How Globalization Affects The Country

Globalization was established in 1942 (O’Rourke 1). Globalization is the creation of international rules by governments and corporations in order to facilitate and regulate trade between nations (The Phenomenon 1). Globalization has left many positive and negative affects on the world, but more positive than negative effects have been left on the United States.

We live in a time of worldwide change. What happens in one part of the world impacts people on the other side of the world. People around the world are influenced by common developments.

After taking Seminar in the Global Economic Issues and doing research about how globalization affected China’s regional income inequality, I realized the international economy was the economic field that I was really interested in and wanted to pursue further study in graduate school. The experience of growing up in China to really observe and feel how it entered the world market and developed its economy made me realize the importance of globalization for developing countries. Also, the experience of volunteering in Nepal made me thinking of the possibility to duplicate the success of China’s transformation to other developing countries through globalization.

For more than two decades under the communist rule of Mao Zedong, China’s economy was in a stagnant state, but now it is known to have the world’s fastest growing economy. In fact China is currently undergoing what is being described as a second industrial revolution. According to the international monetary fund, China became the world’s

Almost two decades later, it looks like this unipolar moment is coming to an end. America still has the world’s largest economy, but China is catching up fast. Even if China’s growth slows – as seems likely, if only because such spectacular wealth creation has to slow at some point -- it is still likely to

Ever since the initiations market reforms in 1978, China has over time turned from the common central-planned economy to market based economy contributing to it experiencing rapid economic as well as social development. China’s GDP growth index averaging close to ten percent annually has promoted 500 million and above people out of abject poverty. Recent reports suggests that China has realized almost all of its Millennium Development Goals or at within realization. The state’s population has hit 1.3 billion making it the second biggest economy and is progressively playing a significant and prominent role in the world’s economy. A keen interest into China’s economy along with the political impacts on its economy will be the focus of this paper.

In this case study, we will attempt to answer what measures China took in preparation for acceptance into the WTO and how it adjusted to its eventual admittance in December of 2001. We will also review some of the problems associated with China’s economic growth strategy.

The article chosen is an informative demonstration of how China has emerged as a leading economic power. In just a few short years China has managed to position itself as a manufacturing leader in many of the industries that are most heavily needed by the other nations throughout the world. How China has done this is a remarkable story and provides a compelling reason for choosing an article about their success as a topic for this paper. The article not only highlights China's success but also provides insight into how China is becoming a partner in the world economy much like the United States did in the 50s and 60s and how readily the rest of the world is accepting China's participation.

Globalization has affected every aspect of the business community in one way or another. Globalization in a simple sense is a business’s movement from one country to another. This is done for a number of reasons; amount of readily available resources, labor market, increased number of customers, and to ultimately become more profitable. There is a decisive advantage for a business to move overseas, but there are a number of drawbacks globalization creates on the local economy. When businesses become an international entity the home country experiences increased unemployment rates, the human resource department now has to manage across borders, prices of goods fluctuate, and forcing wages to decrease for unskilled workers and increase

Nowadays, the outlook of the global economy is clearly not optimistic, and there are so many severe issues have been plaguing the world economy in recent years. Such as potential asset bubbles, higher financial market volatility, weaker global demand, and deteriorating monetary and credit crisis, and falling of oil prices, and so on a series of troubles around the world. (World Economic Situation and Prospects 2016 2016)Once when we discuss and analyse those economic problems, it is inevitable to associate with China’s slowdown. Indeed, since China entered WTO, China takes advantages of large population to develop the labour intensive industries like manufacturing to expand the relationship with the world by frequently international trade, as greater interaction and stronger cooperation between China and the world, Chinese economy is merged to the world economy and become an integral part of the global economy. Therefore, the Chinese slowdown is bound to affect the growth of world economy. So the question arises, why China slows down its economy? If exploring further to figure out why, one factor which cannot be ignored is the declining export. (China’s Export Decline Accelerates 2016) Thus, the study I concentrate on is to investigate the reasons of declining export in Chinese international trade.

Across the world, globalization is one of the most significant aspects that has occurred over the last fifty years. It allows a country to integrate economically with other countries through a global network comprised of people, trade, and transportation. With the global landscape only becoming more intertwined, globalization and its inherent pros and cons seem to be here to stay. In many areas, global powers tend to lack in rectifying the negative aspects and only focus on the positive side. America, for example, is a leader in the globalization efforts, even though it has greatly effected job opportunities at home, widening income gaps, and an increased standard of living due to fluctuating world markets.

Jan Aart Scholte states that ‘Some people have associated globalization with progress, prosperity and peace. For others, however, the word has conjured up deprivation, disaster and doom.’ Globalization is truly a complex phenomenon. It indicates that the world today is getting smaller because people from all around the world are interconnect than before. Globalization is driven by a combination of economic, technological, sociocultural, and political factors. In this paper I will discuss the impact of globalization on society: at social, cultural, economic and political level. (Kivisto) (Viswanathan) (Pacific) (R.)

Globalization can be described as the interaction and integration among the people, companies, and governments of different nations (http://www.globalization101.org/what-is-globalization/). For the past century, there have been countless debates over whether the effects of globalization are positive or negative. The topic of globalization is seen as one of the most debatable topics in our current society and is often discussed during political debates before elections. This paper will focus on the negative effects of globalization and the chaotic impact it can have on countries across the globe. Globalization is one of the main causes of the spread of infectious diseases that can often lead to fatal outcomes and a sense of fear felt throughout an entire nation. Infectious diseases are the leading cause of death among children and adolescents, and are one of the leading causes of death among adults (Infectious disease: a persistent threat). Examples of these infectious diseases that became widespread due to globalization include: the Bubonic Plague, Measles, Smallpox, Malaria, Tuberculosis, and most recently, the Ebola virus of 2014. All of these diseases were direct results of globalization, caused millions of deaths, and established a state of panic within the countries affected.

Globalization is a phenomenon involving the integration of ideas circulating worldwide, connecting people from everywhere (Friedman). Globalization affects everything, but most importantly it impacts our own cultures. Culture is the way that groups of people act, believe, and live. This is crucial to life because without culture, we wouldn’t be unique. Cultures are linked together through globalization because globalization can spread cultures worldwide, altering them in the process. Globalization is something that has existed on throughout history, still in our everyday lives. To give some background, America embodies ideas of opportunity, freedom, and a land of promise. America promotes these values and ideas because it creates a strong and unified country. It even influences other territories to follow the successfulness of the U.S. acquiring freedom from Great Britain. Likewise, America is one of the world’s leading superpowers so people either aspire to be like Americans or fear and fight them. This leads into the significance of perspectives because some outside areas may envision America as glorious or as a force they must oppose and rebel against. These areas make judgements on America based on their values/beliefs or in other words their culture. Due to this, some areas may be bias towards America, creating contention because America sees themselves as helpful when other countries/areas strongly agree with them or strongly disagree. This is also part of the reason

Globalization and the use of new technologies and how it strengthens or weakens global inequalities