Shifting Dynamics in International Trade Networks: A Longitudinal Analysis of Major Exporting Economies (1992-2020): A case of the US, China, India, Japan and South Korea

This article aims to analyze the changes in trading networks by bringing out aspects of centrality and reciprocity among participating countries. The research considers the trade relations of five export countries, namely, The U.S., China, India, Japan, and South Korea from 1992 to 2020. We examine whether trade networks are truly becoming more bidirectional over the long term and how the political and economic crises that have occurred in the past 30 years affect the structure of trade networks. The article presents key findings on the changes in the network structure of international trade over the past 30 years. The network structure has become more reciprocal for most product categories, and the center of the trade network has shifted from the United States to China. The analysis also demonstrated that the center of the network has shifted from U to C for all product categories, except for raw materials. The study also highlights the significant impact of global events and crises on the international trade network structure, emphasizing the importance of considering geopolitical events and economic shocks in understanding trade dynamics.