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Global chaos offers hints of new world order (3)

By Zhang Yuyan (Global Times)

14:37, December 07, 2011

China should carefully evaluate potential influence the new order will have on itself. At the beginning of the reform and opening-up policy, China was expected to implement free trade, later fair trade, and now rule-based trade. The world keeps putting forward new demands for China.

The process of globalization makes it necessary to reset and standardize rules. China is now facing a re-globalization era. As for the idea that 2011 is a crucial year, I prefer to regard it as a big turn from globalization to re-globalization.

Re-globalization means setting new international rules, and the power of rule-making will become the focus of future competition. China needs to make good use of this opportunity to advance its development.

The article was compiled based on a recent speech by Zhang Yuyan, director and researcher at the Institute of World Economics and Politics, Chinese Academy of Social Sciences. [email protected]

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