Globalisation is a process that refers to the increased integration between different countries and economies as well as the increased impact of international influences on all aspects of life and economic activity. Over the last 50 years, globalisation has had a tremendous impact on the Chinese economy. The impacts brought forth by globalisation can be both positive and negative and effect both economic performance, economic growth and the development of China’s economy. Globalisation is the main factor responsible for China’s significant growth that has taken place over the last two decades. However, globalisation itself is not entirely responsible. The Chinese economy has also implemented strategies which have been very effective in promoting economic growth and development. These strategies include the implantation of“Open door policy”, “Reformation” of China’s agricultural system and joining the World Trade Organisation. The impact of globalisation on the Chinese economy can be seen through the increase in economic performance. Over the last two decades, the Chinese economy has experienced significant economic growth due to globalisation. Globalisation is responsible for reducing the barriers to trade and increasing the integration between different countries and economies. The reduction of trade barriers as well as the increased integration between different countries and economies resulted in an increase in foreign investment and international trading which leads to economic growth. China has experienced significant increases in international trading and investment flows. This is supported by the world bank which states that in 2010, China contributed 13.6% to global growth and was responsible for approximately 9.4% of W... ... middle of paper ... ...ountries/profiles/CHN.html>. [30/10/13] [3]National Bureau of Statistics China Available from [17/11/13] [4]Air pollution costs china $112 billion dollars. Available from [17/11/13] [5]China’s pollution so bad it causes 8 year-old to develop lung cancer. Available from [17/11/13] [6]China Struggles to Bridge Gap Between Rich, Poor. Available from [30/10/13] [7]Socialist market economy helps China's economic development. Available from [31/10/13]
Globalisation, in the simplest sense, is economic integration between countries and is represented by the fact that national resources are now becoming mobile in the international market. Globalisation sees: an increase in trade of goods & services through the reduction of trade barriers; an increase in financial flows through the deregulation of financial institutions and markets and floating of currency; an increase in labour
Fan, G., and X. Zhang. "How Can Developing Countries Benefit from Globalization: The Case of China." Eldis. N.p., n.d. Web. 20 Apr. 2014.
Is the lifestyle of people in Europe and the USA a major cause of China’s environmental problems?
American writer and political analyst, Michael Auslin argumentative essay “The Filth They Breathe in China” (January 11, 2017) argues China’s air quality is harmful and extremely dangerous to the people of China and their environment. Auslin conveys his argument through logos, pathos and imagery. Auslin’s purpose is to illustrate to his readers China’s economic growth destroying its environment. Auslins strengthens his overall point by adopting a convincing tone for readers with a concern for the environment.
Globalization has caused the world to change. Our country, China has been dramatically changed by globalization. Our people have moved to cities, and our industry has exploded. We have had huge advances in technology along with education improvement. Despite the fact that China has changed so much, there are still many issues that plague it. China faces serious environmental concerns. New diseases and viruses that are not indigenous to China can cause a wide range of sickness in the new area. Despite some of the the improvements in China that are a result of globalization, the negatives that globalization has brought to China are more than the benefits.
Nowadays, Globalization is a main trend for the world economic. The world’s economy has become fully integrated. There are no barriers and borders to trade around the world.
by a world power can be felt by practically every nation of the globe involved
Wong, Edward. "China’s Plan to Curb Air Pollution Sets Limits on Coal Use and Vehicles." 12 September 2013. New York Times. 18 November 2013.
Globalization has brought Chinese companies with four significant opportunities to do business. The first opportunity is the reduction of manufacturing costs, which are mainly caused by scale economy (Bird & Rajan 2001). According to Hitt, Ireland & Hoskisson (2007), the concept of scale economy is that a firm’s unit cost decreases as the output increases. Because globalization leads Chinese companies to expand worldwide, they produce more output and manufacture under the economies of scale. Therefore, the companies’ manufacturing costs could be declined. The next positive aspect of globalization is the improvement of product quality because of the widespread transfers of foreign technologies. One typical example provided by Farug (2010) is that Chinese Sport Utility Vehicle (SUV) producers are now taking full advantages of technology transfers so as to enhance their automobiles’ quality. The third helpful effect is that globalization provides companies an access to external financing through the international financial market. As a result, they can achieve efficient capital manageme...
However, the impact it has made on China can be considered to be great as it brought China under the limelight in the global economy. Globalization has had many positive and negative ramifications on the Chinese economy. In the short run, it may be so that the negative impacts outweigh the positive impacts, but that is easily debatable. This is because all the negative impacts of globalization can be corrected with economic policies that can be efficiently undertaken by the Chinese government. In this manner, China in overall will be able to enjoy all the benefits of globalization and contribute more to the rest of the world as it continues to grow economically and socially. In today’s world, globalization is an important part of the development and prosperity of each nation and China too should be able to reap from its benefits. Today, as China proudly holds a place in the global economy as the world’s second largest economy and most populated country in the world, it can be said
(2009) illustrated China’s economic growth is shifting from a predominantly agriculture to a growing share of industrial and service sector. For example, in Beijing; China’s capital city has proved that many urban dwellers achieved a good quality of life. Consequently, the authors believe that the ability to construct sustainable social development in the communities is a key challenge for China. Likewise, Mittleman (2000) explains that globalization is not a single and unified phenomenon, but a syndrome of process and activities. In addition, globalization offers major benefits, including gains in productivity, technological advances, higher standards of living, more jobs, access to broader consumer products, low cost, dissemination of information and knowledge and reduction from poverty etc. Adversely, globalization has downside implications such as various cultural losses, rise of new hybrid forms of traditions, and additional socioeconomic shortcomings.
From the 1970s, there has been a wave of liberalization in China, which was introduced by Deng Xiaoping. This is one of the key reasons to the rise of China to be one of the economic giants in the world. In the last 25 years of the century, the Chinese economy has had massive economic growth, which has been 9.5 percent on a yearly basis. This has been of great significance of the country since it quadrupled the gross domestic product (GDP) of the country thus leading to saving of 400 million of their citizens from the threats of poverty. In the late 1970s, China was ranked twentieth in terms of trade volumes in the whole world as well as being predicted to be the world’s top nation concerning trading activities (Kaplan, 53). This further predicted the country to record the highest GDP growth in the whole world.
We all know that the foreign investment is a necessary part of global expansion. Many developed countries prefer to invest developing countries. For instance, the US has invested much more fund in China. Since the initiation of its market reforms in the 1980’s. China has been a preeminent recipient of foreign direct investment (FDI). Until 2011, there is over $1.2 trillion have been invest in China as foreign direct investment, it made Chinese industries has been transformation, and contributed enormously to the nation’s industrial output. In addition, the more foreign manufactures, the more Chinese subsidiaries have dominated (Wei, Xiao & Yuan, 2014).
Globalisation is a broad term that is often defined in economic factors alone. The Dictionary at merriam-webster.com describes globalisation as “the process of enabling financial markets to operate internationally, largely as a result of deregulation and improved communication.” Also due to deregulation on the financial market, multi-national companies are free to trade and move their businesses to areas where a higher return or profit can be achieved. New technology also enables companies to relocate to areas where labour costs are lower, for instance movement of call centre jobs from the UK to India.
Globalisation is a very complex term with various definitions, in business terms, “globalization describes the increasingly global nature of markets, the tendency for transnational businesses to configure their business activities on a worldwide basis, and to co-ordinate and integrate their strategies and operations across national boundaries” (Stonehouse, Campbell, Hamill and Purdie, 2004, p. 5).