GLT task 1

Topics: Globalization, World Trade Organization, International trade Pages: 4 (1163 words) Published: August 4, 2014
Globalization can be defined as the process of worldwide integration through the exchange of products, ideas, and other aspects of culture. Globalization increases the development of a global economy through free trade, free flow of capital, and cheap foreign labor markets. Globalization began with the settlement of new land. Communication and transportation advances have impacted this process. Globalization can have a positive or negative impact on a culture. It can positively impact a culture with economic growth, prosperity, and democratic freedom. On the other hand, globalization can leave a culture environmentally devastated, exploit their developing world, and suppress human rights. Two non-western cultures that have been greatly influenced by the impact of globalization include China and India.

Recent advances in technology have created a unified global marketplace for capital and labor. China is one of the largest manufacturers worldwide that have impacted globalization. It has increased China’s trade market which gives them foreign exchange but also allows other cultures some insight into China’s culture. In 1978, Deng Xiaoping established leadership of China. Unlike Mao Zedong, Xiaoping embraced globalization and demanded economic change that he believed would ensure the safety of communist rule. The Chinese government adopted a series of strategically significant policies that addressed the challenge of economic globalization. These policies included economic restructure, speeding up the development of a high technology sector, and transformation of economic growth with proper education and trade development. One policy addressed was the Open Door Policy in 1978 which granted China with equal trade from all countries. “Beginning in 1978, economic reforms cautiously increased China’s economic engagement with the rest of the world, resulting in unprecedented growth rates and pulling hundreds of millions of people out of poverty. The country still...
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