China Social Science Review

No.4, 2020

Economic Globalization under Domain Paradigm Thinking

(Abstract)

Jin Bei

An ideal state of economic globalization would display the micro macro paradigm of the American economy and advance it to the imagined world of a global economy. However, in reality, the world economy is not evolving toward a homogenized macroeconomy on a global scale, but rather increasingly possesses the domain economy characteristics of the new era. Economic integration based on economic globalization will not wipe out the plurality and diversity of the world economy. Given that countries differ in terms of their domain character and the corresponding systems and rules, economic globalization should value individual domain rules while putting in place coordinated arrangements for their alignment, so as to establish and maintain a world market order that is secure and unimpeded, has equal rules and recognizes differences.