Vietnamese agricultural products; 3) To analyzed the impact of economic spillover effect of China’s monetary policy social factors on Vietnamese agricultural products; 4) To analyzed the impact of economic spillover effect of China’s monetary policy technological factors on Vietnamese agricultural products.
This paper adopted documentary research method by reviewed the PEST theory, the research status of domestic and foreign scholars is reviewed, to analyze the spillover effects of the current situation of China’s monetary policy on Vietnam’s agricultural products.
The paper found that: 1) In a stable political environment, China and Vietnam have similar political systems. The socialist system and the reform and opening-up policy have enabled the rapid development of both countries, which is conducive to the closer development and cooperation of bilateral trade. 2）Vietnam is extremely sensitive to China’s economy. The rapid development of China’s economy and its prudent monetary policy are conducive to the development of agricultural trade. 3）Due to historical and geographical reasons, Vietnam has frequent cultural and ethnic exchanges with China, which is conducive to promoting the diversified development of trade. 4）Vietnam’s agricultural products were still in the stage of rough processing, backward transportation and storage, and a single means of payment. China is a technological power, and high technology can effectively develop to refinement and artificial intelligence, which can boost the trade of agricultural products.
Make some recommendations: 1) Further improve policies to support agricultural product exports and increase support efforts; 2) Carry out various forms of trade to diversify border trade; 3) Emphasis on the spillover effects of monetary policy. Therefore, the current analysis of China’s monetary policy and the spillover effects on Vietnam area of countries along “the Belt and Road” has certain practical and theoretical significance.
Keywords: monetary policy, Agricultural trade, the belt and road, spillover effect, pest analysis