The economic globalization is an objective trend of the economic development of the contemporary world. Since the beginning of the 1990s, along with the conclusion of the Cold War, science and technology have developed rapidly and trans-national companies have continuously expanded their scale. The globalization process has sped up obviously, with conspicuous expressions found in the accelerated flow and disposition of production factors in the global sphere, the deepening of mutual influence of the economies in various countries and the strengthening of interlink.


At the same time, we should see with a cool head that the influence of the globalization on countries in different stages of development is entirely different. Due to the disparities in the economic strength and the level of development and the irrationality of the current international economic order, the "dividends" derived from the globalization are not fairly distributed between the developed countries and the developing countries. The developed countries have apparent advantages in capital, technology, human resources and administration and have grasped the dominant power in formulating "the game rules" for world economy. They are the most active propellers and the biggest beneficiaries of the globalization. The developing countries on the whole are in a fairly unfavorably position. By participating in the globalization, the developing countries may probably obtain certain foreign funds, market, advanced technologies and management experiences, thus accelerating their economic development, but they are greatly affected by the negative influence of the globalization. In the 1990s, especially in recent few years, the disparity between the North and the South has further widened. The economic sovereignty and economic security of the developing countries are confronted with enormous pressure and stern challenges. The economies of the least-developed countries have gone from bad to worse. The United Nations Report on Human Development shows that the trend of globalization has made the poor poorer and the rich richer.


The fact that the Asian financial crisis has triggered a global financial unrest shows that the current international economic order has become more and more incapable of meeting the needs of the economic development in today's world. It has increasingly become an urgent subject confronted by the international community to reform the old international financial system and establish a new international economic order. We hold that a globalized economy calls for globalized cooperation. All countries, big or small, poor or rich, strong or weak, should have the right of equal participation in the international economic affairs, and the formulation and revision of "the game rules" should not be determined by a small number of countries or groups of countries. In the process of globalization, the developed countries should assume more responsibilities in such fields as curbing the negative effects of the globalization and helping the developing countries to overcome difficulties. Without the synchronous development of the developing countries, the developed countries will find it difficult to get benefits for themselves. The developing countries should choose a path of development that suits to their national situation in the light of their own conditions. They should promote reform and opening-up in an orderly way and step by step, heighten their ability to prevent risks and maintain a steady and healthy development of their economies. At the same time, they should, by strengthening economic cooperation, uniting for self-improvement and striving for common development, energetically promote the establishment of a just and equitable new international economic order, so as to make it possible for the world's trend towards economic globalization to evolve in the direction favorable to the common prosperity of mankind.