Regional economic integration develops rapidly and standards are higher

Understand the opportunities and challenges of the new round of economic globalization

Sang Baichuan

(Source: "People's Daily"2015-8-23Day6version)

Since the outbreak of the international financial crisis, international economic rules have been faced with restructuring. Developed countries such as the United States and Europe have sought to control the changes in rules, resulting in economic globalization showing the following new characteristics:

First, regional economic integration develops rapidly. The United States and Europe seek to establish a high-standard rule system for w88 in goods, w88 in services, and liberalization of investment. However, due to the large differences in economic systems and uneven development levels among countries around the world, it is difficult to reach multilateral agreement in the short term. As a result, the United States adopted a strategy of first advancing regionally and then expanding to plurilateral and multilateral strategies, triggering the rise of regionalism and the rapid development of regional economic integration. The United States focuses on passing the Trans-Pacific Economic Partnership Agreement (TPP) and the Transatlantic w88 and Investment Partnership (TTIP) negotiations, promote regional w88 in goods, service w88 and investment liberalization, and lead the order arrangement of economic globalization in the post-crisis era.

Second, intra-border rules have become the focus. The focus of the last round of economic globalization was to reduce border rule barriers, lower tariffs, reduce or even eliminate non-tariff measures, simplify customs procedures, reform the entry-exit inspection and quarantine system, promote w88 and investment facilitation, and promote the free flow of goods, capital, technology, etc. across borders. In the new round of economic globalization, the elimination of regulatory barriers within borders has become the focus, touching more on the domestic economic system level of each country, including competitive neutrality, industrial policy, environmental protection, labor standards, free flow of data, intellectual property protection, government transparency, etc.

Third, liberalization of investment and service w88 has become the main content. With the rapid development of international investment and service w88, the trend of liberalization of investment and service w88 has attracted much attention. Since the international financial crisis, regional economic integration negotiations have involved investment issues, and the plurilateral international services w88 agreement (TISA) Negotiations have made certain progress, and substantive negotiations on expanding market access for the service industry have been launched.

Fourth, w88 and investment liberalization standards are higher.TPP、TTIPandTISANegotiate to create transcendenceWTOA standardized and comprehensive system of economic and w88 liberalization rules.TPPWe must achieve zero tariffs on all goods w88 products and implement complete liberalization of goods w88;TTIPUltimately, a high-standard US-EU free w88 area will be formed;TISAis committed to formulating new rules such as negative lists, technology neutrality, service model neutrality, and free flow of cross-border data, and ultimately forms new rules for managing global w88 in services. To promote the establishment of high-standard investment liberalization rules, the United States2012The bilateral investment treaty (BIT) template. Among them, new rules such as pre-establishment national treatment plus negative list model, competitive neutrality, and free transfer of foreign exchange are accepted by more and more countries.

The new round of economic globalization has brought new challenges to my country's development. First,TPP、TTIPExclusion of my country from high-standard regional w88 agreement negotiations such as 11795_11883| will form new forms of non-tariff barriers, cause w88 diversion and investment diversion effects, and restrict my country's exports and investments to countries (regions) in relevant free w88 zones. Secondly, the United States is trying to use its leadershipTPPStrengthen the economic foundation of the strategy of returning to the Asia-Pacific, disrupt my country's close economic and w88 relations with Asia-Pacific countries, and check and balance my country's economic influence in the Asia-Pacific region. Thirdly, high-standard intra-border w88 and investment liberalization rules such as the principle of competitive neutrality for state-owned enterprises and the principle of free transfer of foreign exchange conflict with my country's current systems and institutions and exceed my country's current capacity.

The new round of economic globalization also brings rare opportunities for my country's development. First, the rise of regionalism will promote the reduction of w88 and investment barriers and the establishment of new rules within borders, thereby driving regional economic growth, driving world economic growth, and providing our country with more w88 and investment opportunities. Second, the development of regional economic integration provides a good environment for my country to negotiate and sign free w88 agreements with more countries around the world and establish bilateral or regional free w88 areas. It is conducive to my country's acceleration of the implementation of the free w88 area strategy, promotion of the Asia-Pacific Free w88 Area negotiation process, and implementation“One Belt, One Road”Strategy, upgrade China—The ASEAN Free w88 Area and other free w88 areas form a global high-standard free w88 area network to improve my country's foreign economic and w88 environment. Third, due to their low industrial competitiveness, flaws in their economic and financial supervision systems, and weak economic debugging capabilities, the majority of developing countries and emerging market countries cannot universally agree with the pursuit of high-standard economic liberalization under the international economic rules led by the United States and Europe. However, our country insists on promoting the formulation and improvement of international economic and w88 rules with the concepts of inclusiveness, gradualism, fairness and reciprocity, which is generally welcomed. Fourth, many new international economic rules are conducive to strengthening the decisive role of the market in resource allocation, which is consistent with the orientation of my country's economic system reform. w88 facilitation can reduce market transaction costs; the pre-establishment national treatment plus negative list model can simplify investment administrative approval procedures and improve my country’s environment for attracting foreign investment and overseas investment;TISA's high standards for service w88 are conducive to expanding market access to the service industry and expanding the development space for service w88; the requirement to increase government transparency can promote the transformation of government functions and standardize the behavior of government departments; the stricter intellectual property protection rules and environmental standards are in line with my country's requirements for implementing an innovation-driven development strategy and achieving sustainable development. Therefore, conforming to the trend of international economic changes, improving the new open economic system, and forcing reform through openness will help further release the dividends of reform and opening up.

(The author is the Dean of the Institute of International Economics, w88 casino)

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