Thirdly, in mechanism arrangements, the trend of decentralization is getting more obvious. Some regional integration processes have encountered setbacks, with the most famous example being Britain's recent exit from the European Union.
And fourthly, in concept, suspicions about and reflection upon globalization, led by developed countries, have intensified. The IMF, the U.N. Industrial Development Organization and the Organization for Economic Cooperation and Development have all warned that the "low growth trap" had weakened the world's confidence in developed countries.
Analysts point out that the "old globalization" has caused increasingly serious inequality among nations, including developed economies themselves, which is a reason why globalization has been rejected by many at the grassroots level.
However, in the prevailing pessimistic atmosphere surrounding globalization, sensible observers have discovered that a new round of globalization is surfacing, featuring the rise of developing countries led by china.
Globalization researchers believe that this new round of globalization, compared to the former one, has three characteristics.
Firstly, there is a shift of economic powers. After the outbreak of the 2008 global financial crisis, newly-emerged economies and developing countries, with China as the bellwether, have for the first time in history become major contributors to world economic growth.
【国际英语资讯:Global Biz Insight: Retreat of globalization a pseudo concept】相关文章:
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2020-09-15
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