Influences of Economic Globalization and Countermeasures to be Taken by Developing Countries

Economic globalization can on the one hand provide developing countries with chances for pursuing economic development and technological progress to help themselves make use of later-starting advantage to carry out the strategy of catching up with and surpassing developed countries, but on the other hand, can also increase their risks in economic, especially financial, fields. The countermeasures to be taken by developing countries should be the correct understanding of the influences of economic globalization, seeking benefits and avoiding harm. They should strengthen their own economic power and their capability for making international competition in taking part in the process of economic globalization, intensify their mutual cooperation, and actively promote the establishment of a new international economic order.