The impact of globalization on China
The impact of globalization on China
Introduction
The word "globalization", which is known by most people all over the world, shows that the activities of economy, politics, technology and culture between country and country are becoming increasingly frequent and borderless. Globalization is actually a double-edged sword. It can bring people harms, as well as benefits.
China, the country that had a poor situation about thirty years ago, has been largely growing its political and economic power over the world. Guthrie (2009) reports that China just took twenty-five years to finish economic achievements, which equates to more than fifty years' work of many developing countries. This phenomenon is a result of globalization. It is China's economic reforms (also called the reform and opening-up policy) after 1979 that changed its economic situation (Guthrie, 2009). These reforms allowed China to participate in the global activities. However, there is still a controvery about whether globalization is good for China.
Gross domestic product growth in the advanced econ...
Shanghai Stock Exchange
China, Shibangou Bridge underpass, Fuling, Yan...Most people think that China benefits from globalization, but some argue that although China did have great economic improvements, globalization has brought a succession of big challenges to China, which has a huge population. This paper will argue that globalization is indeed beneficial for China (especially its economic development) by comparing the advantages of globalization with the challenges, and will also discuss how Chinese government deals with the problems in order to further demonstrate the disadvantages of globalization can be lessened.
Economic improvement related to globalization
The increase of China's post-reform economy can be shown by a range of factors. Firstly, compared with the pre-form period, the post-reform time in China has a great achievement in Gross Domestic Product (GDP). The economy of the pre-reform period lacked the abilities to appropriately distribute resources and to efficiently use technology.