At the APEC CEO Summit, President Xi Jinping proposed that we must correctly guide the direction of economic globalization and cannot follow the old path of a few countries that monopolize hegemony. We must promote the economic globalization to release more positive effects and enter a new stage that is more dynamic, inclusive, and sustainable. This important discourse provides fundamental guidance for us to have a correct understanding of economic globalization and promote the development of global economic governance towards a more just and reasonable direction.
Economic globalization is a double-edged sword, which not only creates enormous opportunities and positive effects for the development of countries around the world, but also brings certain challenges and risks, releasing negative effects. Driven by a new round of technological revolution and industrial transformation, China needs to improve productivity through technological innovation, fully leverage the empowering role of emerging technologies such as artificial intelligence, inject strong impetus into the world economy through the new round of technological revolution, help developing countries strengthen their technological capacity building, and facilitate the global flow of knowledge and technology. In this process and trend, we must correctly guide the direction of economic globalization, actively participate in the formulation and implementation of global governance rules, and provide more global public goods for the new round of economic globalization, so as to release more positive effects for promoting the economic globalization.
