Globalization And International Trade Has Been An Integral Part Of Our Life Starting From The Foods

Best Essays

Globalization in economy and international trade has been an integral part of our life starting from the foods we take daily to the electronics and vehicles that we use every day. The worldwide economic globalization makes it impossible for countries not to depend on one another. It is established on the mutual supplies for each other with the products or services that they don’t have of their own. Economic globalization enables individuals to use goods from various part of the world without travelling to those countries they are made through imports and exports.
Part 1
I believe “made in China” are common letters that you could find on the labels of clothes, Toys, shoes and all other necessities that you could find. Moreover, the office equipment including laptops and mobile phones are also part of the “made in China”. It will not be an exaggeration if someone joke: ”isn’t everything made in China?” . If we look at the recent data, we will find out that China is one of the largest exporting countries in the past decades.
As it is known to everyone that China belongs to Communism in which most property resources are owned by the government and economic decisions are made by a central government body. Yet, since the adoption of the open door policy since 1989, China had completed a perfect transit from absolutely closed economy to an open one. Followed by the joining into WTO, a significant reduction of its trade barriers enables china to be more connected to

Get Access
Get Access