OECD Representative in China Sees Globalization Largely in Place

Global division of labor is still there and is still high, said the Senior Advisor to the Organization of Inter-governmental Cooperation and Development in China.

OECD Senior Adviser in China attends the roundtable discussion at the T-EDGE Conference.

OECD Senior Adviser in China attends the roundtable discussion at the T-EDGE Conference on Saturday

BEIJING, December 2 (TMTPOST) – Tamas Hajba, OECD Representative in China, said Saturday that there was no hard evidence for the occurance of de-globalization as a trend during a round-table panel discussion at the T-EDGE Conference.

“Our initial conclusion is that global division of labor is still there and is still high, " the senior official of the Organizaiton for Economic Cooperation and Development told hundreds of innovators, entrepreneurs and investors in Beijing. 

People often coin some terms to describe the situation, such as re-globalization, anti-globalization or de-globalization, commented the senior official, who is also OECD Senior Advisor for China Affairs. 

Hajib said the pace of globalization slowed down after the global financial crisis. Up to 2020, there were two or three decades when the production and value chain became longer and more complex, which was the golden age of globalization. The slowdown has caused some to doubt the trend of globalization.  

He noticed that in some countries like China and southeastern Asian countries, local sourcing in manufacturing has been strengthened over the year. “In European Union, there is nothing going in the direction of deglobalization,” he noted, adding that the value chain has remained fragmented and diversified, which is not in the direction of deglobalization at all.    

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