Transformation of International Order, Globalization and External Constraints on China’s Opening-Up

Abstract

Since the outbreak of the global financial crisis, the global economic and political order has entered a long period of great depression and transformation. The game between developed countries and emerging superpowers marked by the Sino-US trade war has profoundly reflected the difficulty and unpredictability of this transition process. The decline and transformation of the global order has its origin in the rise and fall of the national strength of rising powers and established powers, the reversal of neoliberalism and economic globalization, and the stagnation of the process of multilateralism. From the perspective of future trends, the transformation of international order is highly uncertain, and one of the core issues is the increasing right-wing populism in Western countries. In essence, right-wing populism is the result of the failure of developed countries to make timely adaptability adjustments to their domestic policies in the rapid development and combined effects of neoliberalism, technological change and globalization since the 1980s. However, in the uproar of irrational electoral politics and the so-called fair trade, anti-globalization aimed mainly at emerging countries has unfortunately become the root of all problems and a scapegoat for populism. As a beneficiary and promoter of economic globalization, and in the new round of reform and opening-up, China needs to change the traditional development concept of growth supremacism and nationalism and pay more attention to the spillover effects of its own economic growth so as to promote inclusive growth between and within various countries and finally realize the historic mission of building a shared destiny for mankind.