Trump's trade unilateralism is a global challenge - China Plus.
Global Mechanisms Weakening. Ten years make a difference. The global financial crisis (GFC) was first caused by the rampant derivatization of securities, based on poor credit and governance. The breakdown in the global financial supply chain led to a domino chain reaction and thus shook the world financial markets and then the world economy.Generally speaking, large emerging markets recovered from the financial crisis sooner than developed markets, which has allowed them to close in on developed countries. As a result, emerging countries have increasingly sought equal status, and are exerting an increasingly large influence in global affairs. New features of trade protectionism.But the US, where the 2008 global financial crisis started, dragged the world economy into a 10-year-long rebalance process and directly led to a sharp decrease of the demand and relative supply surplus, Zhou said. Against such backdrop, China has been endeavoring for a new balance with solutions like supply-side structural reform, he said.
Second, strengthening policy coordination and synergizing our development policies and strategies. We need to improve policy coordination, and reject beggar-thy-neighbor practices. This is an important lesson that can be drawn from the global financial crisis.Global value chain and international segmented production has become one of the main characteristics of the world economy since the global financial crisis broke out in 2008. The World Trade Organization (WTO) launched the “Made in the World” initiative after the financial crisis with a view to advocating reforms in the way of international.
Altogether, trade with China is credited with sheltering the New Zealand economy from the effects of the 2008 global financial crisis. In 2007, China started free-trade talks with Iceland but subsequent developments proved rocky.
