the influence and essence of economic globalization

economic globalization is one of the important characteristics of the contemporary world economy and an important trend of world economic development. The process of economic globalization has already begun, especially since 198s, especially since 199s, the process of world economic globalization has been greatly accelerated. Economic globalization is conducive to the rational allocation of resources and production factors in the world, to the global flow of capital and products, to the global expansion of science and technology, to the economic development of underdeveloped areas, to the performance of human development and progress, and to the inevitable result of world economic development. But it is a double-edged sword for every country, which is both an opportunity and a challenge. Especially for developing countries with weak economic strength and relatively backward science and technology, the risks and challenges will be more severe in the face of fierce global competition.

Since the 199s, the negative impact of economic globalization has become increasingly apparent:

First of all, economic globalization has made the global economy more obvious. Due to the unprecedented interdependence of national economies, the internal economic imbalance of any country will lead to external economic imbalance, which will affect countries with close economic relations with it and eventually "infect" all countries to varying degrees. Thailand's currency crisis two years ago quickly spread to Southeast Asia, South Korea and Japan, resulting in a serious regional financial crisis, and then spread to Russia and Latin America, which triggered a global financial turmoil. This is a typical example.

Secondly, economic globalization has made the economic sovereignty of countries, especially the independence of fiscal and monetary policies, face increasingly severe challenges. Some of these challenges are the "active" concessions of economic sovereignty, including the previous negotiations on tariff reduction and trade liberalization in the World Trade Organization, and the "economic adjustment" that some countries were forced to make in order to obtain assistance from the International Monetary Fund. Others are the interference of transnational private economic forces on the economic sovereignty of various countries. The most typical examples are multinational corporations and international hot money. According to the statistics of UNCTAD, at present, 1/3 of the world's gross domestic product, 2/3 of the world's trade volume and 9% of the world's foreign direct investment are created by multinational companies, but their strategic objectives are rarely consistent with the long-term economic planning of the host country, which has a negative effect on the host country's economic policy. The experience of many countries shows that multinational companies are often the main responsible persons for large-scale currency speculation during the period of exchange rate turmoil. At the same time, under the background of economic globalization, the capital accounts of various countries are gradually opening up, and the effectiveness of capital control is declining, which has opened a "convenient door" for the impact of international hot money and made many countries suffer from the impact of foreign capital.

Third, economic globalization has aggravated the existing gap between the rich and the poor. Global competition creates efficiency, and at the same time, wealth is increasingly concentrated in a few countries or a few interest groups. One of the reasons is the uneven distribution of benefits brought about by economic globalization. As the main owners of capital and advanced technology, developed countries are always at the center of globalization, which gives them the dominant position in price setting, and they can use their control over the World Bank, the International Monetary Fund and the World Trade Organization to formulate self-interested rules, implement convergence standards and force developing countries to open their markets; However, developing countries, as the main owners of labor as a factor of production, are always in a marginal position.

The essence of today's economic globalization is capitalist globalization, which is the expansion and extension of capitalist relations of production on a global scale. The urgent problem to be solved in the current economic globalization is to establish a fair and reasonable new economic order to ensure the fairness and effectiveness of competition.

I hope to adopt it with satisfaction.