The trade competitiveness index TC index can reflect the competitiveness of a country's products in the international market. The closer the index is to 1, the stronger the competitiveness. When it is equal to 1, it means that the industry only exports and does not import; the index is closer to -1. Weak, equal to -1 means that the industry only imports and does not export;...
The Trade Competitiveness Index (TC Index) can reflect the competitiveness of a country's products in the international market. The closer the index is to 1, the stronger the competitiveness. When it is equal to 1, it means that the industry only exports and does not import; the index is closer to -1 competitiveness. The weaker, equal to -1 means that the industry only imports and does not export; equal to 0 means that the industry's competitiveness is at an intermediate level. This paper will analyze the impact of the financial crisis on the competitiveness of machine tools in major countries through the TC index.
From the perspective of large categories, the machine tools are metal processing machine tools and machine tool accessories, high-grade CNC devices, test equipment, molds, tools, tools and four types of parts and components.
In the field of metalworking machine tools, Japan has the strongest trade competitiveness. The TC index is basically above 0.8. It declined in 2009 and then continued to climb. It is currently around 0.9. The financial crisis has little effect on the competitiveness of German metal processing machine tools. In 2009, the TC index reached 0.53, which is currently above 0.5, which is 0.1 points higher than before the crisis. The trade competitiveness of metalworking machine tools in the United States increased after the crisis. In 2010, the TC index was -0.07, but after 2011, with the sharp increase in imports, the TC index fell again. The trade competitiveness of China's metal processing machine tools has been adversely affected by the financial crisis. It has continued to decline since 2009 and is now close to -0.7.
In terms of machine tool accessories, Germany and Japan had comparable levels of trade competitiveness in 2007, but Germany experienced little change after the crisis, while Japan continued to grow. In 2011, the TC index fell slightly due to the economic downturn, and then rebounded again. The trade competitiveness of US machine tool accessories also increased after the crisis, but after 2010, due to large import demand, the TC index plummeted and has now fallen below zero. In 2008, China's machine tool accessories TC index almost reached the zero boundary, but after the impact of the financial crisis, it fell sharply thereafter, reaching a low of -0.36 in 2011, slightly rebounded in 2012, but still around -0.3.
In terms of molds, tools and tools, Germany's trade competitiveness has not changed much. The TC index is basically around 0.35, and the highest value of 0.73 after the Japanese crisis; the US trade competitiveness has fallen sharply after the crisis; China's TC index has been from 2007. From -0.26 in the year to 0.02 in 2012, trade competitiveness has increased significantly.
In the test equipment, the trade competitiveness of Germany and Japan has been comparable; the United States has increased its TC index after the crisis, and it has declined in 2010. It is basically stable at present; the trade competitiveness of China's test equipment is gradually increasing. In 2007, the near-0.7 rose to around -0.5 in 2012.
In terms of high-end CNC equipment, German products have strong trade competitiveness, TC index is close to 0.7, Japan is around 0.4 and keeps going down; US trade competitiveness has not changed much; and China's high-end CNC equipment has experienced a sharp increase in trade competitiveness after the crisis. The TC index rose from -0.3 in 2007 to 0.04 in 2012, and exports increased in 2012 with reduced imports.
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