![]() Actually China has come up with a set of new approaches to carry forward global governance for the benefits of emerging economies and developing countries.Īs one of the major emerging economies of the world, China understands the needs and concerns of other members of BRICS (Brazil, Russia, India, China, South Africa) and has an empathy for them, because China shares with them the tough experiences of being treated unfairly by developed countries and represented inadequately in the major institutions of global economic governance, such as the International Monetary Fund (IMF) and the World Bank.Ĭhina has a common aspiration to coordinate macroeconomic policy-making more frequently and obtain financial resources more effectively for the BRICS countries. Now a global giant in terms of its economic weight and international influence, China becomes a progressive power that has both a capacity and a desire to rectify the existing flaws of global governance and to shape its future. Its rise is one of the most outstanding achievements of this wave of globalization. ![]() As both a beneficiary and a sincere supporter of globalization, China has been developing in line with the growth of the world economy. However, while the existing global governance structure is being fragmented to some degree, China may become a new powerhouse to reinvigorate the world economy and rejuvenate global governance. The sudden 'abortion' of the TPP (Trans Pacific Partnership) before it was born, the impasse of TTIP (Transatlantic Trade and Investment Partnership) negotiation, the growing protectionism in the US and Europe, and the shaky European integration riddled with internal and external crises, all foretell a gloomy and inauspicious prospect of global governance on the horizon.Ĭhina: beneficiary of old globalization and champion of new globalization? The UK is determined to break away from the European Union and is currently entangled in the process of negotiating "Brexit" with the rest of the EU, sending out shockwaves felt across the world. The US is deliberately hollowing out the framework of the World Trade Organization (WTO) and attempting to build a new system which it may continue to dominate. Problems with globalization felt across the world ![]() The current wave of globalization, which started at the end of the Cold War, is losing its momentum and may actually start to go backwards, because the economic profits it generated are gradually going down and the problems of inequality that it created in the past few decades are reaching a point of eruption with large swaths of national populations across the world. ![]() The cornerstones of the institutional foundations of global governance are cracking at an accelerated speed, due to the heavy blows brought on by the dramatic changes taking place in the world economy and global politics. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |