This document discusses the relationship between globalization and the creative economy and culture. It examines whether globalization is necessary for the creative economy through analyzing cultural trade and comparative advantage. While globalization increases cultural exchange, it can also lead to an unequal economic order with some nations having cultural trade surpluses and deficits. The document also analyzes concepts like cultural imperialism, glocalization, media capitals, and the potential for US-China coproductions to strengthen China's soft power and film industry over the medium term. It questions whether political, economic and cultural power will remain interconnected in a globalized world or become more divergent.