If Globalization 2.0 was, as Thomas Friedman has asserted, (Western) companies globalizing, Globalization 3.0 is non-Western forces globalizing. Globalization 3.0 looks more international, more cooperative and less one-sided. It is hoped to be a more peaceful and inclusive globalization. This changes the power balance between the global North and the global South. If there was any question that the face of globalization is changing, China’s dramatic One Belt One Road program reinforces the fact that Globalization 3.0 is here to stay.TripleCrisis
China’s One Belt One Road: Globalization 3.0
Sara Hsu | Assistant Professor of Economics at the State University of New York at New Paltz
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