In modern times, China has missed opportunities in the forms of two industrial revolutions and economic globalization. Since China’s reform began in 1978, the country has finally hit the road towards industrialization and modernization. 2018 marks the 40th anniversary of the aforementioned reform and the country opening itself up. This year sees the publishing of the collected works of existing studies on globalization and how the country opened up. It is of great significance to make a review and summary of previous research.
The papers included in these works chiefly reflect the research achievements of the authors in two areas: international trade theory and policy, as well as the theory and practice related to China’s open economy. Foremost, the relationship between free trade and trade protection had been discussed in-depth previously by domestic academics. Secondly, the assumption of the immobile international production components within the original trade theory has been broken, and the effect of capital flow on the international division of labor and international trade has been previously discussed in domestic academic circles, which led to the establishment of the concept of factor division. Thirdly, it was previously proposed by academics that, as a result of the new characteristics of contemporary globalization and international division of labor, the current round of globalization will be more favorable to developing countries that have a stable political structure, an equitable fundamental economic system, and valid opening-up strategy.
