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    Economic globalization, global financial crisis and China: A financial geography perspective
    WANG Xiaoyang,MENG Ke
    PROGRESS IN GEOGRAPHY    2019, 38 (10): 1482-1489.   DOI: 10.18306/dlkxjz.2019.10.004
    Abstract960)   HTML37)    PDF (990KB)(573)      

    The impact of the 2008-2009 global financial crisis on Western developed countries, especially the Anglo-American economies, is far-reaching and is reflected on economic, political, and social dimensions. A large body of scholars from various disciplines has attempted to explain the outbreak of the financial crisis. This study analyzed the relationship between economic globalization and the global financial crisis, and explored the impact of the crisis on China from a financial geography perspective. First, this study examined the formation of a new international labor division in the context of economic globalization, identified the transmission dynamics of the financial crisis, and mapped the changing geographies of world economies shaped by the financial crisis. With regard to China, the global financial crisis was external. The economic recession and consumption contraction of Western developed countries have directly affected China's exports, but the financial crisis has not fundamentally affected China's financial system. Second, the article explains why the global financial crisis did not impact China's financial system. The spatial heterogeneity of institutions, the varieties of market economic systems, the government's positive role and control, and China's banking-dominant financial system were all important contributors. Third, the interests of Chinese and international financial geographers on China have gradually increased in the last decade and this article summarizes the latest research progress and identifies the shortcomings of the existing research. Finally, based on the research progress of Western financial geography, this article puts forward some suggestions for the construction of China's financial geography in the future.

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    From global production network to global financial network: A new framework for understanding global-local economic linkages
    PAN Fenghua,FANG Cheng
    PROGRESS IN GEOGRAPHY    2019, 38 (10): 1473-1481.   DOI: 10.18306/dlkxjz.2019.10.003
    Abstract868)   HTML25)    PDF (770KB)(403)      

    The new international division of labor brought about by globalization has made the global production network (GPN) an important framework for the study of global economic and regional development. At the same time, the status of finance in the operation of modern social economic systems is increasing. Economic financialization has a significant impact on the spatial distribution and network of economic activities at different scales in the world. Therefore, finance has become the necessary basis of production activities in GPN. More importantly, the logic brought by financialization has profoundly affected the operation and change of GPN. Although GPN research has been paying attention to the role of finance and has begun to study the GPN of financial industry, inadequacies still exist. As increasingly more firms are integrated into the global capital market by obtaining international equity investment or listing in overseas capital market, it is difficult for the GPN framework to thoroughly analyze this phenomenon. Global financial Network (GFN) provides a new framework for describing and analyzing this process. In this analytical framework, local economies connect with world cities (international financial centers) and offshore financial jurisdictions through advanced business service (ABS) firms, thus forming GFN. This article first introduced the basic concept of GFN, including its main entities and network structure. Then we discussed the ways and further influences for cities or regions to integrate into GFN, focusing on the global-local economic linkages built by this process. Finally, we put forward the direction of further theoretical and empirical research of GFN in the future.

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    Concept and research framework of greening global value chain
    SHEN Jing,CAO Yuanyuan
    PROGRESS IN GEOGRAPHY    2019, 38 (10): 1462-1472.   DOI: 10.18306/dlkxjz.2019.10.002
    Abstract766)   HTML15)    PDF (3242KB)(310)      

    With the deepening of the global division of labor and widespread attention to environmental issues, the research framework of global value chain has become an important tool for Western academia to study cross-regional, global-local linkages and environmental power game in environmental issues. Through a review of the existing literature, this article introduces the greening of industries into the analytical framework of global value chain. The concept of greening global value chain is summarized as follows: the green processing on multinational production networks including raw material purchasing, production, sale, transportation, and recycling with a focus on the redistribution of environmental value. Then the research framework of greening global value chain was preliminarily constructed, including the driving mechanism of greening global value chain, the greening of management in different governance modes of global value chain, and the greening industrial upgrading of local economic entities. The following research areas are proposed: the mechanism of interactions among actors who drive the greening global value chain, regulation of governance network on greening global value chain, the environmental impact assessment of greening industrial upgrading and greening global value chain, among others. Different themes and characteristics of researches on greening global value chain are also identifies for the regional, national, and global scales. Finally, topics of future research on greening global value chain are suggested: the definition of the power relationship among actors, the model of greening governance, and the greening production network at the global scale. The purpose of this article is to provide a theoretical basis for the analysis of environmental problems in the global value chain.

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    A review of global-local interactions for regional development
    MAO Xiyan, HE Canfei
    PROGRESS IN GEOGRAPHY    2019, 38 (10): 1449-1461.   DOI: 10.18306/dlkxjz.2019.10.001
    Abstract997)   HTML48)    PDF (1500KB)(590)      

    Extra-regional linkages can benefit regional development by introducing supplement resources and technologies. They also enrich the local knowledge base, keeping regions away from depression due to lock-in effects. Global-local interaction (GLI) research represents the academic effort to theorize this process by examining the interplay between a wide array of actors at multi-scales within particular territorial confines. It raises four critical questions regarding the conditions, regional differences, channels, and actors for interaction. The literature has documented that the relatedness between local and nonlocal inputs determines the probability of GLI. Local capabilities determine the extent of GLI. The literature also reveals that the leading and most lagging behind regions tend to benefit from GLI. Knowledge diffusion, foreign investment, and international trade are primary elements that support GLI. As one region continues to develop, the immigrants and nonlocal institutions may enrich the GLI. Conventionally, the literature on GLI is firm-centric. Recent advances highlight the role of individuals, such as entrepreneurs and employees. There is also increasing awareness of the non-economic agency, especially the institutional agency. Overall, an in-depth examination is still required for understanding the scales, dynamics, and agencies of GLI for regional development. Grounded in the context of China's regional restructuring and opening-up, this study proposes a framework to model GLI in China and discusses its potential for future studies.

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    Prosumer in globalization: A systematic review on the sustainability of distributed production system
    TONG Xin,CAI Yifan
    PROGRESS IN GEOGRAPHY    2019, 38 (10): 1490-1500.   DOI: 10.18306/dlkxjz.2019.10.005
    Abstract656)   HTML16)    PDF (1435KB)(273)      

    With globalization, increasing specialization and spatial division of labor created longer distance between production and consumption. Consumerism became the driving force for the growth of production, and hindered the sustainability transition of local production system. Recent technological advances in 3D printing, intelligent micro grid, renewable energy, and so on have been expected to improve the possibility for a more distributed organization of production, which involves dispersed individual decision makers who are both producers and consumers in the production system. A systematic literature review was conducted on recent research on the sustainability of the distributed production system. With a focus on the relation between consumption and production, selected articles addressing the role of prosumers in the distributed production system from three leading academic journals on this topic were studied. Four interrelated dimensions were identified, including geographical implications, technology transition, market/collaboration mechanism, and sustainability. In conclusion, the sustainability performance of the distributed production system will be highly dependent on the interactions between the other three dimensions. Especially, a more close relation between consumption and production at the local level in the distributed production system can hardly be isolated from the global system. We call for more empirical studies on the restructuring of global-local relations within such sustainability transition.

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