Hou Yunchun, Former Deputy Director of the Development Research Center of the State Council

Thank you. I am not an authoritative expert at all. As a participant, I would like to talk about this topic and discuss it with everyone. My topic is "The new technological revolution will definitely promote the deepening development of economic globalization." At present, a new round of technological revolution is whistling. Some people have summarized the current technological revolution into the third technological revolution. Some say it is the fourth technological revolution.  Everyone knows that the first technological revolution is the invention of the steam engine, the second technological revolution power application, and the advent of the third technological revolution computer, which have brought tremendous impetus to the development of the global economy and the progress of human society.

What is the characteristic of the new round of technological revolution now? The experts of the State Council Center have summarized it as a master multi-easy, a digital, networked, intelligent innovation development, and more is a new technology, new materials, New energy, etc., the innovative development of these technologies is applied in China.  The most important feature of the new round of technological revolution is the integration and integration of these representative technologies and practical applications in various fields such as economy and society.  This new technological revolution has brought a series of profound changes to all aspects of our production division, industry organization, and social management. Therefore, this round of technological revolution can be regarded as a continuation of the computer revolution. It can be said that the third technological revolution can be seen as the fourth round of technological revolution, the fourth technological revolution. I agree that this is the fourth technological revolution.

We are now talking about the digital age. The most iconic of the final representative results of the new round of technological revolution is the intelligence. Everything is interconnected, everything is intelligent, and of course digitalization and networking are all important factors and important support for the new technological revolution. Then this new technological revolution will surely be a huge boost to economic globalization, so the economic globalization is driven by the technological revolution. Also, technology is required by economic globalization, because economic globalization knows that he is based on the comparative advantages of various countries. Economic globalization is the best thing for all countries to do, the lowest cost, and the best. Those products, those services, those industries, and then everyone exchange and exchange through the market through trade. The cake must be bigger, but how to divide the cake while making a big cake is a problem. This is a global problem that needs to be solved by a global governance process.

Over the years, it can be said that the global economic relationship has two eyes, one eye to see the United States and one eye to look at China. In the past, the international economic crisis has seen the United States begin to be quantitative easing, how many times, how much, and when to withdraw quantitative easing. When to raise interest rates, how many times will be added in the future?  Looking at China with one eye, is the Chinese economy going up or down, how fast is the economy going down, and when is it going to the bottom? So now these two eyes are focused and where are they focused? Sino-US trade disputes can be said The Sino-US trade dispute is currently the most important factor affecting global economic information and market expectations. Where is the Sino-US trade dispute actually? Trump believes that tariffs on Chinese exports and friction reduction, what is the result of this program? Not only has it not shrunk, but the trade gap between China and the United States has increased by nearly $30 billion and $29.7 billion compared with previous years.  The same period last year was $196 billion, an increase of $29.7 billion.  If the tariff is raised and the problem cannot be solved, then this method will not work.  But where is the problem? Why is there a Sino-US trade dispute? It is because of the poor trade, this is a phenomenon, and how is this trade difference formed? Because the US savings rate is low, China is relatively high, this is the global industry.

In the United States, there are trade technologies to China, and high-tech is not willing to sell to China. He has the responsibility to provide liquidity to the world economy. If the US trade surplus is not available in the world, what is the problem? In the past, Sino-US trade was mainly complementary.  We sell to China, the United States, the United States does not produce, consumes our energy, pollutes our environment, we supply a large number of low-end products, labor-intensive products to the United States, and the products that the United States sells to us are also impossible for us to produce. Now with China Economic development, technological advancement, we have some medium and high-end products, China is upgrading to the mid-to-high-end global industrial chain, and the factors of competition between the two countries have increased. This has led to some frictional conflicts, but I think this problem is completely Can be solved, no one should be afraid of competition, no matter which field.

Competition is a huge force for promoting economic progress. I think that the Sino-US trade war cannot be played all the time. I always have to find some solutions because everyone understands that there is no winner in trade war disputes, and competition trade benefits all countries. How do we find more common ground here? Everyone is under the same economic rules and start to compete fairly. Here, including the protection of intellectual property rights mentioned by the former US Secretary of State, China is now increasing its knowledge. I think the US patent office wall says "The patent system is the oil for the genius fire." I think it is very good. Protecting intellectual property rights is actually protecting advanced productivity.

Economic globalization, new technology revolutionary market competition is a major fundamental driving force for economic development. Economic globalization is the inherent requirement and objective regulation of world economic development. Economic globalization is irreversible.  At present, there are still many difficulties in the development of the world economy. There are also some twists and turns in economic globalization. I believe that with the joint efforts of all countries and enterprises all over the world, we will seek more consensus and reach consensus in the digital era. You can share the new technological revolution, the digital age, to give us human results, thank you!