Since the 1980s, China has seized the opportunity of economic globalization. Through vigorously developing foreign trade, attracting foreign direct investment and undertaking service outsourcing, China joined the global value chain, made full use of our own comparative advantages, built a "world factory", promoted economic development and increased the income level. However, it is undeniable that although China's export-oriented development model has achieved great success, this development model has encountered an insurmountable bottleneck since the economy has entered the new normal situation. On the one hand, domestic resource consumption and environmental pollution become increasingly serious, labor costs are rising, and the resources dividends and population dividends are almost exhausted; on the other hand, the international market is weak, and trade disputes occur frequently. So, where should China's industrial development go under the new normal situation? Can we continue to use the dividends of economic globalization to promote industrial upgrading? Economic Globalization and China's Industrial Development, written by Professor Liu Zhibiao, gives a systematic explanation on the above problems.With the theme of industrial upgrading, the most urgent problem in China's current economic development, Professor Liu Zhibiao explained the connotation of the second wave of economic globalization and the opportunities it brought to China's industrial transformation and upgrading. He proposed that we should take the innovation-driven strategy as the lead, set goals of moving up the international value chain, take the path of producer services outsourcing and regional economic integration, and take the reconstruction of the national value chain as means. After reading this book, we can clarify the problem of China’s industrial upgrading in the globalization development from various aspects.
