The current world economy is in a period of globalization


China Association of World Economics (2017) International Trade Forum and Symposium on "Globalization Changes: New Situations, New Challenges, and New Countermeasures in International Trade"

    China Social Sciences Online Haixun (Reporter Cha Jianguo, Li Yu, Shanghai University of International Business and Economics) September 23-24, China World Economics Association (2017) International Trade Forum and “Globalization Changes: New Situation and Challenges in International Trade” "The new countermeasures" academic seminar was held in Shanghai. The conference was hosted by the China World Economics Association and Shanghai University of International Business and Economics. The Knowledge Service Platform of the Shanghai Municipal Education Commission, the Institute for Strategic Studies of the International Trade Center, the International Trade Committee of the Shanghai World Economics Association, and the Shanghai Institute of International Trade jointly organized the conference.

Yin Yao, party secretary of the Shanghai University of International Business and Economics, and Vice Chairman of the China World Economics Association, Ruan Jiadong, respectively delivered an opening speech. Xu Yonglin, Vice President of the Shanghai University of International Business and Economics presided over the opening ceremony. Nearly 200 experts and scholars from more than 50 colleges and universities in the country participated in the conference.

The current world economy is in the period of economic globalization

Since the beginning of this year, the Chinese economy has remained relatively stable and has initially shown relatively strong growth momentum. The effects of macroeconomic policies and structural reforms on the supply side have become increasingly prominent, and their contribution to world economic growth has continued to increase. Since last year, General Secretary Xi Jinping has repeatedly stated China’s determination and confidence in actively advocating free trade, participating in promoting and leading globalization at the G20 Hangzhou Summit, the Davos Forum, the One Belt One Road Summit, and the BRICS Xiamen Summit. The strategy of developing large countries is determined.

Party Secretary of Shanghai University of International Business and Economics Yin Yao

Yin Yao said that the current world economy is still in an unstable recovery period, and economic globalization has encountered a "reverse globalization" block, and the evolution of the international economic and trade landscape is complex. At the same time, the effectiveness of China’s macroeconomic policies and structural reforms on the supply side has become increasingly prominent, and its contribution to world economic growth has remained above 20%, reflecting the responsibility and responsibilities of big countries.

Vice Chairman of China World Economics Association and Vice President of Nankai University

Jia Jiadong said that the current world economy is in an adjustment period of economic globalization. People hope that the new industrial revolution will bring new impetus to the hope that the global economic order will have new adjustments to adapt to new changes. The ability to cooperate with each other enables the economic globalization to be maintained and well managed. From China’s perspective, it is hoped that by promoting globalisation and advocating the “One Belt and One Road” initiative, it will take the initiative to realize globalization of trade and investment and, with an open attitude, lead the world toward new development. At the same time, the world is also facing uncertainties in the economic recovery and policy environment. Reverse globalization has become a worry and a fact. Under the background of great changes and developments in uncertainty, scholars are in need of in-depth study of new situations and new challenges and come up with new strategies. This is the responsibility and responsibility of the contemporary academic community.

The Construction of "One Belt and One Road" is a Practical Exploration of the Global Adjustment Period

The conference included a keynote speech, two expert forums, and four thematic conferences, covering anti-globalization, international economic and trade situations and the strategy of the great powers, the Sino-U.S. trade, the trend of the U.S. trade protection policy and its influence, and the “One Belt, One Road” initiative. The economic and trade cooperation among BRICS countries and emerging economies, the rising cost of factors and the medium and long-term trend of China’s foreign trade, and the supply-side structural reforms in the open economy and commerce sectors are a series of major issues.

China World Economics Consultant Wang Luolin

Secretary of the World Economic Association of China Shao Binhong

At the keynote speech, Wang Luolin, Advisor to the World Economics Association of China, Ruan Jiadong, Vice President of Nankai University, Lin Guijun, Vice President of the University of International Business and Economics, Zhang Youwen, Research Fellow of the Shanghai Academy of Social Sciences, and Zhuang Zongming, Professor of School of Economics, Xiamen University, Institute of Strategic Studies, International Trade Center, Shanghai University of International Business and Economics Executive Director Yao Weiqun spoke successively. Shao Binhong, Secretary-General of the China World Economics Association, and Tang Haiyan, President of the Shanghai Lixin Accounting and Finance Institute respectively presided over the meeting.

Wang Luolin reviewed the specific background and historical conditions of the formation of the BRICS cooperation platform, and put forward his own unique views on the favorable conditions and constraints of the BRICS cooperation platform, as well as the respective characteristics of the BRICS countries and the prospects for mutual cooperation and development. When deciphering the “Belt and Road” from the perspective of geopolitical economics, Ruan Jiadong pointed out that “One Belt and One Road” is different from regional integration. China’s “Belt and Road” initiative is an economic globalization theory that transcends traditional geopolitical economic theory and is beyond. The theory that big countries dominate, surpass national interests, and achieve world economic growth is a theoretical exploration and practical experiment of China in the period of globalization adjustment and transition.

 

Shanghai Institute of Social Science Researcher Zhang Youwen

Lin Guijun made speeches on the theme of China's choice in the changes of the world order. He reviewed the changes in the world order based on the West Bavaria Peace Treaty and discussed China's position in the current international order. Zhang Youwen interprets the principle of integration of trade and investment from both theoretical and empirical perspectives, and proposes that investment is changing trade, alternative trade, or even transcending trade, and this has led to new thinking on traditional classical trade theories. The integration, integration and innovation put forward their own opinions.

Zhuang Zongming, Professor, School of Economics, Xiamen University

Yao Weiqun, Executive Director, Strategic Research Institute, International Trade Center, Shanghai University of International Business and Economics

Based on his own field visits to Vietnam and India, Zhuang Zongming analyzed the opportunities and challenges faced by Chinese companies “going out” under the “One Belt and One Road” background, and based on this proposed countermeasures for Chinese enterprises “going out”. Yao Qiqun delivered a keynote speech on economic diplomacy under the framework of the global value chain, introduced general economic thought of General Secretary Xi Jinping, and put forward his own ideas on the general mode and basic path of China’s economic diplomacy, theoretical exploration of China’s economic diplomacy, and basic tasks. Insights. The

Page 2 (of 3 pages) Economic Daily News Reporter Chen Xi Xu Huixi reports: The World Economic Forum released its “2017-2018 Global Competitiveness Report” on the 27th, pointing out that during the 10 years of the international financial crisis, slower productivity growth continued to plague the global economy. We have not seen the reform measures that countries have been able to improve their competitiveness. The outlook for economic recovery is not optimistic.

This annual report is an important reference for measuring the degree to which the economies of the world promote productivity growth and economic prosperity. This year's report ranks the index of 137 economies worldwide. Switzerland has become the most competitive economy in the world for nine consecutive years, followed by the United States and Singapore. Ranked 4th to 10th on the list are the Netherlands, Germany, Hong Kong, Sweden, the United Kingdom, Japan, and Finland. China ranked one place higher than last year, ranking 27th in the world.

The report measures the competitiveness of each economy from the 12 indicators at the three levels of basic conditions, effectiveness and innovation maturity. The most prominent indicators of China's performance are: market size, macroeconomic environment, and innovation. The indicators of greater progress include technological readiness, commodity market efficiency, and higher education and training.

According to Aide Wei, the chief representative of the Greater China Region of the World Economic Forum, China’s enthusiasm and action in technology development and personnel training are obvious to all. At the same time, advances in the efficiency of commodity markets also reflect the government’s achievements in implementing functional reforms, stimulating market dynamism, and promoting entrepreneurship. According to the performance of the current competitiveness index, if we want to boost labor productivity, and further advance in the ranking of global competitiveness, China still needs to continuously improve its technical level, strengthen infrastructure construction and persist in promoting innovation and development.

The report puts three focus points on the basis of the 10-year data: First, the risk of damaging the financial system remains. The indicator of "degree of robustness" of international financial institutions has not yet fully recovered from the impact of the international financial crisis. The financial system of some economies has even worsened. Given that the financial system plays an important role in the venture capital promotion in the fourth industrial revolution, this state needs to be highly valued by all countries.

The second is the enhanced role of human capital in economic competitiveness. In the process of machine automation gradually replacing manpower, maintaining flexibility in the labor market and protecting the rights and interests of workers will be conducive to enhancing the toughness and stability of economic development.

Third, the impetus for the transformation of innovation results is lacking. At present, there are a large number of global innovation investments, but they have not brought about the expected substantial increase in productivity. The reason is that there is an imbalance between technology development and promotion.

Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, stated: "The ability of innovation has a growing impact on a country's global competitiveness. Talent plays a key role. We are entering a 'capitalist capitalism'. 'The times. Future global competitiveness winners not only need to have a healthy political, economic and social system, but also to make adequate preparations for the fourth industrial revolution.'

Page 3 of 3

        Reference News Network reported on September 28 Foreign media said the Geneva-based World Economic Forum said on the 27th that Switzerland has been awarded the world’s most competitive economy for the ninth consecutive year.

        According to a report by Reuters Geneva on September 27th, Switzerland’s rankings had a rare decline in 2008 when it was surpassed by the United States and fell to second place. Since then, the Swiss economy has consistently topped the list in the annual ranking of the World Economic Forum.

        Terry Geiger, an economist at the World Economic Forum, said that Switzerland has a virtuous circle of infrastructure, institutions and education, but the country’s success is at the heart of its way of creating and using talent.

        He said: "This is indeed the secret of Switzerland - this innovative ability - supported by a series of favorable factors."

        However, nearly ten years after winning the premiership, Switzerland is facing the risk of pride and populism. He said that because of the closure of foreign talents in a referendum on the establishment of Swiss law, the country’s aging population may undermine this miracle of innovation.

        The ranking of the World Economic Forum is based on many factors that drive competitiveness and surveys of business leaders. The annual Davos Economic Forum in January is organized by the organization.

        Klaus Schwab, founder and chairman of the World Economic Forum, said: "Global competitiveness will be determined by a country's ability to innovate to a greater extent."

        Including Switzerland, the top ten are still the same as the previous year, but the ranking has changed. The United States overtook Singapore and ranked second; Hong Kong rose three places and ranked sixth, surpassing Japan ranked ninth.

        The United Kingdom dropped one place and ranked eighth. According to the World Economic Forum, the United Kingdom has not suffered a sharp decline in rankings due to the Brexit negotiations with the European Union, but such a situation is expected to happen.

        China rose one place, ranking 27th, far higher than Russia ranked 38th and India 40th.

        At the bottom of the ranking is Yemen, the country that was further damaged by civil war, economic collapse, cholera, and near-famine conditions.

        According to a report on the Hong Kong South China Morning Post website on September 27, the report of the World Economic Forum stated that China has made progress on almost all factors. Moreover, the Chinese mainland has also become more technologically ready because of the "increased popularity of information and communications" and new technologies brought about by foreign direct investment.