(Correspondent: Lei Li, Guangzheng Jing) At noon on March 7, Nankai Institute of International Economics (IIE) held the first bi-week seminar of this semester in the conference room on the 12th floor of the School of Economics. This seminar is one of the series of activities of the Nankai Centennial Celebration. The theme is “The Seven Sins of the World Economy”: Insights on “Globalization Reverse”. The lecturer is the leader of the “Million Plan” philosophy and social science, and the “Yangtze Scholar” of the Ministry of Education, Distinguished Professor, Distinguished Professor of Nankai University, Professor Bin Sheng, Dean of the School of Economics of Nankai University. More than 60 teachers and students from the School of Economics attended this seminar.

Professor Bin Sheng first summarized the seven problems facing the world economy proposed in the works of Prof. Danny Roderick (a professor at Harvard University's Kennedy School of Government), namely: emphasize on global governance, efficiency improvement, free trade, welfare countries, manufacturing, single mode, and benefits, but neglect national policy, structural transformation, fair trade, innovation countries, service industry, multi-mode, and ideas. Prof. Sheng believes that the cause of the globalization reverse phenomenon roots in that the income distribution of developed countries such as the United States has deteriorated in recent years and has not been effectively curbed and resolved.

Professor Sheng also conducted an in-depth analysis of the causes of the deterioration of income distribution, and believed that trade (globalization) is indeed expanding its influence (especially since the 1990s), but trade is not the most important reason. Whereas, technological progress, excessive financialization, and improper domestic redistribution policies are factors that contribute to the deterioration of income distribution. However, globalization is easily blamed and attacked, and thus becomes a "scapegoat" to a large extent. According to the current "anti-globalization" trend of thought, Professor Sheng gave policy recommendation at last.

At the seminar, the presenter and the professors of the IIE held a lively discussion. Prof. Guoming Xian, Professor Cheng Zhang, Professor Ronglin Li, Professor Bing Yan, and Professor Bingzhan Shi spoke respectively on the development trend of the world economy, the status quo of global governance, and the current situation in China. The in-depth discussion sparked everyone's thinking and the meeting ended in a warm atmosphere.