GLOBALIZATION AND CHINA

Impact of Globalization on China

Impact of Globalization on China

Introduction

Globalization as a term entered mainstream discussions in economics and political science from the mid-1990s onwards. Much of the focus on globalization has been on the flow of money and capital between countries, the changing role of governments vis-a-vis their citizenry, the increased movement and migration of individuals within and between countries, and the growth and expansion of multinational corporations and transnational organizations. For example, globalization is often associated with the growing power of the World Bank and the International Monetary Fund (Berger, & Huntington, 2002, 136-159).

Moreover, these entities have played a critical role in incorporating developing countries into the global market place by providing loans and encouraging entrepreneurial, open market activities. However, these organizations are often also associated with implementing Structural Adjustment Policies (SAPs) that due to a series of negotiated actions and activities, have led to a reduction in government services such as health and education in many developing countries. A serious disadvantage of the mainstream focus on the purely economic effects and challenges of globalization is that it ignores the social consequences of the process on families and communities (Ma, & Wang, 2010, 78-81).

Discussion

In economic terms, globalization means a process of increasing international Division of labor and thus integration of national economies through trade in goods and services, cross-border corporate finance and investments. Globalization goes beyond the simple international, as many economic agents are little more national in scope. There is a world standardization of products and production technologies. Economic globalization has three main features (WB, 2003): Foreign Trade (International Trade): An essential characteristic of globalization is the increasing share of imports in the domestic consumer goods and services gene associated with simultaneously increasing share of exports to the domestically produced goods and services (Berger, & Huntington, 2002, 136-159).

The People's Republic of China is with over 1.3 billion inhabitants the most populous country in the world. In terms of area, China is after Russia, Canada and USA is the fourth largest country in the world, the land adjacent to 14 states. The People's Republic of China, include Hong Kong and Macau, nearly 9.6 million square km in size. In and around the capital Beijing, about 17 million people live. In addition to Mandarin Chinese in the country, various dialects and minority languages ??are spoken (Allen, & Chakrabarti, 2009, 45-51).

At currently, Globalization is, along with democracy and neo-liberalism, the great fashionable paradigm of our times. Globalization cultural homogenization has allowed unprecedented worldwide, has opened the door to Western ideas like never before: advertising, information, news events that affect humanity and its environment, exchange bank, etc. There are local “McDonald's” from China, Smoked Lucky Strike in South Africa and in Saudi Arabia, the contemporary world has been extirpated from many elements that made ??every part of it unique. However, in exchange for standardization that allows in a few minutes to conduct a monetary transaction in a bank located in the Cayman Islands to another in Switzerland, run by a ...