How Has Globalisation Changed China?

Giddens, G defines that “globalisation as a decoupling of space and time, emphasising that with instantaneous communications, knowledge and culture can be shared around the world simultaneously.” Economic globalisation is not a new phrase to the Chinese people. Since china carried out reform and opening policies in the year of 1978, the market of china has been opened to the outside and began to paving the way toward economic globalisation. As time goes on, it seems that China has been changed a lot due to economic golobalisation. This essay will argue that both positive and negative aspects of globalisation to China.

Because of economic globalization, china joined WTO which contributes to the development of china’s economy. Firstly, it provides a platform for Chinese companies doing business abroad and could create lots of business opportunities and profits to those companies, which will bring new job opportunities and technologies to china. Secondly, it offers a larger market and more customers than ever before to Chinese companies, low cost of Chinese products such as shoes and textile will lead to a great amount of exports and finally promote the whole china’s development of economy.

However, economic globalisation also brings some problems to china. Many famous foreign companies also enter into china’s economic market that bring strong competition to local companies and now seems to be a threat to these companies. For example, with more and more foreign cars enter into Chinese automobile market, the favorable prices and modern types are more attractive to Chinese customers, it leads to an enormous reduce of sales volume for local car manufactories. Economic globlisation leads to a new situation of coexistence between local and foreign companies in Chinese market which will challenge China’s previous economic policies.

To conclude, economic globalisation would bring both advantage and bad disadvantage to china. However, China can gain more benefit from economic globalization in long term, it is to be hoped that Chinese local company could absorb foreign company’s advanced knowledge and technology and also adjust their products to meet customers’ needs.

Bibliography

Giddens, G (2002) what is globalization? Available from http://www.globalisationguide.org/01.html