Effects of Globalization in China

Topics: Globalization, World Trade Organization, United Nations Pages: 4 (1351 words) Published: October 15, 2008
Effects of Globalization in China
When it comes to globalization people will ask some questions. What is globalization? It seems that people who know little about globalization are out of date and lag far behind modern trends. Simon Jeffery (2002) asserts that globalization is the mixing of cultural and economic influences from around the world that has been going on for the last five hundred years. With the development of the global market in China, globalization plays an important role that is undeniably because China has the fastest growing economy in the world. Globalization provides good conditions for expanding international exchanges and strengthening mutual communication between different countries. Although there are many facets to globalization, the increasing acceptance of this concept has resulted in a certain homogenization of views, both economic and political as well as in cultural systems, but most noticeably in economics. (Diane Perrons 2004)

The most obvious impact of globalization is as an economic phenomenon, the promotion of free trade in goods, both exports and imports, accompanied by the exchange of labour and services. China has a long history of trade, from the Han Dynasty onwards the Silk Road was the artery of communication which extended across continents as far as Rome itself, then the capital of a world empire. However, throughout the Ming and Qing dynasties China pursued a policy of economic protectionism, leading to a long period of isolation that was brought to an abrupt end with the Opium Wars. The resulting economic degradation enforced by the victorious British had such disastrous consequences for modern China that it was not until the advent of Deng Xiaoping and his reform and opening up policy that China’s development was accepted as inseparable from the outside world. (George T Crane 1999) In recent years the extent to which globalization has been gaining in popularity has increased at an amazing rate in China. The...
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