Globalization has reached a turning point

Ten years since the global financial crisis, the world economy seems to be moving toward stabilization, but the risks, rather than declining, have increased significantly

Thanks to the active economic measures it took in response to the global financial crisis, China has achieved considerable results in the decade since the collapse of Lehman Brothers. In 2008, China and the United States accounted for 7.2 percent and 23.1 percent of the world's GDP, respectively. By 2017, China's share in the world economy had jumped 7.8 percentage points to 15 percent while that of the US increased 1.2 percentage points to 24.3 percent.

The world economy seems to have emerged from the crisis to move toward a period of stability. According to the International Monetary Fund, the global economic growth rate in 2017 was likely to be 3.7 percent, close to the 3.74 percent long-term equilibrium global growth rate from 1990 to 2007. More important, the world economy is expected to grow by 3.9 percent this year and in the subsequent years.