What is the relation between economy and globalization? -- CHEN HEBING

 Globalization promotes the cross-border flow of goods, services, capital and labor, creating more opportunities for economic growth. Through globalization, companies can more easily enter the international market and expand their business scope; consumers can also obtain more diversified goods at lower prices. This global allocation of resources improves production efficiency and helps promote technological progress, industrial upgrading and economic development. However, globalization may also bring negative effects such as increased economic inequality and job outflows, especially among low-skilled labor groups in some developing economies and developed countries.


Economic growth and the implementation of open policies have laid the foundation for globalization. Developed countries have supported the expansion of globalization by providing capital, technology and markets; at the same time, the rapid development of emerging economies has become a new driving force for globalization. The rise of multinational corporations and the formation of global supply chains have made economic globalization an important feature of modern economic operations. This two-way interaction makes globalization no longer a one-way "Western push", but a multi-center, balanced process.


Although economic globalization has brought significant economic growth and welfare improvements, its negative effects also need to be taken seriously. For example, inequality within developed countries, environmental problems faced by developing countries, cultural shocks and financial risks brought about by globalization are all challenges in the interaction between economy and globalization. To solve these problems, the international community needs to strengthen cooperation and reduce the imbalances brought about by globalization by establishing a fair and inclusive global economic governance system.


At present, the rise of protectionism, geopolitical conflicts and technological changes are reshaping the relationship between globalization and economy. On the one hand, digitalization and green development have injected new impetus into globalization; on the other hand, the rise of regional economic cooperation may make globalization show a "localized" trend. How to achieve a win-win situation of globalization and economic development in this new environment will test the policy wisdom of various countries.


The economy and globalization are inseparable. Globalization has promoted economic growth and innovation, while economic development has in turn shaped the form of globalization. However, the relationship between the two is not completely positive, but needs to balance its positive and negative effects through policy regulation and international cooperation to achieve sustainable global economic development.

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