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By Zhang Qi, Research Department of Foreign Economy, DRC

Research Report, No. 27, 2020 (Total 5771) 2020-3-5

Abstract: In recent years, the trend of “anti-globalization” has emerged, trade and investment protectionism has been on the rise, and economic and trade frictions have continued to escalate. Despite international disputes over the direction and impact of economic globalization, recent trends in global trade, cross-border investment and the flow of people show that economic globalization has run into obstacles. In this context, public attitudes and decision-making stance in developed economies such as the U.S., Europe and Japan have become diverged, and the results of the US and UK elections also highlight the relevant changes. At the same time, various countries pay close attention to China’s reform and opening up, believing that China’s market-oriented reform and opening up play an equally important role in maintaining the authority of the multilateral trading system and rules as the US attitude towards WTO reform. In this regard, China needs to show solicitude for the new changes in globalization, actively promote international cooperation to mitigate the effects of “deglobalization”, speed up the construction of a high-quality market economic system, strengthen in-depth exchanges and communication with international think tanks, and adopt various channels and methods to enable the world to learn about the new measures of reform and opening up in China.

Key words: economic globalization, new trend, the U.S., Europe and Japan, reform and opening up