Globalization in China

An increase in the process of Globalization in China has made almost all international investors invest in the country. This has led to continuous flow of foreign capital into China, boosting up its economic development to large extents. In fact, it is the active participation on the part of China in Economic Globalization that has actually improved its investment and financial climate.

Implication of Globalization in China:

The advent of Globalization in Chinese economy had been immensely beneficial in the sense that it brought along with it, numerous developmental opportunities as well as challenges for the nation in the economic spheres. In fact, these were the challenges, which once meted up, would take the national economy on the path of success and affluence. However, Economic Globalization in China was also accompanied by advantages and drawbacks as well. In fact, the formulation of appropriate strategies and policies on governmental level actually transformed most of the drawbacks of Globalization into advantageous and beneficial ones.

The process of transformation can be summed up as follows:

Innovation of methods suitable to the existing national conditions led China to progress on the path of economic affluence. Following this path, the nation today claims itself to be the 6th largest economy and the 5th largest commercial nation across the globe. With China acquiring economic prosperity, as many as 200 million people has been brought out of poverty.

Adoption of Open Economy on the part of China offered it access to both economic and social spheres of the developed and developing countries in the world.

Promotion of collaboration on regional levels consolidates the economic strength of the Chinese provinces, This mutual effort in turn, intensifies their abilities to resist and handle risky situations related to regional economy.

The advent of Globalization in Chinese Economy made the nation more alert towards all possible economic crises and risks. This really helped avoid financial emergencies and reconstitute, consolidate and stabilize the national economy.

Globalization of the Chinese Economy encourages the establishment of a fresh and rational economic order, involving systematic collaborations and regulations. It also emphasizes on the nation’s participation in worldwide economic trends to bring about prosperity in the life of the Chinese population.

Chinese Globalization and International Economy:

The contribution of China in world economy is not at all a one-way traffic, but interrelated. In fact, the Globalization of the Chinese economy has helped the East Asian economic conditions to revive and improve as well. According to a 2003 World Bank report, the economic conditions of East Asia increased by 6.7 % in 2002, from 5.5% in 2001, and the average regional growth in the economy showed potentiality of rising to 6% in the following 2 years.

Chinese Economic Globalization also provides the world with the largest rising economic market, generating more demand and encouraging extensive foreign trading activities. This development in turn, help the Chinese population to come out of the agonizing poverty, and become financially affluent.

Future Prospects of Economic Globalization in China:

The future of Chinese economy under Globalization shows immense potentialities of further economic growth and development and opening up for more opportunities. In fact, the Chinese commercial sector has taken up the challenge to face violent competitions both in national and international markets, and grow economically despite all impediments and shortcomings.