Evaluate the Positive and Negative Effects of Globalization in China

Topics: Globalization, Economics, World Bank Pages: 3 (900 words) Published: July 7, 2013
Evaluate the positive and negative effects of globalization in China

Globalization, which is the process of enabling financial and investment markets to be operated widely and internationally, usually refers to the increasing global relationships of culture, people, and economic activities (Simon. J, 2002). It is generally used to represent economic globalization including the global distribution of the production of goods and services, through reduction of barriers to international trade such as export fees, and import quotas. “Globalization has become one of the most talked about debates of the past 10 years and as been the subject of numerous books and videos and the cause of many global demonstrations in most of the major cities all over the world” (Simon. J, 2002). This essay will first describe the background and situation of China with the effect of globalization. Then it will evaluate the positive and negative effects of globalization in China. Finally, there will be a conclusion about the globalization in China.

China has shocked the world over the last two decades with a rapid growth and globalization has played an key role during the period. Dauderstadt M, (2005) commented that China had become the world’s economic power-house but still needed years to become the world’s largest economy even though it already ranked second after the USA by being measured in purchasing power parity(PPP). However, before reform, China was a world’s well-known opponent of globalization. At that time, it opposed both global economic and political orders. Furthermore, it refused to cooperate with the major global institutions such as the IMF and the World Bank. Till 1966 when the Cultural Revolution happened, China started setting foot on the way to globalization. After carrying out the policy of reformation and opening under the guidance of Deng Xiaoping, China realised the necessity of globalization. Globalization has made a significant positive effect on China’s...
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