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Series:

Edited by SHAO Binhong

Political Economy of Globalization and China's Options offers the political economy of globalization and China’s options in response to globalization’s retrogression, and the construction of world order. What are the strategies for upgrading the competitiveness of an emerging major power? Why does world need a new concept of openness? What are the four major challenges for the world economy? How do Chinese scholars think of in an “Anti-Globalization” environment? What are the five major objectives of global politics? Besides answering these basic questions, we will also consider other issues: the triangular relationship among China, the United States, and Russia; Rise of China and transformation of international order; understanding nuclear security and safety issues from the perspective of global governance.

Series:

Bei Jin

Abstract

One of the most prominent features of the new era of globalization is the rise of China. The rapid expansion of China’s industry to global dimensions, the substantial increase of its economic volume, and the dramatic increase in its building capacity mean that China is expanding its role as a major global economic power. However, anti-globalization arguments have emerged in some developed countries spurring anti-globalization policies in some areas. Within the context of new world trends in competition, China is facing two major issues similar to those faced in other countries: improving competitiveness through industrial transformation and upgrading, and putting in place effective governance of the market economy—with the goal of guiding the economy’s development in a desirable direction through adjustments of market mechanisms. Since the anti-globalization phenomenon is a reaction to the lack of inclusiveness in the globalization process, industrial development must move in a more inclusive direction as it transforms and upgrades itself, and the most important method of achieving inclusiveness is optimizing the market economy’s governance system.

Series:

Qunhui Huang

Abstract

China will basically achieve industrialization by 2020, and around 2030, when it becomes fully industrialized—an industrialized country—this will bring disruptive changes to the process of industrialization in the world. China’s industrialization will be one led by informatization, i.e., it will be a new form of industrialization that is thoroughly blended with informatization. China should pay more attention to productivity and the knowledge accumulation that is inherent in industrialization; it should continue to deepen the industrialization process and promote the transformation and upgrading of manufacturing as well as improving efficiency. Through policy communications, connection of facilities, trade flows, financial flows, and people-to-people communication with countries accepting the idea and initiative of the “One Belt One Road,” China will further promote cooperation on industrial capacity as well as broader, deeper regional economic cooperation on other levels.

Series:

Honghua Men

Abstract

International order results from the distribution of power, interests and ideas among major powers. It is relatively stable but often goes through transformation as well. The rise of a major power inevitably affects the structure of international order. Since China’s rise has occurred almost simultaneously with the transformation of international order, it inevitably offers its views on the reshaping of international order. The policy of opening up and reform has provided sustained momentum for China’s full-scale engagement in international society. With the rise of its national power, China now exerts increasing influence on the transformation of international order. China is now an active, constructive, predictable, and important shaper of international order. It seeks to engage in the reshaping of international order primarily by focusing on improving the fundamental norms underlying international institutions and taking an active part in the reshaping of international financial order, thereby gathering experiences in international order-building. It will also attach importance to the construction of regional orders and strengthening China’s capability in setting the agenda in the construction of international order.

Series:

Xiaomin Cui and Miaojie Yu

Abstract

In the past thirty years, China has adopted a series of trade and investment promotion measures primarily focused on lowering import tariffs, establishing inter-regional free-trade agreements, signing bilateral investment agreements, opening up pilot free-trade zones, streamlining administration, delegating power, providing land and tax incentives, and strengthening infrastructure. These measures have increased enterprise productivity, improved consumer welfare, and stimulated China’s economic growth. With regard to China’s position in interregional free trade areas, pilot free trade zones and infrastructural development, there remains much room for future growth.

Series:

Xiangyang Li

Abstract

The reversal of the United States’ position on economic globalization has created conditions for Chinese leadership of globalization, and at the same time it has greatly elevated the costs to China for that leadership. As a necessary course to a peaceful rise, China’s leadership of globalization does not require China to “fill the gap” left by the United States, nor does it require China to duplicate the United States’ pattern of acting as overlord. Since the many drawbacks existing in the original globalization were inevitably connected to the United States’ hegemonic pattern, Chinese-led globalization must be of a new type that does not duplicate the existing model. Considering the goals of the new globalization and the costs of leading it, China’s inevitable choice will be to lead globalization jointly with other major powers.

Series:

Zhibo Zou

Abstract

Starting from the inner mechanisms of the structural conflicts between the big powers, this article proposes to examine two dimensions of those structural conflicts—depth and intensity—and to divide the conflicts into four levels, based on the degree of difficulty of changing them, and to use this framework to analyze the structural conflicts in the relationships between the United States and Russia and between the United States and China. On this basis, and taking into consideration two of the main factors affecting the triangular relationship of China, the United States, and Russia—the world strategic pattern and the national strategies of the three countries—this article analyzes whether or not the Trump presidency will change the triangular relationship, and how globalization is affecting the triangular relationship.

Series:

Jisi Wang

Abstract

From ancient times, security, wealth, freedom, justice, and belief have been the eternal themes, fundamental values, and ultimate objectives of global politics. Power, state, democracy, rule of law, and so on, have been the processes, means, and methods of achieving these five major, ultimate objectives. Researching the five major objectives and their interrelationships can help us understand uniformity and diversity in regional and country politics, narrow the academic dividing line between comparative politics and international politics, define the standards for judging whether or not a state is successful, and deepen our understanding of the developing trends in contemporary global politics.

Series:

Zhizhong Yao

Abstract

Today’s world economy is facing four major challenges: (1) the highest levels of R&D spending in history are accompanying the lowest long-term growth rates in developed economies since World War II; (2) progressive income tax and income redistribution policy no longer hinder growth of inequality; (3) as the management of globalization has failed, it has become necessary to resort more to adjustments of domestic economic policy, but adjustments to foreign economic policy in the anti-globalization direction are instead thought to add even greater burdens on groups whose interests have been harmed; (4) the lack of an effective mechanism in economic systems to contain non-financial sector debt, and the possibility that an automatic adjustment to steadily rising global debt levels may ultimately occur only through the next round of crisis.

Series:

Danyang Xie and Kun Cheng

Abstract

Globalization has promoted the growth of the global economy and has greatly enhanced the liquidity of capital; the more efficient combination of capital and labor has increased labor productivity in developing countries. The rise of developing countries has also had a serious impact on the middle and lower classes of Western developed countries, exacerbating the problem of inequality within them. As long as globalization can make the world economy more prosperous, people may be able to solve the distribution problem by promoting inclusive growth, of which the key points are platform construction, open development, and preactive transformation.