September 1, 2016

"The 11th G20 summit is scheduled to be held in East China's Hangzhou on Sunday and Monday. Against the backdrop of anti-globalization sentiment spreading across the world, how the summit will influence the global economy has garnered wide attention. This is also the first time that the summit will be hosted by an emerging economy. High expectations have been placed on the summit to inject new vigor and vitality into the G20.

Worryingly, opposition to globalization is growing, especially in developed economies. Since the 1990s, transnational corporations have established a global production chain with the help of information and communication technologies. Entrepreneurs from the US and Europe were attracted by low salaries, cheap raw material and potential market in developing countries. Many countries that were isolated from international trade for decades emerged into the US-dominated global economic system after the disintegration of the Soviet Union. They became beneficiaries of globalization overnight."

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http://www.globaltimes.cn/content/1004170.shtml

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