China’s experience in dealing with globalization recommendable
Long Yongtu, former vice minister Ministry of Foreign Trade and Economic Cooperation./ Photo provided to chinadaily.com.cn Today’s economic globalization is driven more by the internet than technology and it’s materialized increasingly by small and medium enterprises than multinational companies and more about the extension of value chain than the relocation of industries, Long Yongtu, former deputy minister of commerce and former Secretary-General of Boao Forum for Asia, concluded at the 3rd China and Globalization Roundtable Forum in Beijing host by a leading think tank, the Center for China and Globalization. In other words, the experience China got could be recommended to other countries given the current anti-globalization trend worldwide. The Chinese government has made social equity a priority by carrying out targeted poverty alleviation, narrowing regional gap and improving income redistribution. Notwithstanding, it is too early to say that China should lead globalization considering the shortcomings both on science and technology and enterprise competitiveness.
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