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Intensified Restructuring of the Global Industrial System and Remodeling the Competitive Advantage of Nations
Abstract
The global financial crisis of 2008 has profoundly changed global economic patterns. In response to the profound changes in the global economic environment and in order to position themselves for future economic development, all countries have engaged in significant industrial restructuring. This has led to a new round of industrial adjustment, transfer and upgrading, as well as profound adjustments in the modes of economic growth. It has also changed the pattern of international competition to some extent. Emerging economies in particular have exhibited “eye-catching” performance in overcoming the crisis, with robust economic recoveries and apparent enhancements of national competitiveness. In the current and forthcoming periods, global industrial upgrading will need more extensive technological support. Technical innovation is a key factor in enhancing the competitive advantage of nations. It will become an important driver for new and innovation modes of industrial development and global industrial benefit adjustments. All countries of the world should make timely adjustments to their economic structures, expedite innovations in industrial technology, and enhance core competencies so as to increase their international competitiveness.
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Author and article information
Notes
Jin Bei, “International Financial Crisis and the Industrialization in China,” The People's Daily , June 23, 2009 (in Chinese).
Huang Maoxing and Ye Qi, “Characteristics of and Causes Analysis on Worldwide Economic Crisis in Modern Era,” Xinhua Digest 20 (2010) (in Chinese).
Perspectives on Global Development 2013: Industrial Policies in a Changing World (OECD Publishing, 2013).
Liu Hong, “Adjustment of International Economic and Financial Order Has Become a Global Common Understanding,” Economic Information Daily , October 21, 2008 (in Chinese).
Joseph E. Stiglitz, “The End of Neo-liberalism,” Oriental Morning Post , July 12, 2008.
Nikolai Baffray, “London Summit: New Order of the Twenty First Century,” Le Figaro , April 5, 2009.
Michael Porter, The Competitive Advantage of Nations (New York: Free Press, 1990). Translated into Chinese by Li Mingxuan and Qiu Rumei (Beijing: Huaxia Publishing House, 1992 edition), p. 55.
Ibid.
Ibid.