Finally, the enormous technical progress made in transport, telecommunications and data processing have radically changed the international division of labour. However, the real momentum exerted by the process of globalisation can only be seen through the interaction of the various factors. At the same time the retention of national barriers has become more and more difficult technically and more and more expensive economically. 2.
We will adopt a mix of measures to advance the reform of the exchange rate regime in a gradual and steady manner. Reform and opening up has facilitated China’s integration into the world economy. At the same time, China’s contribution to the world economic development has been growing steadily. The Chinese people are well known for being hard working and frugal.