Globalization, regional cooperation

The in-depth development of economic globalization has made economic ties and interdependence between countries even closer, boosting the sustained growth of world economy, and benefiting many countries.

The Doha Round of talks of the World Trade Organization, aimed at furthering global trade, remained deadlocked this year. However, the financial summit and the 16th Leaders' Meeting of APEC in November sent out a strong signal for boosting the talks and gave them fresh impetus.

Yet, economic globalization has not been plain sailing this year.

Some developed nations, out of their selfish interest, asked too much of their developing counterparts, leaving the Doha Round of trade talks in an impasse.

After the outbreak of financial crisis, trade protectionism gained ground in some developed nations. However, economic globalization will continue despite twists and turns, as it is the inevitable outcome that corresponds to the development of productive forces of today's world, and constitutes the general trend of world economic growth.

It is hoped that developed nations would establish an equal, mutually-beneficial and win-win partnership with developing nations, so as to advance economic globalization toward balanced development, shared benefits and win-win progress.

Regional integration is another highlight in 2008, with regional and sub-regional cooperation further strengthened.

The EU continued to boost the process of its integration. Except Ireland, the Czech Republic and Poland, all EU member nations have ratified the Lisbon Treaty, signed by EU heads of state and government in December 2007 and designed to reform EU institutions and streamline decision-making in the ever-enlarging union.

A charter of the Association of Southeast Asian Nations (ASEAN), which was ratified by parliaments of 10 members of the regional bloc and formally entered into force on Dec. 15, clearly set the strategic goal of setting up an ASEAN community.

In Africa, the Southern African Development Community (SADC) inaugurated a free trade area in August.

In October, the SADC and two other regional blocs, the East African Community and the Common Market for Eastern and Southern Africa, held a summit in the Ugandan capital of Kampala to discuss Africa's economic integration.