At present, the world economic situation is current, the fundamentals of the world economy are good, and major economies maintain growth. In the first half of this year, the annual growth rate of American economy was 4. 1%. Japan's economy has grown steadily and deflation has basically been eliminated. The EU economy is expected to grow by 2. 1% for the whole year, which is higher than last year. The economy of developing countries continues to grow rapidly, and the promotion of China, Indian and other developing countries to world economic growth is further manifested. International trade has maintained rapid development, a new round of cross-border mergers and acquisitions is in the ascendant, and the scale of international direct investment continues to expand. According to the forecast of the United Nations, the annual growth rate of the world economy will reach 3.6%. However, the operation of the world economy is also facing problems and challenges such as the increasing imbalance of global economic development, the high fluctuation of resources and energy prices, the increase of trade barriers and the tightening of monetary policy environment. Regional hot issues persist, and natural disasters such as terrorist activities and earthquakes occur frequently, which also increases the cost and risk of world economic operation.

Opportunities and Challenges Facing China (1) Opportunities Facing China. First, the relaxation of the world situation has provided favorable external conditions for China to concentrate on economic construction. Second, under the situation of multipolarization in the world, China's international status and role have been improved. (2) Challenges faced by China: First, under the trend of regional grouping of the world economy, the economic and trade protectionist barriers of regions or groups make China's foreign economy face fierce competition. The second is to face the challenge of the new scientific and technological revolution. After the disintegration of the world bipolar pattern, the role of the arms race has declined relatively, and the competition of comprehensive national strength has come to the forefront. All countries are adjusting their national strategies, and regard the development of science and technology as the focus of their national development strategies. All countries regard the development of science and technology as the key factor of comprehensive national strength. How to choose an economic system and a scientific and technological system suitable for China's national conditions, so as to meet the needs of the development of productive forces and meet and overcome the challenges of the new scientific and technological revolution, is a new topic facing China in the present era. Third, it faces the challenge of global integration of the world economy. History has entered 2 1 century, and the trend of global integration of the world economy is becoming increasingly obvious. Acting in accordance with international economic practices and actively participating in international economic competition and cooperation are the objective requirements of world economic development. With the further development of global economic integration, it is difficult for any country to maintain a closed economic model. Therefore, China's only choice is to conform to this trend and strive for the initiative of economic development. Fourth, facing the test that the international socialist movement is at a low tide. After the disintegration of the bipolar structure, the United States has become the only superpower, which has reduced the containment of the former Soviet Union in pursuing power politics, and the pressure on socialist countries such as China and some developing countries will also increase accordingly. Faced with the above challenges, only by persisting in building Socialism with Chinese characteristics Theory, adhering to an independent foreign policy and relying on scientific and technological progress can we actively participate in international competition, enhance our comprehensive national strength, meet various challenges and realize China's socialist modernization as soon as possible.