Abstract

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Title:: Exploration on the reverse globalization and international economic order in the post-COVID-19 era

Author(s):: TONG Jiadong; LIU Cheng; School of Economics，Nankai University，Tianjin300071，China

Keywords:: post-COVID-19 era; reverse globalization; WTO; international economic order; economic globalization; global value chain; regional division of labor system; China; U.S.

Abstract:: On account of the new changes occurred in the global economic order in the postCOVID19 era, this paper analyzes the two waves of economic globalization and reverse globalization in history as well as their development trends, and studies the impact of the COVID19 and the adjustment and reform of international economic order based on the demonstration of the WTO reform. The research finds that economic globalization is not able to benefit the owners of production factors in a country equally, but will instead polarize income among different owner groups; the periodic feature of income inequality occurred in multiple countries during the rise and fall cycles of the two waves of globalization. As the extensive impact of the COVID19 increased the uncertainty of global economy, and under the urgency of reverse globalization, all countries wish to implement the WTO reform in terms of specific actions, the revision and addition of relevant clauses etc. in order to drive the economic globalization. China should actively participate in the entire cycle of global value chain, build the regional division of labor system dominated by Chinese industries and Chinese technology, adhere to the intensification of economic reform, establish an open and highlevel platform with multiple grades, and become an active advocate of international economic order and the enforcer of exemplary deeds.