Abstract: No matter how the global financial crisis develops, the overall trend of economic globalization will not turn back, and the intensification and change of international division of labor, along with industrial transfer, will keep on. Economic globalization and global financial crisis brings about many rare opportunities, such as broadening China’s gate, helping China to take over the transferred industries, accelerating industrial restructuring, promoting industrial upgrade, speeding up the transformation of the economic development mode and the foreign trade growth pattern. They have also inspired China to make full use of its own advantages and break the bottleneck of development. These new changes uplift China to stand on a new platform and gather these advantages to boost China’s economy in a stable and fast manner. Multinational corporations are playing a major role in stimulating technological innovation by actively transforming and intensifying the internal division of labor to promote the international industrial transfer. Unlike traditional World Factory, China, as a World Factory, has its own characteristics, whose status in the world economic setup has been established and consolidated. As China and other less developed countries are taking over the middle and low-end manufacturing business and service industry, their proportion of the world economy is turning high. More developed countries led by the US are withdrawing from the middle and low-end businesses and stepping into the high-end manufacturing business, service industry and knowledge industry, which make their proportion of the world economy decline. The structure of world economy increasingly features serious disjunction between production and consumption, and the structural imbalance of world economy in terms of real economy and virtual economy. This financial crisis re-balanced the world economic order and adjusted the world interests structure, especially between China and the US. China is taking active measures to adjust the ratios of domestic and foreign demand and the structure of investment and consumption. By integrating the speed of economic growth with the structure, quality and efficiency of economic development, China has dramatically increased its economic power with a high rate of growth, restructuring the economy and securing people’s livelihoods. Thus its position in the world interests order has been elevated. The world economic center is moving from the Atlantic to the Pacific. The world economic order is turning from One Superpower to One Superpower and Several Great Powers, or multi-polarization. The multi-polarized world economic order and the transformation and intensification of international division of labor has triggered an apparent trend of multi-polarization in world interests order. New energies and new ecological technologies oriented by low-carbon economy will reproduce a range of new divisions and new industries. The development and application of low-carbon technologies will change the world order of interests. More developed countries are still at the leading position in terms of the world income distribution by depending on their powerful economy and innovations. China is now taking measure to respond to the change of the order of world interests by strengthening independent innovation, controlling the initiative to determine technological standards and optimizing the patterns of economic development and foreign trade growth. China, sticking to the open-up strategy, should seize the opportunity of economic globalization and the new transformation and intensification of international division of labor to accelerate industrial restructuring, transforming and updating.
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Xia Xianliang: China and the Multi-polarization of World Economy
2012-12-10 17:00
Abstract: No matter how the global financial crisis develops, the overall trend of economic globalization will not turn back, and the intensification and change of international division of labor, along with industrial transfer, will keep on. Economic globalization and global financial crisis brings about many rare opportunities, such as broadening China’s gate, helping China to take over the transferred industries, accelerating industrial restructuring, promoting industrial upgrade, speeding up the transformation of the economic development mode and the foreign trade growth pattern. They have also inspired China to make full use of its own advantages and break the bottleneck of development. These new changes uplift China to stand on a new platform and gather these advantages to boost China’s economy in a stable and fast manner. Multinational corporations are playing a major role in stimulating technological innovation by actively transforming and intensifying the internal division of labor to promote the international industrial transfer. Unlike traditional World Factory, China, as a World Factory, has its own characteristics, whose status in the world economic setup has been established and consolidated. As China and other less developed countries are taking over the middle and low-end manufacturing business and service industry, their proportion of the world economy is turning high. More developed countries led by the US are withdrawing from the middle and low-end businesses and stepping into the high-end manufacturing business, service industry and knowledge industry, which make their proportion of the world economy decline. The structure of world economy increasingly features serious disjunction between production and consumption, and the structural imbalance of world economy in terms of real economy and virtual economy. This financial crisis re-balanced the world economic order and adjusted the world interests structure, especially between China and the US. China is taking active measures to adjust the ratios of domestic and foreign demand and the structure of investment and consumption. By integrating the speed of economic growth with the structure, quality and efficiency of economic development, China has dramatically increased its economic power with a high rate of growth, restructuring the economy and securing people’s livelihoods. Thus its position in the world interests order has been elevated. The world economic center is moving from the Atlantic to the Pacific. The world economic order is turning from One Superpower to One Superpower and Several Great Powers, or multi-polarization. The multi-polarized world economic order and the transformation and intensification of international division of labor has triggered an apparent trend of multi-polarization in world interests order. New energies and new ecological technologies oriented by low-carbon economy will reproduce a range of new divisions and new industries. The development and application of low-carbon technologies will change the world order of interests. More developed countries are still at the leading position in terms of the world income distribution by depending on their powerful economy and innovations. China is now taking measure to respond to the change of the order of world interests by strengthening independent innovation, controlling the initiative to determine technological standards and optimizing the patterns of economic development and foreign trade growth. China, sticking to the open-up strategy, should seize the opportunity of economic globalization and the new transformation and intensification of international division of labor to accelerate industrial restructuring, transforming and updating.