In light of the irreversible trend of economic globalization, Long Yongtu, former vice-minister of commerce and former secretary-general of the Boao Forum for Asia, and China’s onetime WTO chief negotiator, was still optimistic about the future amid concerns about the trade war the US has initiated against China, according to a report by Global Times.

The economic globalization has had its ups and downs, but it does not simply mean a reversal, he said. There are two reasons, he added. First, the science and technology are still playing a key role in driving the globalization forward. Second, big transnational corporations are still boosting globalization through global investment and forming global chain of production and supply chain.

In the context of deepening economic globalization, the US government's approach of relying on high tariffs and launching trade wars can hardly achieve the desired results; instead, it will impose restriction on their domestic industries for further development.