Building resilient globalization to boost world recovery

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by Xinhua writer Liu Lina, Ni Yuanshi

BEIJING, July 31 (Xinhua) — As a consequence of COVID-19, the world is undergoing the worst economic recession in decades and globalization is becoming fragile. Building resilient globalization requires new international cooperation, in which China will continue to play a constructive role, experts said in a recent forum held in Beijing.

GLOBALIZATION AMID CHALLENGES

According to World Economic Outlook by International Monetary Fund, world economy experienced an estimated contraction of 3.3 percent in 2020. Distrust among countries rose amid complicated international competition while free trade is doubted.

Has the globalization fragmentized or even stagnated? What is the future of international cooperation?

“Globalization is an irreversible historical trend, though with twists and turns,” said Chen Deming, chairman of China Association of Enterprise with Foreign Investment and former minister of commerce of…

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