1 The inherent requirements of the new globalization

Before the difficulties and challenges in the process of globalization so far, the correct attitude is not to avoid or retreat. People should work together to promote a new globalization which is more justifiable, reasonable and inclusive.

First, the new globalization should achieve dialectical unity of fair trade and free trade. Chinese leaders repeatedly stressed on many occasions that free trade and fair trade complement and support each other. On the one hand, without free trade, fair trade would be impossible. On the other hand, without fair trade, free trade is not sustainable. People should not impose protectionist policies with the excuse of seeking equity and fair trade. Surplus or deficit reflects the objective characteristics of the development stage, comparative advantage and trade structure in different countries. Government intervention does not lead to the equitable distribution of welfare or benefits among countries ultimately. Actually, it means the wealth transfer from the private sectors to the public sectors, which often results in reduced efficiency. The public sectors should compete to offer good services to the domestic private sectors, instead of competing to keep other public sectors from providing productive services to the private sectors in their own countries.

Second, the new globalization should be compatible with the values of peace, development and cooperation. Globalization is not an end, but a tool or a means for human beings to move toward the community of common destiny of mankind, which is consistent with the foregoing values. In the world today, geopolitical risks are rising, regional hotspot issues keep flaring up, non-conventional security threats, particularly terrorism, refugee crisis, are spreading. Peace and stability in the Asia Pacific region is vital to the economic growth and integration of the countries in the region, including China. The new globalization must do well to the regional peace, development and cooperation. Relative formal and informal institutions about the new globalization should include the requirements for keeping regional stability and upholding the principle of good faith to solve the problem.

Third, the new globalization should promote integrating the development strategies of the countries along the Belt and Road. The new globalization is not only to sign a series of agreements about trade and investment liberalization or facilitation, but also to promote the utilization and upgrading of the agreements, according to the changing national strategies and practical requirements of civil societies.

Fourth, the new globalization should go beyond the narrow economic view, strengthen cultural exchange and build a friendly foundation of public opinion. “State-to-state relations thrive when there is friendship between the peoples.” In the process of the new globalization, countries should respect and learn from each other sincerely to achieve such a realm, “each has its own beauty, each praises for other's beauty, each shares with others its beauty, and the world will be blessed with harmony and unity.” If countries achieve the realm, they will not blame each other when facing challenges and difficulties, instead, they will work together to overcome the challenges and difficulties.