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1、文献翻译原文ECONOMICGLOBALIZATIONFROMABROADER,LONG-TERMPERSPECTIVE:SOMEQUESTIONSANDCONCERNSBYH.J.WITTEVEENKeywords:globalization,capitalflows,IMF,spiritualvalues1INTRODUCTIONEconomicglobalizationwhichisincreasinglycharacteristicoftheglobalsituationisthefinalstag
2、eofagrowthprocesswichhastakentwocenturies.Duringthe19thcentury,theworldeconomygraduallybecamemoreintegratedthroughinternationaltradeandcapitalmovements.TheMay1997WorldEconomicOutlookpublishedbytheIMFgivesaclearanddetaileddescriptionofthisprocess.Fromthem
3、id-19thcenturyuntil1914,worldtradeexpandedmorerapidlythanrealoutput:3.5%against2.7%.Thiswasaconsequenceofareductionineffectiveimportduties,which,onaverage,camedownfrom15%to5%,andofgreatlyreducedtransportcosts~IMF~1997!,p.112!.TheFirstWorldWarandthesubseq
4、uentdepressionofthe1930smeantaseriousset-backtothisintegrationprocess.ItwasonlyaftertheSecondWorldWarthatthecreationofGATTandthesuccessivetariffroundsorganizedbythisinstitutionsettheintegrationprocessmovingagain,anditwasonlyby1970thattheshareofexportsinw
5、orldoutputagainreachedthepeakof1913.CapitalmovementswerealsoveryimportantinthefiftyyearsbeforetheFirstWorldWar.CapitalflowsforsomeselectivecountrieswereevenlargerasapercentageofGDPthanaftertheSecondWorldWar.Butafterthe1970s,asaresultofthedismantlingofcapit
6、alcontrols,thedispersionofrealinterestratesagainbecamesolowthatcapitalmarketswereclearlylinkedtogether.Inlightofthislong-termviewwemayaskwhatissospecialaboutrecentdevelopments.Havenewfactorsemergedwhichwarranttheuseoftheterm‘globalization’andalltheattent
7、ionfocusedonit~IMF~1997!,pp.45–46!?TheIMFmentionsseveralfactors:1Newtechnologicaladvanceshavereducedtransportcostsandtelecommunicationandcomputercostssostronglythatnationalmarketscanbeintegratedmoreeasilyatagloballevel.Thus,ithasbecomemoreefficientforsom
8、efirmstolocatedifferentphasesoftheproductionprocessindifferentpartsoftheworld.Forexample,thecostsofathreeminutetelephonecallNewYork-Londonhascomedownfrom$188,50in1970to$3,50now.Andpricesofcomputershavecomedownmuchmoresharpl
