ABSTRACT
The first economic globalization, caused by the sharpened contradiction between the conservative and emerging powers, finally led to the two world wars. Learning from the lesson of ending of the first economic globalization, the international community managed to focus on world peace and development and avoided the outbreak of the third world war. The comprehensive national strength of Britain went from a prosperous start to a wane due to the hollowing-out of industries in Britain, whereas the United States of America and Germany got on a rise by seizing the golden time of economic globalization for economic growth. In the case of main developed countries unwilling to take more responsibility, while developing countries lack the say and governance capacity, China is playing an important role. China shall bear the responsibility of global public goods supply to match its own strength and promote global inclusive development.
