But that's just money matters. Western powers' dominance of global institutions has brought them even greater payoffs. Following the end of World War II, the United States, along with its allies, has been leading the World Bank and the International Monetary Fund, the pillars of the global financial system. Indeed, the post-war world order is seen by many as an age of "Pax Americana."
So what has led to the rise of anti-globalization sentiments in the West? The key reason is the increasingly unequal distribution of the economic pie despite the fact that it is growing larger.
According to last year's World Inequality Report by the World Inequality Lab at the Paris School of Economics, the top 1 percent captured 28 percent of the aggregate increase in real incomes in North America and Western Europe between 1980 and 2016, while the bottom 50 percent received just 9 percent of it.
In the face of this widening wealth gap, politicians in some Western countries have failed so far to look inward in search of solutions. Instead, they look outside for scapegoats, blaming foreign countries for job losses and cashing in on domestic populism.
Though the path to globalization has not been a smooth one, yet the reality is that the world has become increasingly more prosperous thanks to it. So the right way to approach globalization is not to abandon or even try to reverse it, but to embrace and improve it.
China supports globalization because it has contributed to the well-being of its people. More importantly, improved globalization will benefit people around the globe. To make globalization more inclusive so that its benefits can be shared more extensively, Beijing has proposed the Belt and Road Initiative, and is asking others to join it in building a community with a shared future for mankind.
【国内英语资讯:Commentary: From Davos to Boao, globalization needs boost at defining moment】相关文章:
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