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In search of a new paradigm of globalization toward a community with a shared future for mankind: observations on global governance from the perspective of political economy

ZHOU Yu1

(1.Ministry of Foreign Affairs of the People’s Republic of China)

【Abstract】Globalization has brought about unprecedented prosperity, but has also resulted in growing inequality. In the face of the rising trend against globalization, it is necessary to approach global governance from the perspective of political economy, as development is about economics, but distribution is about politics. By tracing the evolution of the anti-globalization trend, this article argues that while globalization has greatly narrowed the wealth gap among countries, the wealth gap within countries has kept widening. Economic differentiation has led to political polarization. When populist politicians in some countries opt to politicize economic problems and blame foreign countries for domestic problems as a political expediency, we see a collective wave against globalization at the international level. The article also analyzes the root causes of anti-globalization. They include the narrowing down economic differentiation caused by technological progress, getting rid of the mismatch between the institutional supply and the reform demands, and the “dilemma paradox” of global economic governance, namely, the conflict between the borderless world economy and the global governance system based on nation-state. To solve those problems, we need to find a new paradigm of globalization that is more inclusive. To that end, we must recalibrate the role of the market and the government in the economy, rethink the universal applicability of liberal democratic system, and make efforts to build a community with a shared future for mankind to improve global governance.

【Keywords】 globalization; anti-globalization; global governance; a community with a shared future for mankind; the Belt and Road Initiative;

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    Footnote

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This Article

ISSN:1007-0974

CN: 11-3799/F

Vol , No. 06, Pages 117-128+7

November 2018

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Abstract

  • 1 From globalization to anti-globalization
  • 2 Perspectives on cause of anti-globalization
  • 3 Recalibration of globalization
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