After the financial crisis the world economy, the world’s major countries, 20 heads of state gathered four times, to discuss good way through the crisis, leading the development, jointly proposed bailout, dollar as the core of the reform the world financial system, and prevent trade protectionism resurgence of other major measures. In the most critical moment of the world economy has played a key role. The G20 is currently a consultation mechanism has replaced the 8, the participating countries covering more than 80% of the world economy, an increasingly important role, the meeting mechanism has become increasingly normalized. In the context of globalization, a coordination mechanism over sovereignty has come. This as a platform for future world leaders the world economy is bound to jointly develop the direction and priorities, defining new rules, establish a new order, coordination of major activities. Economic development trends over sovereignty of the world seems to have become the core of the evolution of future situation.

World economy tilted to the emerging markets, emerging economy?

In the world economy is in crisis, emerging economies, including China, strong shock resistance in general, economic recovery, recover faster, thus driving the world economy has bottomed out and became a major force. Looking ahead, the United States, Japan, the EU model of economic restructuring and changing the task more arduous, but the majority of emerging economies to achieve rapid growth in the case of adjustment. Thus a major adjustment in the era of the world economy, emerging market demand prospects will be brighter, the United States, Japan and Europe market demand is relatively weak, the pattern of this major world markets, the evolution of China’s foreign economic development strategy needs to focus on transfer.

Great battle Age of resources?

Comparison of the last century’s world economy, 50-70 golden period of development, when the developed countries with 8 million people sustained rapid economic growth, high demand for resources has erupted two oil crises, a period of soaring resource prices, resource supply and demand thereby affecting the tension between the international political relations. With 30 million people, the emerging economies into the new development stage of industrialization, demand for resources is a significant increase in long-term supply of resources and has tremendous pressure. In 2008 crude oil price was pushed up to 147 U.S. dollars / barrel, one step away from the oil crisis.

Developed economies after the financial crisis, although the need for major adjustments, the economy entered a slow growth period, but the pace of development in emerging economies still maintain a rapid growth, such as long-term rapid growth of India, is expected to grow by 8.5% in the year 2010, which is unprecedented speed. While Indonesia, Vietnam, Brazil is also overheating economic growth, inflation concerns.

Further analysis of the crisis in the world economy, resource exporters such as Australia, Canada, Brazil’s economic performance impact, mainly because of the resources from the needs of emerging economies experienced a rapid recovery after a brief decline in external demand as the main factors driving economic growth . The long term, the world’s great potential resource requirements, generate sustained pressure on supply. The current iron ore prices continue to surge in the international market on the Chinese economy has been enormous pressure of reality. Therefore, the world resources supply and demand tension is bound to become China’s long-term development of foreign economic development one of the strategic focus of consideration.

The above analysis, I believe that the world economy to adjust, the green revolution, changes in market structure, emerging economies, the rise of long-term tight supply of resources, etc. from a different point of view of several major world economic development trends, and their mutual relationship between the core and periphery is not nor between native and derivative, but not the leading and follower relationship.

The trend over sovereignty to the G20 summit in the international arena, participating countries covering 80% of the world economy, with more adequate representation. World leaders in this arena will be regular consultations on the proposed policy advocacy, and send a message, the “energy” is enough to lead the world economic development; Jiner summit also set up some working groups, study groups, study and solve major global economic issues, propose solutions to the world economy Problems in the Development programs; with the International Monetary Fund, World Bank, World Trade Organization to actively participate in the summit, from which play a specific role in the implementation. Shows a 20-nation summit as a stage to research group, working groups and international organizations to two, to promote world economic development of a super-sovereign system, the system has taken shape and will play a leading world-wide and central role. Thus, the new era of economic operation of the essential characteristics of the world and should be the central issue of sovereignty over mechanisms and system. From this perspective, the world economy is entering a new era of unprecedented – over sovereignty era.

Sovereignty over the world entered the era of unprecedented challenge against China, but also China’s foreign economic development of the new opportunities. What made China’s development strategy should be put forward ideas and proposals how to play the world’s largest economy due role, as to make due contribution to world economic development, etc., these will be we need to seriously study.

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Category: World Affairs
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