Change and Response: Global Economic and Financial Trends and China's Future

Author:

Publisher:

Date:

Macro-analysis of the global economic and financial situation, panoramic interpretation of China's opportunities and challenges

Focusing on the ways to cope with the great changes and grasping the new paths and trends of future development.

Introduction

The world today is undergoing profound changes unseen in a century. The outbreak of the COVID-19 epidemic in 2020 has caused the global economy to fall into a severe recession, and the unlimited quantitative easing policies of developed countries have pushed up inflation, forcing the central banks of developed countries to sharply raise interest rates. The global economy has entered a downward economic growth characterized by high inflation, high-interest rates, high debt, and low growth cycles and financial cycles from easing to tightening. The Russia-Ukraine conflict has intensified the world's geopolitical risks, economic growth faces huge uncertainties, and economic globalization has encountered the most severe challenge since the 1980s. At the same time, the world economy is also facing the impact, challenges, and opportunities of many emerging trends. A new round of scientific and technological revolution represented by artificial intelligence, quantum computing, the Internet of Things, blockchain, new energy, and biotechnology is in the ascendant. The ecological civilization represented by the carbon-neutral transformation has set off a "paradigm" of economic production methods since industrialization. The long tides and waves of change. The aging of the population is driving profound changes in the medical and health care, social care, and elderly care systems. In this context, it is of particular significance to explore and study how to promote the reform of global economic and financial governance and to propose China's plan promptly. Through three chapters: "The Changing Global Economy and Finance", "China's Opportunities, Challenges and Responses under the Great Change" and "The Future of Cooperation in Global Economic Governance", this book brings together the wisdom of many experts and scholars from the 50-member Forum on Global Economic Governance to From diverse perspectives and dimensions, we can study and judge the world's economic and financial development patterns, explore China's response to major changes, and provide new ideas and new plans to promote the reform and improvement of the global economic governance system.

Famous quotes from celebrities

Stimulated by the economic impact of the COVID-19 epidemic and the large-scale fiscal and monetary policies of major developed countries, the world economy is moving from the "three lows and one high" stage of low inflation, low-interest rates, low growth, and high debt since 2008 to a stage of high inflation, high the “three highs and one low” phase of interest rates, higher debt and low growth. This is a profound structural change as the global economy moves toward a downward cycle and global finance moves toward a tightening cycle.

——Zhu Min

In recent years, the two-way review of cross-border investment between the United States and Europe has become increasingly stringent, which has attracted widespread attention around the world. How to view this problem and how to deal with it have become important issues facing every policymaker, business elite, and professional. This chapter deeply analyzes the background, current situation, and future trends of the two-way review of cross-border investment between the United States and Europe from multiple perspectives, accurately grasps the policy changes, practical cases, and potential risks in the two-way review of cross-border investment between the United States and Europe, and helps readers better understand the complexity and uncertainty in this field and better respond to the challenges and opportunities brought about by globalization.

——Zhu Jun

RMB internationalization is a market selection process. The government's "promoting" role is mainly reflected in the implementation of healthy macroeconomic policies, maintaining flexible exchange rate arrangements, steadily expanding capital account opening, providing a transparent financial regulatory system, good property rights protection, and a friendly business environment. With these, the willingness of domestic and foreign institutions and individuals to use and keep RMB will naturally continue to increase.

——Zhang Liqing

The digital economy is becoming a new driving force for the global economy, and data elements are the core production factors of the digital economy. Their sharing and utilization will enable intelligent optimization, efficient decision-making, and industrial upgrading, and unleash the huge potential of the digital economy. Building a data element market and clarifying the property rights and trading mechanisms of data elements will not only help solve the externality problem of data elements as quasi-public goods but also allow data to be more widely applied and utilized among different organizations and fields, realizing Maximize the value of data.

——Zhang Xiaoyan

We are entering a new international environment, where ideological trends such as the "New Washington Consensus", "New Capitalism" and "New Industrial Policy" are prevalent. This is a reflection and correction of globalization over the past 40 years, moving further from economic globalization to geopolitics. Incidents such as the Russia-Ukraine conflict and the Palestinian-Israeli conflict are the prelude to major changes in the world that have not been seen in a century. At the same time, China is entering a new stage of development, implementing new development concepts, building a new development pattern, and promoting Chinese-style modernization. The best way to adapt to changes is to accelerate comprehensive and deepening reform, high-level opening, high-quality development, and do our things well.

——Zhang Yansheng

Multiple risks and challenges such as food, energy, economy and finance, public health, and climate change interact with each other and are intertwined. Under the multiple crises, the world economic momentum is insufficient, global development is insufficient and uneven, and global governance cooperation is lacking, causing global development to deviate from the normal track, development results are lower than expected, the development gap continues to widen, the development deficit continues to increase, and developing countries Facing difficulties in many fields such as politics, economy, society, and people's livelihood. In the face of a world intertwined with chaos, all parties should jointly deal with the peace deficit, security deficit, and governance deficit to provide the prerequisite and foundation for bridging the development deficit.

——Zhao Changwen