Economic globalization makes various factors of production optimally combine and allocate resources on a global scale, thus promoting the rapid development of the global economy, which is characterized by the globalization of production, exchange, distribution and consumption. It is a "double-edged sword". While promoting the great development of global productive forces and accelerating world economic growth, it has also brought some negative effects, especially to developing countries. It can be said that positive effects and negative effects coexist, and development opportunities and severe challenges coexist. Developing countries should determine the steps, speed and depth of their participation in economic globalization according to their actual conditions, adopt favorable strategic decisions, principles and policies, and improve their coping strategies.
Keywords: economic globalization, opportunities and challenges for developing countries
Since the 20th century, one of the remarkable features of world economic development is the increasingly obvious trend of economic globalization, and the world economy has become an inseparable organic whole. Economic globalization is the objective trend of the development of socialization of production and internationalization of economic relations, which deepens the interdependence and mutual influence of national economies. It is of far-reaching significance to understand the development and performance of economic globalization, analyze its impact on developing countries and explore countermeasures.
I. Opportunities brought by economic globalization to developing countries:
First of all, economic globalization provides more conditions and opportunities for developing countries to attract foreign investment. Expanding the attraction of foreign investment will undoubtedly help solve the problem of capital shortage in developing countries.
Second, economic globalization has created a favorable external environment and conditions for developing countries' foreign capital investment, which has enabled their foreign direct investment to expand and grow rapidly.
Third, economic globalization has promoted the development of economic and technological development zones, bonded zones, free trade zones and other forms of free economic zones around the world.
Fourth, economic globalization has further deepened and accelerated the adjustment of industrial structure worldwide. Developing countries can take advantage of this opportunity, follow the organic unity of being based on reality and focusing on the future, and actively coordinate the relationship between industrial restructuring and domestic industrial upgrading worldwide. We should continue to introduce advanced labor-intensive industries from developed countries, give play to their comparative advantages, increase domestic employment, expand exports, and complete the industrialization process; At the same time, take advantage of the opportunities provided by economic globalization, increase the introduction and learning of advanced technologies from developed countries, develop a number of high-tech industries, especially occupy an advantageous position in some key links, seize the strategic commanding heights of future competition, and accelerate the domestic modernization process.
Fifth, economic globalization has promoted the development of transnational corporations in developing countries and gradually enhanced their competitiveness in the world market. Some multinational companies have developed very rapidly, from trade activities to international production and high-tech fields, and began to participate in international market competition, posing challenges to multinational companies in developed countries. Of course, on the whole, multinational companies in developing countries have low development level, small investment scale and small production scale, and their products are mostly labor-intensive products with low scientific and technological content. However, judging from the development trend, as economic globalization provides developing countries with opportunities to actively participate in international competition in a wider range of fields, the era when developing country multinational companies are more active in the world economic stage is just around the corner.
Sixth, economic globalization has stimulated the rapid development of international trade. Although developed countries are the biggest beneficiaries of international trade, developing countries, especially those in Asia, also benefit from international trade, accounting for about 20% of the total world trade. Second, the challenge of economic globalization to developing countries.
For developing countries, the challenges brought by economic globalization are more severe. While sharing some benefits brought by economic globalization with developed countries, developing countries also bear the negative effects brought by economic globalization, and even have a serious impact on their own economies. The challenges of economic globalization to developing countries mainly include:
First of all, developing countries are at a disadvantage in the current process of economic globalization. With the rapid development of global trade and global production system, as well as the continuous expansion of multinational corporations and their capital, the national economy of developing countries is facing increasing pressure and impact, and their dependence on developed countries is also increasing. Developed countries control the international economic system and have capital and technological advantages in their hands, leaving most developing countries far behind economic globalization.
Second, financial globalization under economic globalization has not only promoted the economic growth of developing countries, but also brought financial risks and economic shocks that cannot be ignored. At present, a global financial market with 24-hour electronic transactions has been formed, which not only provides greater convenience for market transactions, but also provides opportunities for many speculators in the financial field. Due to the enhancement of world market power and the continuous expansion of large multinational corporations in developed countries under the condition of economic globalization, it may impact some domestic industries in developing countries, threaten the security of their domestic markets and weaken the power of developing countries in economic affairs.
Third, when solving global problems, developing countries are also facing an embarrassing situation. On the one hand, they want to develop the economy and improve people's living standards, on the other hand, they are accused by developed countries of destroying the environment. In fact, developed countries have surpassed the stage of industrial development and should be responsible for the results of environmental pollution. At the same time, economic globalization makes developed countries transfer more and more labor-intensive and resource-intensive industries and industries that seriously damage the ecological environment to developing countries. Although in a sense, labor and resource-intensive industries in developing countries can be greatly developed and the process of industrialization can be accelerated, their good natural environment is polluted, the balanced ecosystem is destroyed, the waste of resources is quite serious, and the social burden cost is increasing day by day. More importantly, it will not help developing countries to develop high-tech industries and accelerate scientific and technological progress, thus affecting their development and ultimately affecting the sustainable development of the whole world.
Fourth, economic globalization has led to and exacerbated the further imbalance of world economic development. The outstanding performance is that the gap between the North and the South is widening, and developing countries are more backward than developed countries, especially those at the bottom are more poor and backward.
Fifth, the biggest problem or threat brought by economic globalization to developing countries is that national sovereignty is impacted and weakened, and national economic security is challenged. First of all, the development of economic globalization requires countries to transfer and share economic sovereignty to a certain extent. But in fact, this transfer and sharing is asymmetric. Due to the differences in economic strength, developing countries need more capital, technology and even management experience from developed countries, which provides conditions for developed countries to impose some unreasonable demands on developing countries. Secondly, due to the strengthening of worldwide market power and the continuous expansion of large multinational corporations in developed countries under the condition of economic globalization, it may impact some domestic industries in developing countries, threaten the security of their domestic markets and weaken the power of developing countries in economic affairs. Finally, the establishment of "supranational" specialized international economic organizations to meet the needs of economic globalization also limits the economic sovereignty of developing countries.
Third, the countermeasures of developing countries
After fully realizing the opportunities and challenges brought by economic globalization, the more important question for developing countries is: How should countries make their own strategic choices in the face of the irreversible historical trend of economic globalization? Developing countries have long been backward in national industrial machinery, equipment, technology and technology, and their production efficiency and management level are low. What should developing countries do in the face of the fierce challenge of multinational corporations joining hands to seize the global market? How should the financial system of developing countries deal with the "scourge" of international hot money in the constantly opening financial market? Facing the great adjustment of global economic structure and the continuous upgrading of technology, how should developing countries change their "small, scattered, low and homogeneous" economic structure? Facing the arrival of knowledge economy and the emergence of "new economy", how should developing countries catch up? Facing the "erosion of national sovereignty" brought by economic globalization
The impact of national economic security, as a relatively vulnerable group of developing countries, how to deal with it? Wait a minute. Whether these problems are solved or not directly determines the success or failure of developing countries' participation in economic globalization, and will ultimately affect the realization of economic modernization in various countries.
Therefore, developing countries must be cautious and not blindly follow in the process of participating in economic globalization. From a strategic point of view, countries should fully consider their own economic conditions, comprehensively balance all aspects of relations, weigh the advantages and disadvantages, and formulate participation strategies and countermeasures suitable for their national conditions. References:
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