Thanks to the strategic opportunity period for the international transfer of industries provided by the second economic globalization，especially the full participation in vertical specialized production and the construction of global value chains，the emerging economies of East Asia have achieved a transition from the geese model to the integration of East Asia Feiyue quickly shortened the gap with developed economies in the international competitiveness of manufacturing. It is precisely because of the underestimation of the potential for offshore producers to acquire knowledge spillovers，a considerable part of the market created by knowledge innovation in advanced economies represented by the United States has spilled over to emerging economies in East Asia，and has already damaged the innovation ecology of advanced economies. The completeness of the system jeopardizes the corresponding degree of innovation potential. Therefore，the United States requires that the original globalization strategy be adjusted in accordance with the principle of reciprocal responsibility and institutional convergence，trying to shift free trade from quasi-public products to club products，and realize knowledge spillover in clubs that follow common property rights protection and stakeholder governance rules. Redistribute within members. The adjustment of the US globalization strategy will inevitably greatly limit the ability of emerging East Asian economies as offshore producers to acquire knowledge spillovers from the world economy，forcing China to adopt a national development strategy of innovation and innovation to effectively enhance its own market creation capabilities. This article will mainly draw on the bilateral market analysis framework provided by Tirole （2017），straighten out the internal relationship between industrialization and informatization，reveal possible misunderstandings about the innovation of the two industries，and propose corresponding capital market development and investment strategies.