Intensified Restructuring of the Global Industrial System and Remodeling the Competitive Advantage of Nations

Abstract

The global financial crisis of 2008 has profoundly changed global economic patterns. In response to the profound changes in the global economic environment and in order to position themselves for future economic development, all countries have engaged in significant industrial restructuring. This has led to a new round of industrial adjustment, transfer and upgrading, as well as profound adjustments in the modes of economic growth. It has also changed the pattern of international competition to some extent. Emerging economies in particular have exhibited “eye-catching” performance in overcoming the crisis, with robust economic recoveries and apparent enhancements of national competitiveness. In the current and forthcoming periods, global industrial upgrading will need more extensive technological support. Technical innovation is a key factor in enhancing the competitive advantage of nations. It will become an important driver for new and innovation modes of industrial development and global industrial benefit adjustments. All countries of the world should make timely adjustments to their economic structures, expedite innovations in industrial technology, and enhance core competencies so as to increase their international competitiveness.