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The influence of economic globalization on developing countries and its countermeasures

Since 1990s, great changes have taken place in the international economic situation, showing many development trends, including economic globalization, information technology-oriented new technological revolution, global economic marketization and regional economic integration. Among them, economic globalization is an irreversible development trend of the contemporary world economy, which is related to the decision-making of governments all over the world and the vital interests of ordinary citizens, and its influence has been paid more and more attention by the international community.

For developing countries, economic globalization is tantamount to a "double-edged sword". While bringing new opportunities for developing countries to catch up with developed countries and promote their economic development, it also inevitably poses new challenges to the sovereignty and economic security of developing countries, causing many negative effects and even a serious impact on their economies. In the process of participating in economic globalization, developing countries must be cautious and not blindly follow. From a strategic perspective, all countries should fully consider their own economic situation, comprehensively balance all aspects of relations, see the bright future of economic globalization on the basis of objective and calm analysis, fully consider possible problems and prepare countermeasures, actively integrate into the globalization process, bravely meet challenges, make strategic choices in line with national conditions, and strive to achieve their own economic take-off.

First, the concept and characteristics of economic globalization

The word "economic globalization" was first put forward by T. Levy in 1985, and there is no consistent definition of it at home and abroad. In the World Economic Outlook published by 1997, the International Monetary Fund once defined economic globalization as follows: "Globalization refers to the increase in the scale and form of transnational goods and services transactions and international capital flows, and the extensive and rapid spread of technology has enhanced the interdependence of the economies of all countries in the world." Joseph nye, the authoritative American globalization theory and dean of Kennedy School of Politics of Harvard University, believes that the first meaning of globalization is the economic field, which refers to the long-distance flow of goods, services, funds and information. Some scholars believe that the essence of economic globalization is the historical process of market economy development worldwide, and it is the all-round promotion and unprecedented development of market economy.

In this regard, this paper examines the development process of economic globalization, and holds that the fundamental premise of economic globalization is the global unification of the big market. In the case of global market separation, economic exchanges between countries and liberalized trade between regions are not equal to economic globalization or only have the characteristics of economic globalization in some aspects. Worldwide, economic globalization came into being in 1950s and reached its climax in 1990s. This has its historical inevitability. After the end of the cold war, the "Oriental Group" which once occupied the world market 1/3 has changed. Developing countries that follow the example of the Soviet Union and take the road of planned economy have been stagnant for a long time and become more poor and backward. At this time, they changed their ways and turned to the market economy system. As a result, a complete global market was born, and economic globalization began to enter the stage of all-round development.

This paper points out that economic globalization refers to the process of capital, information, technology, labor and resources flowing, allocating and reorganizing around the world, and it is the trend that production, investment, finance and trade make the economies of all countries and regions in the world merge, depend on each other, compete and restrict each other. It is the embodiment of the world economic law, which makes the internal division of labor in enterprise production continuously expand horizontally and vertically into a global division of labor, and makes the optimal combination of production factors and the optimal allocation of resources on a global scale, thus promoting the common development of countries and the global economy, and at the same time bringing about social and economic problems faced by countries and the world. The globalization of economic activities and business has become one of the basic trends and characteristics of our times. The specific features of economic globalization are as follows:

First, the globalization of the market economy system

The foundation of economic globalization is the globalization of market economic system. Without the globalization of market economy system, there will be no international free flow of production factors, and there will be no real economic globalization. Western developed countries have implemented market economy for hundreds of years, and most developing countries that have achieved national independence after World War II have also chosen market economy system. But most scholars believe that the real economic globalization only started at the end of last century. As former United Nations Secretary-General Boutros Boutros-Ghali said in his speech on 1992 United Nations Day, "the first true era of globalization has arrived." This is mainly because the drastic changes in the Soviet Union and Eastern Europe in the late 1980s and early 1990s declared the end of the era of "two parallel markets". The principle of market economy has been generally recognized and established in the world, and many developing countries, including China, have begun to transition from planned economy or mixed economy to market economy, which makes the population living in market economy in the world suddenly increase from 25% to over 90%, and the world market is unified. At present, the market economy system has become the same system of countries with different systems and different levels, which has truly formed a worldwide and all-inclusive unified world market and laid the institutional foundation for economic globalization.

Second, trade globalization.

As a manifestation of economic globalization, global trade bears the brunt. Since World War II, the total volume and scale of international trade have been expanding. According to statistics, in 1950, the world merchandise trade volume was only $6 1 100 million; in 1970 and 1990, it was $31200 million and $3 187 million respectively. Especially since 1990s, this growth trend has become more obvious. From 65438 to 0998, the global trade in goods reached $54148 billion, and the trade in services reached $1326.3 billion, setting a new record for the total international trade of $6741/billion. During the four years from 1997 to 2000, the average annual growth rate of international trade was 6%, while the average annual growth rate of world GDP was only 3.3%. The further growth of international trade will strongly promote the development of economic globalization. As ruggiero, Director-General of the World Trade Organization, said in his speech in Stockholm on May 196, "Economic globalization is a high-speed train driven by trade development".

With the rapid increase of trade volume, the trade structure is also undergoing profound changes. In the past, western developed countries mainly exported manufactured goods and imported raw materials, while economically backward countries mainly exported primary products and imported manufactured goods. During the period from1963 to1985, the proportion of industrial products exported by developed countries in the world decreased from 83.2% to 78.8%, while that of developing countries increased from 4.3% to 12.4%. In addition, the types and scope of international trade are also expanding. It includes not only commodity trade, but also technology trade, service trade and labor trade, especially in the field of service trade.

Third, the globalization of production

Production globalization is the main feature of economic globalization and the main driving force to promote it. Since the 1990s, the globalization of production has mainly manifested in the following three aspects: First, the international division of labor has further developed in breadth and depth. Broadly speaking, countries and regions participating in international division of labor are all over the world; In depth, the international division of labor is becoming more and more detailed, which has developed from a single vertical division of labor in the past to a new pattern of vertical, horizontal and mixed forms of division of labor. In addition, the forms of international division of labor are diversified, including not only the division of production resources, but also the division of production processes and the specialization of parts production. Secondly, international direct investment has developed rapidly. International direct investment (FDI) is a deep way to connect the economies of various countries in the production field and production process by setting up factories through investment. From 65438 to 0960, the amount of international direct investment was only $68 billion. By 1996, the amount of international direct investment had increased to $3,233 billion. Since 1990s, the growth rate of international direct investment has been the highest among all international economic indicators. For example, in the first seven years of the 1990s, the average growth rate of international direct investment was 1 1.8%, while the average growth rates of world trade and world GDP were 7.7% and 3.7% respectively, which was far less than the growth rate of international direct investment. The scale of international capital flow has expanded rapidly, which has become another important link connecting the economies of all countries in the world besides trade.

Fourth, the globalization of enterprises.

Multinational companies that believe in globalization strategy are not only the products of internationalization of production and capital, but also will further promote the internationalization and globalization of production and capital. The number of multinational corporations increased from 37,000 in the early 1990s to 53,000 in197, and the number of overseas branches established by multinational corporations increased from 240,000 to 450,000, with more than 70 million employees worldwide and sales exceeding 9.5 trillion US dollars. These transnational corporations play an important role in global economic activities and have always been the leading force of international direct investment. Their total output accounts for 1/3 of the world's total output, and their internal trade accounts for 1/3 of world trade. 80% of international technology transfer and 70% of foreign direct investment are owned by multinational companies. Multinational corporations have greatly promoted the global circulation of various factors of production, especially commodities and capital, and further promoted the horizontal and vertical division of production among countries.

With the development of globalization, the production of multinational corporations is organized on a global scale, and the competition is also launched on a global scale. Since the 1990s, the wave of cross-border M&A has become a prominent landscape of the world economy. It has two outstanding characteristics: one is its large scale, and the other is the large number of M&A, involving a huge amount of money. This wave of mergers and acquisitions has objectively promoted the process of economic globalization.

Fifth, financial globalization and economic informatization.

The development of economic globalization has further liberalized finance. Since the 1990s, with the rapid development of modern electronic technology and communication means, especially with the relaxation of capital flow control in various countries and the popularization of "electronic money" (credit card), the scale of international exchange and flow of money has been expanding day by day, which has enabled the rapid and accurate transmission of economic information resources around the world and greatly promoted the development of financial markets. According to statistics, at present, the total size of various capital markets in the world is 35 trillion US dollars, transnational capital flows are 7.6 trillion US dollars, and the daily trading volume of the global foreign exchange market is10.5 trillion US dollars, which is much higher than the total foreign exchange reserves of global banks in the same period. The popularity of credit cards in the 1980s further promoted the globalization of finance.

Since 1990s, with the accelerated development of modern science and technology, informatization has become a prominent feature of economic globalization, and information industry has replaced traditional industries as a pillar industry in some developed countries. The impact of informatization on economy can be inspired by the report "Emerging Digital Economy" released by the US government in April, 1997. According to the report, by the end of 65,438+0,997, the number of online shoppers in the United States and Canada had increased from 4.7 million six months ago to 65,438+0,000 million. By 2002, the scale of e-commerce will reach 300 billion dollars, and the output value of the world information industry will exceed 1 trillion dollars. The rapid development of information industry has also changed the production organization and operation mode of traditional manufacturing, commerce and finance. All these make the speed and scale of global economic activities faster and faster.

Sixth, regional economic integration has been strengthened and international economic organizations have become increasingly sound.

Since the mid-1980s, the process of regional economic integration in the world has obviously accelerated. In Europe, by the time of 65438+65438+1 in 0993, the European Union had realized a unified big market in which goods, labor, capital and people freely flowed in the region, and issued the European unified currency-Euro in 10, from 65430/in 0999. And decided to reduce the tariff rate of all commodity trade to below 5% before 2003, thus establishing the ASEAN Free Trade Area, the North American Free Trade Area and the Asia-Pacific Economic Cooperation, all of which are the products of regional economic integration. This regional economic integration has further promoted the development of economic globalization: from the industrial point of view, the adjustment of industrial structure in the member countries of the integration organization has accelerated the cross-regional industrial transfer; From the perspective of trade, intra-regional trade liberalization inhibits trade protectionism to a certain extent and is conducive to weakening unfair trade; From the financial point of view, intra-regional trade liberalization can further promote the liberalization of financial markets, thus contributing to the integration of global financial markets.

With the vigorous development of regional economic integration, the International Monetary Fund, the World Bank and the World Trade Organization, as international organizations that coordinate and supervise the operation of the world economy, are becoming more and more authoritative and effective. It is playing an increasingly important role in world economic activities and is becoming an indispensable part of economic globalization.

The above six characteristics of economic globalization are a comprehensive summary of the economic life of our time. They have different influences on the actual economic operation, play an independent role, restrict and complement each other, and promote the rapid development of economic globalization.

As an objective process, economic globalization, as John Dunning asserted, "unless there are natural and man-made disasters, the globalization of economic activities is irreversible." Ruggiero, the first director-general of WTO, once said, "To stop globalization is to stop the earth from turning". In other words, economic globalization is the inevitable result of the development of the world economy, so it is inevitable, irreversible and unstoppable, and it is independent of the will of any country or individual. Facing the trend of economic globalization, any country, especially developing countries, can only accept it and adapt to it. Under this premise, they should fully consider their own actual situation and possible problems, be good at seizing opportunities and bravely meet challenges, so as to ensure that they are invincible in the turbulent trend of economic globalization!

Second, the impact of economic globalization on developing countries.

The impact of economic globalization on the world economy is far-reaching and complicated. While improving the global allocation efficiency of production factors, promoting the overall growth of the world economy and promoting the further development of international trade and investment, we should also see that economic globalization has inevitably produced a series of negative effects on a global scale and brought many problems that need to be solved urgently.

For developing countries, economic globalization is a "double-edged sword" with dual nature: both positive and negative effects. On the one hand, economic globalization provides opportunities for developing countries to participate in the world economy, absorb the capital technology and advanced management experience of developed countries, give play to the advantages of backwardness and finally catch up with developed countries, bringing unprecedented benefits; On the other hand, economic globalization may also bring risks and even disasters to developing countries and challenge their sovereignty, economic security and values. A little carelessness may pay a heavy price for economic globalization. This paper will expound the opportunities and challenges brought by economic globalization to developing countries.

Opportunities brought by economic globalization to developing countries

Since World War II, developing countries have implemented the market economy system one after another, gradually integrated into the process of economic globalization, and earth-shaking changes have taken place, and all economic indicators have been significantly improved. The per capita GDP, scientific research expenditure and foreign investment in developing countries have all increased substantially. Since 1980s, the economies of developing countries and regions in East Asia have grown rapidly, and the economic gap with developed countries has narrowed. For example, the per capita GDP of South Korea has greatly increased from 1980 to 1750, and the gap with developed countries has narrowed from 5.97: 1 to 2.50: 1 (these two periods, The proportion of scientific research expenditure in these countries has also gradually increased. At present, South Korea is close to 3% of GDP, and Singapore is also 1. 1% (the average level of developed countries in the same period is 2.5%). In addition, the foreign direct investment absorbed by developing countries is also increasing, reaching as high as138 billion US dollars in 1997, accounting for 30% of the global total. According to the World Bank's research report "World Economic Outlook and Developing Countries", during the period of1983 ~199410, all developing countries in East Asia who actively participated in economic globalization achieved an average annual economic growth rate of 2%, and other developing countries that quickly participated in economic globalization outside East Asia also achieved an average annual growth rate of1.5.

Developing countries take advantage of the improvement of economic openness to realize the liberalization of trade and investment, acquire advanced technology, management experience, capital, market, resources and other favorable conditions that were difficult to obtain in the past, and realize their dream of catching up with the economy. In particular, the great development of international division of labor, industrial transfer, capital flow and technology spillover brought by economic globalization is very beneficial for developing countries to make up for the gap of domestic capital, technology and other production factors and realize industrial upgrading, technological progress, institutional innovation and the take-off of the whole economy. Therefore, economic globalization has provided developing countries with unprecedented development opportunities, and most developing countries have thus become beneficiaries of economic globalization to varying degrees. This is mainly reflected in the following aspects:

First of all, economic globalization provides more conditions and opportunities for developing countries to attract foreign investment. According to the figures released by the United Nations,196 attracted foreign investment of US$ 285 billion, an increase of 17.5% over the previous year. In addition, international private capital invested in developing countries has increased sixfold in six years, from 1990 to 1996. In the composition of international capital flowing into developing countries, international private capital has accounted for 85%. Expanding the attraction of foreign investment will undoubtedly help solve the problem of capital shortage in developing countries.

Second, economic globalization has created a favorable external environment and conditions for developing countries' foreign capital investment, which has enabled their foreign direct investment to expand and grow rapidly. From 1983 to 1987, the annual foreign direct investment of developing countries was $4.2 billion, and increased to $38.6 billion from 1994, reaching 5 1996. The proportion of developing countries' foreign direct investment in the world's foreign direct investment also rose from 5% in 1985 to 14.7% in 1996.

Third, economic globalization has promoted the development of economic and technological development zones, bonded zones, free trade zones and other forms of free economic zones around the world. There are more than 230 economic zones, covering more than 70 countries around the world, mainly distributed in developing countries, which have not only become "carriers" for attracting foreign investment, but also played a positive role in solving the employment problems in these countries. According to some data, due to the development of the above-mentioned economic zones, the average annual growth rate of employment in developing countries has increased by more than 14% in the past 10 years.

Fourth, economic globalization has further deepened and accelerated the adjustment of industrial structure worldwide. Developing countries can take advantage of this opportunity, follow the organic unity of being based on reality and focusing on the future, and actively coordinate the relationship between industrial restructuring and domestic industrial upgrading worldwide. We should continue to introduce advanced labor-intensive industries from developed countries, give play to their comparative advantages, increase domestic employment, expand exports, and complete the industrialization process; At the same time, take advantage of the opportunities provided by economic globalization, increase the introduction and learning of advanced technologies from developed countries, develop a number of high-tech industries, especially occupy an advantageous position in some key links, seize the strategic commanding heights of future competition, and accelerate the domestic modernization process.

Fifth, economic globalization has promoted the development of transnational corporations in developing countries and gradually enhanced their competitiveness in the world market. Some multinational companies have developed very rapidly, from trade activities to international production and high-tech fields, and began to participate in international market competition, posing challenges to multinational companies in developed countries. Of course, on the whole, multinational companies in developing countries have low development level, small investment scale and small production scale, and their products are mostly labor-intensive products with low scientific and technological content. However, judging from the development trend, as economic globalization provides developing countries with opportunities to actively participate in international competition in a wider range of fields, the era when developing country multinational companies are more active in the world economic stage is just around the corner.

Sixth, economic globalization has stimulated the rapid development of international trade. From 65438 to 0995, the global trade volume exceeded US$ 6 trillion, and has been increasing by 7% ~ 8% every year since then. In the past 10 years, the growth of world trade has greatly exceeded the growth rate of world GDP. For example, during the four years from 1997 to 2000, the average annual growth rate of international trade was 6%, while the average annual growth rate of world GDP was only 3.3%. Although developed countries are the biggest beneficiaries of international trade, developing countries, especially those in Asia, also benefit from international trade, accounting for about 20% of the total world trade.

Therefore, by participating in economic globalization, developing countries can fully and reasonably allocate domestic resources and provide global market, capital, technology, talents and advanced management experience for their own development, which are urgently needed by developing countries to develop their economies. By participating in economic globalization, developing countries can also improve the competitiveness of their own enterprises as soon as possible in the increasingly fierce international competition, accelerate economic reform and opening up, and promote the early realization of economic modernization. In addition, economic globalization can also promote political reform and accelerate the process of democratization in developing countries.

The challenge of economic globalization to developing countries

However, there is no "free lunch" in the world. As a "double-edged sword", economic globalization has not only promoted the economic development of developing countries, but also brought many negative effects. Except for a few developing countries and regions (such as some countries and regions in East Asia), most developing countries are passive participants in economic globalization, and they participate unconsciously. They are in a "marginalized" position in economic globalization and face more challenges and risks. People still remember that under the pressure of economic globalization and liberalization, Thailand opened its financial market prematurely and excessively, removing all barriers to self-protection, which led to a serious financial crisis, which quickly developed into an Asian financial crisis, as well as a Russian financial crisis and a Brazilian financial crisis. As the former Deputy Prime Minister of Malaysia exclaimed: "Soros destroyed the economies of Southeast Asian countries that have been committed to developing their own economies for 40 years."

The leaders of some developing countries are still worried about economic globalization. For example, Malaysian Prime Minister Mahathir believes that developing countries will lose their independence in the process of economic globalization. Globalization will make developing China countries poorer and developed countries richer, and the wealth gap between them will widen. South Korean President Kim Dae-jung once pointed out in his speech on May 15, 2000 that the negative effects of globalization are beginning to appear, and we must be vigilant and take measures in advance, otherwise "we may face great dangers and disasters". The United Nations Development Programme also believes in a report that economic globalization is only beneficial to a few people, making most people poorer and causing extreme inequality. In addition, the benefits gained by a few countries from economic globalization are at the expense of most countries. In April 2000, UN Secretary-General Kofi Annan made a speech at the meeting.

At the annual meeting of the United Nations Economic and Social Council, it was pointed out that although globalization and new technologies are bringing hitherto unimaginable benefits to some people, others-it is estimated that there are more people-still do not enjoy these benefits, live in extreme poverty, and often suffer from malnutrition and diseases.

The above data show that the challenges brought by economic globalization to developing countries are more severe. While sharing some benefits brought by economic globalization with developed countries, developing countries are also suffering from the negative impact of economic globalization, and even have a serious impact on their own economies. The challenges of economic globalization to developing countries mainly include:

First of all, developing countries are at a disadvantage in the current process of economic globalization. With the rapid development of global trade and global production system, as well as the continuous expansion of multinational corporations and their capital, the national economy of developing countries is facing increasing pressure and impact, and their dependence on developed countries is also increasing. On the one hand, developed countries are not only leaders and promoters of economic globalization, but also hold the initiative. Most of the existing international economic rules are formulated by developed countries, while some rules are formulated in the absence of developing countries, such as certain industrial rules, information technology product agreements and labor standards, which determines that developing countries are always at a disadvantage compared with developed countries in the process of economic globalization. On the other hand, due to the unstable economic foundation, incomplete market development, relatively fragile economic structure, lack of funds, backward technology and serious brain drain, developing countries are vulnerable to the impact of economic globalization and produce domestic economic fluctuations. Developed countries control the international economic system and have capital and technological advantages in their hands, leaving most developing countries far behind economic globalization.

Second, financial globalization under economic globalization has not only promoted the economic growth of developing countries, but also brought financial risks and economic shocks that cannot be ignored. At present, a global financial market with 24-hour electronic transactions has been formed, which not only provides greater convenience for market transactions, but also provides opportunities for many speculators in the financial field. In the international market, 80% of the daily 1 trillion dollars or more is used for short-term arbitrage, which is very risky. Especially the development of financial derivatives, and relying on the Internet as a carrier, funds can flow to any profitable place on the earth at any time. At the same time, the task of preventing financial risks and stabilizing financial order has been generally ignored by developing countries. In the case of imperfect financial system and weak financial supervision ability, they blindly opened the domestic financial market and relaxed financial regulation, which weakened the government's macro-financial regulation ability. In this case, the negative impact of financial globalization on developing countries is outstanding, which has caused a great impact on their financial markets. Both the Mexican financial crisis from the end of 1994 to the beginning of 1995 and the East Asian financial crisis in the second half of 1997 occurred under the circumstances that developing countries actively participated in the globalization process and opened their financial markets.

Third, when solving global problems, developing countries are also facing an embarrassing situation. On the one hand, they want to develop the economy and improve people's living standards, on the other hand, they are accused by developed countries of destroying the environment. In fact, developed countries have surpassed the stage of industrial development and should be responsible for the results of environmental pollution. At the same time, economic globalization makes developed countries transfer more and more labor-intensive and resource-intensive industries and industries that seriously damage the ecological environment to developing countries. Although in a sense, labor and resource-intensive industries in developing countries can be greatly developed and the process of industrialization can be accelerated, their good natural environment is polluted, the balanced ecosystem is destroyed, the waste of resources is quite serious, and the social burden cost is increasing day by day. More importantly, it will not help developing countries to develop high-tech industries and accelerate scientific and technological progress, thus affecting their development and ultimately affecting the sustainable development of the whole world.

Fourth, economic globalization has led to and exacerbated the further imbalance of world economic development. The outstanding performance is that the gap between the North and the South is widening, and developing countries are more backward than developed countries, especially those at the bottom are more poor and backward. The per capita GDP gap between developed and developing countries has expanded from 43 times in 1983 to more than 60 times in 2000. More than 654.38 billion people in the world earn less than $ 654.38+0 a day, and 2.8 billion people earn less than $2 a day. The two richest adults in the world enjoy more than 85% of the world's products and services. The per capita income gap between poor and rich countries is quite wide, ranging from 1: 3 in 1960 to 1: 74 in 1997. According to United Nations statistics, the number of least developed countries in the world has been increasing, with only 36 in 1990, 42 in 1995 and 48 in 2000. Many least developed countries do not even really feel any benefits of economic globalization, or only benefit little from it. In the early 1990s, the share of the least developed countries, which accounted for 65,438+00% of the world population, in global trade was only 0.6%. To 1997, accounting for only 0.3%, negligible or even negligible. In view of the above situation, the United Nations Development Programme (UNDP) in its Human Development Report 1999 called on people to re-understand economic globalization and try to narrow the widening gap between the rich and the poor.

Fifth, the biggest problem or threat brought by economic globalization to developing countries is that national sovereignty is impacted and weakened, and national economic security is challenged. First of all, the development of economic globalization requires countries to transfer and enjoy economic sovereignty to a certain extent. But in fact, this alienation and enjoyment is asymmetric. Due to the differences in economic strength, developing countries need more capital, technology and even management experience from developed countries, which provides conditions for developed countries to impose some unreasonable demands on developing countries. Secondly, due to the strengthening of worldwide market power and the continuous expansion of large multinational corporations in developed countries under the condition of economic globalization, it may impact some domestic industries in developing countries, threaten the security of their domestic markets and weaken the power of developing countries in economic affairs. In the transnational capital flow, transnational corporations in developed countries use capital and technological advantages to control domestic enterprises in developing countries, even those important industries related to the national economy and people's livelihood, which seriously threatens the economic security of developing countries. Finally, the establishment of "supranational" specialized international economic organizations to meet the needs of economic globalization also limits the economic sovereignty of developing countries. For example, when China joins the World Trade Organization, it must not only make a commitment to obey the WTO planning, but also make some concessions to the excessive asking price chips of some developed countries. In other words, in order to join the WTO, we have to sacrifice certain economic interests, and even be forced to yield to the constraints of the WTO and major developed countries on China's economic entities on individual issues.

Third, the countermeasures of developing countries

After fully realizing the opportunities and challenges brought by economic globalization, the more important question for developing countries is: How should countries make their own strategic choices in the face of the irreversible historical trend of economic globalization? Developing countries have long been backward in national industrial machinery, equipment, technology and technology, and their production efficiency and management level are low. What should developing countries do in the face of the fierce challenge of multinational corporations joining hands to seize the global market? How should the financial system of developing countries deal with the "scourge" of international hot money in the constantly opening financial market? Facing the great adjustment of global economic structure and the continuous upgrading of technology, how should developing countries change their "small, scattered, low and homogeneous" economic structure? Facing the arrival of knowledge economy and the emergence of "new economy", how should developing countries catch up? Facing the "erosion" of economic globalization on national sovereignty and national economy