Document Type
Article
Department
Economics
Publication Date
1-1-2020
Abstract
© 2020 Informa UK Limited, trading as Taylor & Francis Group. Economic globalization is generally desirable and beneficial to a great extent, but not necessarily virtuous. Modern history has proven time and again that economic globalization may go astray if rivalry among big powers are not coordinated and regulated in a timely manner. Thorny issues arise inevitably when globalization involves big economies such as China, whose resource allocation mechanisms deviate significantly from that of a typical market economy. This paper will focus on: 1) What is virtuous globalization? 2) Why should big powers adopt the goal of three-zeros (zero tariff, zero barrier, and zero subsidy) as a necessary condition for achieving the goal of virtuous globalization? 3) Why should China in particular set a leading example to adopt and implement this policy to make a real contribution to the building of global institutions that are conducive to virtuous globalization as well as its domestic economic reforms.
Publication Title
Journal of Chinese Economic and Business Studies
ISSN
14765284
DOI
10.1080/14765284.2020.1862637
