Economic globalization can bring substantial benefits to all of humanity. This is because it will play a significant role in driving the optimal allo… - Ren Zhengfei

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Economic globalization can bring substantial benefits to all of humanity. This is because it will play a significant role in driving the optimal allocation of resources and reduction of service cost, thereby accelerating the pace of social progress. Economic globalization was a concept put forward by Western countries. Their guiding principle was to allow the West to trade their advanced technology and equipment for developing countries' raw materials and cost-efficient labor forces. This enabled global trade. But the West did not expect that developing countries would slowly begin to move up the value chain with production of low-end products.