The Impacts Of Globalization In China

Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality. This then seems to be the essence of globalization - businesses

The world economy has improved rapidly as a result of globalization in past decades. However, many environmental problems began to emerge during the economic boom. Especially, in the middle of the 20th century after World War II, many countries restarted economic development and urban construction. At this time, severe air pollution influenced a number of regions. For instance, London was affected by a critical air pollution event, called the Great Smog of London, in December 1952. During a week, 4000 people had died as a direct result of smog and over 100000 were got ill by the human respiratory tract. Subsequently, from 1978 to now, China has seen a great amount of economic increase, with its gross domestic product (GDP) expanding hundreds time since the reform and opening up. Although China has obtained a huge progress with the globalization, it has resulted in a series of environmental problems at the same time. The aim of the essay is to discover how the globalization affected the environment on air pollution, soil pollution and biological invasion in China. And I intend to analyze the instances of the connection between air

Globalization is the process of the world becoming more connected. This process comes with major pros and some major cons. One country that suffers greatly from a negative consequence of globalization is China. China is currently suffering from air pollution. Air pollution has negative affects on both health and the environment. Although China is impacted negatively, the world impact overall, is positive.

Globalisation refers to the process of increased integration between different countries and economies and the increased impact of international influences on all aspects of life and economic activity. Since 1978, the Chinese “tiger” economy has embarked on a process of social and economic reform designed to improve the quality of life of the population and open the economy to global integration. These strategies designed to promote economic growth and development include the Five Year Plan, FDI and trade policy, microeconomic reforms, welfare policy, environmental policies and macroeconomic policies.

The purpose of this research report is to provide an overview of China’s economic growth in relation to the long term economic growth drivers. Critical assessment will be made on the growth drivers to determine whether they lead to long term economic growth.

Since the reform and opening up, the economy of China grows significantly, as an emerging economy, China's economy has made tremendous contributions to the global economy, and Renminbi has become one of the most important currency in the world. According to the survey conducted by China National Bureau of Statistics found that from 1979 to 2012, China has attained an annual average growth rate of 9.8% for its national economy, while the annual average growth of the world economy is only 2.8 % during the same period. In past 30 years, China's GDP surpassed Japan’s, China became the world 's second largest economy, in addition, the huge total volume of trade makes China become the world 's largest trading nation. The contribution of China’s

Nowadays, China has become the second largest economy in the world. The GDP (gross domestic product) of china was growing at 9.7% per year in average since 1978, which the year of Chinese “open door” politic founded. China also has become the biggest producer and consumer in many key agricultural and industrial markets and the largest FDI recipient among the developing countries. The performance of china in developing of economy is called “china’s economic miracle”, which be studied by many economists. However, there are also bad results with the development of economy in china such as environment disruption, corruption and

China has reached a milestone in terms of achieving its centenarian goal of making China a prosperous nation once again. One of the ways that it has done this is by having steady economic growth even in the midst of an economic crisis. Not only has China’s economy grown, but its standard of living has also improved, it has achieved this by spending 70 percent of its fiscal revenue towards improving people’s standard of living. China has also pushed more anti-corruption reforms and has made efforts towards widening its economy by setting up freer trade.

China economy experienced an incredible growth in the last few decades that made the country the 2nd largest economy in the world. When China started the program of economic reforms in 1978, it ranked 9th in nominal GDP but 35 years later it’s now ranked 2nd in the nominal GDP and been the world’s manufacturing hub. In recent years, China’s modernization propelled the tertiary sector and in 2013, it became the largest category of GDP with a share of 46.1%, while the secondary sector still accounted for a sizeable, 45% of the country’s total output. Meanwhile, the primary sector's weight in GDP has shrunk dramatically since the country opened up to the world.

Globalisation is the progression towards a growing assimilation between different countries in order to gain a single world market. It strongly encourages overseas trade, the removal or the reduction of trade barriers to increase economic growth and development. Globalisation ultimately presents to everyone a world which is increasingly liberalized and market-orientated. Associated with globalisation there is increased and intensified competition and greater interdependence among countries. In numerous ways China has taken this opportunity and used it to its full advantage which has enhanced economic growth and significantly improved

Globalization to China is both pros and cons because China is developing country. Economic globalization has made the contradiction between the ecological environment and sustainable development of developing countries increasingly acute.The entry of transnational capital increases the speculative and risk of financial markets, making it easy for short-term speculative capital to hit the weak domestic market in developing countries.Economic

China is a growing country; its population is about 1.4 billion, and as of 2014, the Chinese economy is the world’s second largest (in terms of nominal GDP,) totaling approximately US$10.380 trillion, with a growth rate of 7.4%, and the GDP per capita is US$3,619.4. From last century to this century, China has had significant improvements in their economic development. China had been in three major crises during the last century: the 20th century. The Fall of Qing Dynasty, World War II, and Civil War in China, all of them struck China in a destructive way. From the end of the 20th century, China was in a fast-developing mode.

Globalization is a process that refers to the increased integration between different countries and economies as well as the increased impact of international influences on all aspects of life and economic activity. Over the last 50 years, globalization has had a tremendous impact on the Chinese economy. The impacts brought forth by globalization can be both positive and negative and effect both economic performance, economic growth and the development of China’s economy. Globalization is the main factor responsible for China’s significant growth that has taken place over the last two decades. However, globalization itself is not entirely responsible. The Chinese economy has also implemented strategies which have been very effective in promoting economic growth and development. These strategies include the implantation of“Open door policy”, “Reformation” of China’s agricultural system and joining the World Trade Organisation.

There is a fierce competition for world dominance as China is poised to overtake the United States as the preeminent world power. China’s growing gross domestic product (GDP) rivals that of the US with economists predicting the Chinese economy will surpass that of the US by 2020 (Morrision, 2014; Strauss, 2013). In 2012, China had a GDP of $8.22 trillion (World Bank, 2014a) experiencing an annual average growth rate of 9.86% between 1999 and 2012 (World Bank, 2014b); whereas the US had a GDP of $16.24 trillion in 2012 (World Bank, 2014a) with an average growth rate of 2.15% from 1999 to 2012 (World Bank, 2014b). More than half of the GDP growth in the past decade can be attributed to labor income growth among college educated employees. Even during economic recession, income growth among college graduates had a positive effect on GDP (OECD, 2012).

Globalization is far reaching in this day and age. Globalization is the worldwide flow of goods, services, money, people, information, and culture. It leads to a greater interdependence and mutual awareness among the people of the world (Tischler, 2011, 2007, p. 430). One non-Western culture that has been impacted by globalization is China. An example of the impact of globalization on China is their economy. Since joining the World Trade Organization, China has transformed from a culture that relied on economic self-sufficiency and shunned the thought of globalization to an economy that is progressively more open to trade and foreign investment.