Globalization Is At A Juncture Emerging Economies Become The Main Force

The 2017 annual meeting of the Boao Forum for Asia with the theme of "Facing the Future of Globalization and Free Trade" was officially opened in Boao, Hainan. Globalization is at a critical juncture. While strengthening confidence, all countries in the world need to work together to find a new way forward for globalization. In the context of the continued downturn in world economic growth, the rising trend of "anti globalization" and protectionism, "whether it is to engage in protectionism behind closed doors like some countries? Or actively adopt the method of joint consultation, construction and sharing to move towards a community of shared future?"

　　 Boao Forum for Asia The issue raised by Secretary General Zhou Wenzhong before the opening ceremony of the annual meeting became the focus of attention and discussion among more than 1800 delegates. After communicating with many guests, our reporter found that the fierce collision of views made a consensus clearer that globalization cannot be reversed. In recent days, Boao, a beautiful southern town, has once again demonstrated its "international style".

Guests from different countries gathered here to listen to the Japanese national treasure level Kushan landscape master Junming Peino and the Palace Museum President Shan Jixiang discussing how to achieve the ultimate in "manufacturing" on the stage, and witnessed the creative thinking sparks of entrepreneurial masters from the U.S. Silicon Valley and Israel... "What makes all this happen is globalization." A foreign media reporter sighed.

"Globalization is an objective trend, not a simple subjective desire. The fundamental driving force for globalization is the endogenous demand of the market, and it is the optimal allocation of factors in the global scope." Zhou Wenzhong's view was shared by many delegates at this year's annual meeting. Globalization is a fait accompli, and there is no way to reverse it, just like toothpaste squeezed out, it is impossible to take it back.

Axel Weber, chairman of the board of directors of UBS Group, also believes that globalization has never developed in a straight line. There are periods of rapid global integration, setbacks and slow development. Although the process of globalization has suffered setbacks in the past year, it will continue to move forward after necessary adjustments.

"Globalization will produce both winners and losers." Kent Keld, a professor at Johns Hopkins University, pointed out that China has lifted 700 million people out of poverty because of globalization, which is the benefit of globalization. At the same time, globalization does create inequality in some countries.

The correct way to face problems is to find solutions. Kent Keld believes that China, the United States and other countries should consider how to deal with inequality in the process of globalization. "In order to serve as a global stabilizer, the United States must remain relatively open economically."

"In the past, it was believed that emerging economies were the main force hindering the progress of globalization. Now, in turn, developed economies have begun to become the main force of anti globalization, and emerging economies have become the main force that wants to integrate into and promote globalization," said Yao Zhizhong, deputy director of the Institute of World Economy and Politics of the Chinese Academy of Social Sciences.

As the world Second largest economy China, the largest contributor to global economic growth, has high hopes in the new round of globalization. At the annual meeting, China once again contributed its wisdom and provided an effective and pragmatic "China Vision".

The "Belt and Road" is one of the four discussion panels set up at this year's annual meeting. Many participants agreed that the Belt and Road Initiative is a successful case of globalization. "Against the international backdrop of the rising tide of anti globalization, the construction of the 'Belt and Road' has become the most prominent in the field of regional economic cooperation," said the 2017 Annual Report on Asian Competitiveness released at the annual meeting.

Zhou Wenzhong said that, in a sense“ The Belt and Road Initiative ”It is an idea of globalization in China. If all countries can discuss, build and share together, and promote their own problems and development goals in the "Belt and Road" initiative, it can be expected to move towards a community with a shared future for mankind.

"The global economy is at an important turning point, and one of the important trends is the transformation of the Eurasian continent. Under the current Eurasian pattern, especially after the establishment of the Asian Investment Bank, China's influence is growing, including the 'Belt and Road' initiative connecting China, Eastern Europe and even Western Europe, which will have global significance in the long run." Kent Keld believes that, Through the "Belt and Road" initiative, emerging economies in Asia and Europe have formed a good interaction and set a good example for globalization.

Boao Forum for Asia Emerging economies The 2017 Annual Report on Development also pointed out that the continuous promotion of the "Belt and Road" initiative not only effectively promoted economic, trade and people to people and cultural cooperation among countries along the Belt and Road, but also provided new support for coping with the trend of "anti globalization" and shaping the dynamics of globalization.

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