Ｗｈａｔ’ｓ Ｂｅｈｉｎｄ ｔｈｅ Ｈｙｐｅ ｏｆ Ｄｅｃｏｕｐｌｉｎｇ？

The meaning of decoupling

\"You either believe in decoupling or globalization--but not both\"， said Stephen Roach， an economist at Morgan Stanley. AND \"you can have both decou-pling and globalization at the same time\"，said an article in The Economist. How dif-fusing about the meaning of decoupling especially in the context of international finance crisis in which the developed countries can't hold the world together while the developing riecountries play a more increasing role in the arena of inter-national affairs! We can get a clearer look if we go back to see what happened in the past thirty years. The global economic landscape has shifted dramatically since the mid-1980s. There are two phenomena which attracted our attention. First， with the cost-downing and demand-increasing， there has been a rapid increase in interna-tional trade and financial linkages across national countries. Second， emerging economies have increasingly become major players in the world and they now account for about a quarter of world eco-nomic output every year and a more major driver of global growth due to industrial economies' slowing economic develop-ment.