Double-engine economy

China plays an important role in linking developed economies with developing ones and contributing to world growth

For a long time the developing economies in Asia, Africa and Latin America were economically dependent on developed countries. With many restrictions imposed on their independent development, the developing countries were in a disadvantaged position in the international division of labor and industrial chain. The developing economies mainly provided resources and markets for the developed world with the developed economies having great economic influence over developing economies.

One of the key characteristics of such an economic system was that the Western world exerted a strong impact on the world economy, when it enjoyed normal development, the world economy developed normally, but when it experienced recession or crisis, the effects would be transferred to other countries.