BOAO, Hainan, March 23 (Xinhua) -- The ongoing Boao Forum for Asia (BFA) is tackling an issue of widespread concern.
Globalization must not be reversed, Zhou Wenzhong, BFA's secretary general, told Xinhua, adding that the forum will strengthen the case for more inclusive globalization.
The four-day conference, under the theme of "Globalization and Free Trade: The Asian Perspectives," runs until March 26 in Boao in China's southernmost province of Hainan.
"The forum will focus on how developed and developing economies should cope with globalization," he said.
NO MORE LOSERS
Globalization, an inevitable outcome of rising productivity and technological advances, has driven the world economy and poverty alleviation over past decades, Zhou said.
It has also accentuated the imbalance between growth and distribution, capital and labor, and efficiency and fairness, he added.
Protectionism is gaining ground. In 2016, Chinese exporters suffered a record number of 119 trade remedy investigations initiated by 27 countries or regions, 32 more than in 2015.
The root cause lies not in globalization itself but in an anachronistic global governance system, Zhou said, adding that anti-globalization will only aggravate global economic woes.
How a country accommodates people and industries which are on the losing end of globalization decides its integration with others, said Yao Zhizhong, deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences.
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