Globalization brought decades of positive advancements in the form of economic growth, quality of goods and services, job opportunities and greater movement of labor. Today however, with protectionist reflexes growing around the world, those advancements have slowed, and are now very much under threat.
Over the last two decades, China’s extraordinary economic growth made it one of the world’s major beneficiaries of globalization. In turn, the economic rise of China has been a driver of continued globalization. The shift of economic power and influence to the East has reshaped the landscape of global trade. In particular, China’s Belt & Road Initiative, the most ambitious infrastructure programme in history, is creating new patterns of regional trade and economic relationships.
Rem Korteweg, Senior Research Fellow, Clingendael Institute, discusses the need for increased co-operation between Europe and China, and China and the US, to manage 21st century trade