The New Industrial Revolution, Global Governance Reshaping and Multilateralism

Xie Fuzhan (谢伏瞻)
Chinese Academy of Social Sciences, Beijing, China

Abstract: Currently, a new industrial revolution characterized by artificial intelligence,the internet of things, and digitalization is in a critical transition from initiation to allaroundexpansion. While injecting new dynamism into global economic growth, and promoting inclusive development and human welfare, the new industrial revolution will
reshape the pattern of international competition, and provide a window period for latemoving countries to compete and catch up with developed nations. Amid the shocks of the new industrial revolution, countries must adhere to the principles of openness,multilateralism and reciprocity to share the dividends of the new industrial revolution and effectively cope with its challenges. Therefore, multilateralism, rather than protectionism
and unilateralism, should dominate the mainstream of change in future global governance.The reform of existing multilateral organizations such as the World Trade Organization (WTO) must proceed under the principle of multilateralism.

Keywords: the new industrial revolution, global governance, multilateralism, WTO reform
JEL Classification Codes: F01, F02, O30
DOI:1 0.19602/j .chinaeconomist.2019.11.01

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