China’s Central Role in the Globalization and Slowbalization Trends

Herrero Alicia Garcia ()
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Herrero Alicia Garcia: Chief Economist for Asia-Pacific at NATIXIS, Paris, France

The Economists' Voice, 2023, vol. 20, issue 2, 285-291

Abstract: China has played a central role in the previous phase of hiper-globalization but also in the ongoing phase of slowbalization, characterized by the decreasing size of global value chains which started after the global financial crisis in 2008. More recently, US-China strategic competition is contributing to the slowbalization process, especially in the technology space. Against such backdrop, China is reducing its dependence on the outside world, betting on technological self-reliance and working hard to build its own ecosystem. However, such trend does not mean isolation; on the contrary, China actively shapes its unique form of globalization by creating its own neighbourhood or area of economic influence. A prominent example of this effort is the Belt and Road Initiative (BRI), which aims at increasing China’s soft – and possibly hard – power with a hub and spoke approach.

Keywords: China; globalization; slowbalization (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1515/ev-2023-0054

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