Jonathan Rosenberg
Plan For Essays
1.Analyse the impact of globalization on an economy other than Australia.
Intro: Basic introduction explaining what globalization is. Mention that china will be the focus of the essay, that it is an economy in transition and its growing rapidly.
1st para: Mention China is a socialist economy ruled by a communist government. Explain that some new reforms have been put in place which are improving Chinas economic performance and are based of globalization. Thee reforms include 'open door' policy and tariff and other protection cuts.
2nd para: Explain 'open door' policy as being a policy which foreign trade and investment is encouraged. Special economic zones have been setup where incentives have been provided for foreign investment such as tax cuts, cheap labour, no import duties... because of this policy trade has grown from 10% of GDP to over 35%.
3rd para: Tariffs and other protections have been cut in 1992 to encourage greater domestic efficiency and competitiveness.
Gross domestic product growth in the advanced econ...
Developing countries excluding Least Developed Cou...
Components of economic growth (Saari 2006)These cuts also supported Chinas drive to attract foreign investment.
4th para: Globalization has caused Chinas economy to grow by over 10% each year. It joined the WTO which gave it better access to world export markets. This will see China achieve 3 important goals:
*Diversification of its export base
*Attracting more foreign investment into domestic economy
*Encourage more innovation and the use of technology in domestic economy
However by joining the WTO, China's unemployment will rise and structural change in domestic industries.
5th para: There are problems in Chinas domestic economy because of globalisation. It's caused social inequalities between rural and urban populations, political instability - a push for democracy
Conclusion: Globalisation has had negative and positive impact on Chinas economy. Mention that Chinas economy has the enormous potential to be a world power because...