Zhang Erzhen: Globalization is More Conducive to Developing Countries with Proper Conditions and Correct Strategies

Release time:2018-03-25Author: Zhang Erzhen

Back in 2004, nearly 90-year-old Samuel Samuelson, a Nobel Laureate in economics and a famous American economist, wrote an article published in the American Journal of Economic Outlook. He analyzed the phenomenon that China's exports increased, which occupied the employment of the United States. He believed that when the "income gap" between developed countries and developing countries was greater than the "productivity gap", free trade may be harmful (to the developed countries), thus providing a theoretical basis for developed countries to carry out trade protection. Because of his great influence, Samuelson's anti-globalization view, which represented the interests of developed countries and ignored the interests of backward countries, became the "theoretical basis" of the "anti-globalization wave" at that time.