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From the Editors Since China adopted its reform and open-door policies in the late 1970s, the issue of globalization or internationalization has drawn increasing attention from the Chinese people. China's recent entry into the WTO provided another momentum for the discussion of such issue. What does globalization, if there is such a thing, mean for China? What are the implications of globalization? What can we gain by taking an international or global perspective when analyzing different reform strategies? These and other questions on globalization and internationalization have occupied, and will continue to occupy, much of the public discourse in China. In this issue of Perspectives, we are pleased to present you with four articles that directly address globalization-related issues. Under the "Political Theory and Practice" column, Dr. Junning Liu explores the implications of specific aspects of globalization--the WTO, PNTR and Internet--for China's political reform. Under the "Economics" column, Mr. Ronald Frashure and Dr. Charles Wang analyze the investment opportunities provided by the emerging markets, and Professor Ronald McKinnon discusses the evolution of the world dollar standard since World War II in the first part of his two-part treatment of the monetary consequences of globalization. Finally, under the "Society and Culture" column, Professor Lei Guang introduces what Andre Gunder Frank, a renowned historian, takes to be the truly globalist perspective. In addition to the above articles, we also publish an article by Dr. Qianli Wu under the "Economics" column, which discusses how convertible bonds, a popular financial instrument in international financial markets, can be introduced into China to help solve the problem of reducing state ownership of SOEs through the stock market. Under the "Society & Culture" column, Professor Xiaoli Zhao tells us two interesting stories about China's People's Tribunal and relates his stories to the long-term goals of China's judicial reform. We hope that you enjoy reading this issue of Perspectives and, as always, we welcome your comments, suggestions or article submissions. Best regards. The Editors |