Repudiating De-Globalization

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Repudiating De-Globalization

While the mainstream international community is discussing how to contribute their experiences to the promotion of economic globalization， some voices against this trend have also emerged. This has been made evident by the rash of trade protectionist measures cropping up in both developed and developing countries in recent years. Britain’s decision to quit the EU as well as stalled talks on regional free trade agreements have also often been cited as supporting evidence of de-globalization sentiment. In the United States in particular， an uncertain economic recovery and a complex political environment have fueled arguments in favor of isolationism.

Nowadays， economies around the world are becoming increasingly interdependent，often making de-globalization a fringe issue. In the current economic circumstances， going against the tide of globalization is not only a mistake， but is also tantamount to economic suicide.

Protectionism， to some extent， reflects certain countries’ eagerness to guard their own interests. It is a kind of global trade strategy at the expense of other countries， but in essence，protectionism is still a part of globalization.

On the other hand， it wouldn’t be accurate to say that Britain’s pending EU exit has something to do with de-globalization. The withdrawal from the EU will not sever Britain’s economic connection with the rest of the world—on the contrary， the country may have more freedom to decide which nations it wants to trade with in the future.

Since the late 1970s， China has begun to integrate into the world economy， partly in response to calls from Western countries. Since entering the World Trade Organization in 2001，China has brought about massive reforms to its economic structures in order to fall in line with international trade rules.

Today， China， as the world’s second largest economy， has already become inseparable from globalization and is actively driving for increased collaboration around the world. Its initiative to build the Silk Road Economic Belt and the 21st-Century Maritime Silk Road， as well as adjustments made in its economic structure， are contributing to efforts to revitalize the world economy and address surplus production capacity.

At this year’s G20 Summit， held in east China’s Hangzhou on September 4 and 5，countering protectionism and stepping up international economic governance in the midst of globalization were among the hot topics for discussion.

The setting of this agenda shows that the world’s major economies are all trying to safeguard and push forward economic globalization，which is regarded as the foundation for the integration and progress of human society. ■