Faced with the impact of IPEF's regulation, containment and decoupling, will China's push to jointly build a "Digital Silk Road" serve as a counterbalance? The thesis, using dynamic GTAP and CGE models, firstly simulates the impact results achieved by IPEF, and finds that the negative impact on China's overall development is significant, but it may also hurt itself to induce negative-sum game with China. Then, the thesis simulates the effect of China's co-construction policies in terms of special capital investment, professional personnel training, logistics efficiency improvement and technical barrier reduction, and finds that the implementation of co-construction policies, whether single, superimposed or heterogeneous, can play a hedging role with different strengths and effects on the whole. These co-construction measures help China's economic capital,living welfare, foreign trade an industrial production capacity "turn for the better", and the superposition of co-construction policies and heterogeneous implementation will further enhance the hedging effect. Meanwhile, the externalities induced by the "Digital Silk Road" co-construction policy will also produce some shackles on the development of IPEF, but the co-construction will benefit the countries along the line as a whole, and will achieve win-win development with China. China should use the "Digital Silk Road" to achieve better hedging, not only for the IPEF's "rules-led", "decoupling and chain breaking" targeted policies, but also pay attention to the key breakthrough of the co-construction policy, multiple measures and heterogeneous differentiated implementation.
