Commentary: Globalization and Responsible Attitude
The 29th annual meeting of the World Economic Forum (WEF) chose "responsible globalization" as its theme, which is in accordance with the objective demand of the current world economic situation.
As an international forum actively initiating globalization, the WEF now seriously rethought side effects of the globalization, which is good for the world economy to develop toward a healthy direction.
In recent years, globalization not only speeds up the development of world economy, but also brings some serious negative effects. The developed countries enjoy the "benefits" of the globalization while the developing countries are facing more challenges. It is clear to all that globalization expands the gap between the rich and the poor.
Some developing countries suffer the attack of financial and economic crisis, then political and social turmoil appears in these countries. At present, the major task facing the developing countries is to guarantee the economic security of their own.
In the economic globalization environment, close ties have been formed between the developing and developed countries. One nation's financial and economic crisis will be more infective to others.
Globalization has increasingly shown the unfairness of the current international economic order. The developed countries, especially the big powers, should adopt more active measures to prevent and restrain over-speculation on the international capital market and drastic turbulence of the financial market, so as to help the developing countries to overcome difficulties and avoid new crisis.
On the other hand, the developing countries should find a developing road suitable for their own political systems, culture backgrounds and economic development levels, instead of copying the experience of others. These are responsible attitudes under the globalization conditions.
The financial market is difficult to be controlled and predicted, which is disadvantageous to flourishing of the world economy. Strengthening financial regulation and rebuilding international financial order are urgent problems that have to be solved.
We cannot expect that the G7 summit this June will solve every complicated international problem. However, the developed should have the sense of responsibility of helping the underdeveloped, which also means helping themselves. Globalization has shown that all people are in the same boat.
Indepth 1999-02-05 Page6
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