Title: The Impact Of Globalization In China Economics Essay
Headings: The Impact Of Globalization In China Economics Essay
The Impact Of Globalization In China Economics Essay
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The Criticle Reflection on the Impact on China
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Content: As China is a major economy in the world, their main competitor which has another major economy is the USA. Globalization helps China to make a better use of foreign investment to promote the increase in their industrial construction. As Labour cost in China is very low respectively, it become very attractive to the foreign investment. The more consumption of labour, the faster they can speed up the high development of new technological industries, thus China’s industrial can compete internationally. Globalization also lead to the increase in the level of trades in China as subject prior to 1978. China’s trade has been conducted under the system of state where a foreign trade corporations monopolized all foreign trade. Under the planning regime, import has been minimized while exports authorized only for the extent to pay for the imports. In the last 20 years, the systems has been changed dramatically and China’s trade has expanded enormously, the increase in the share of the world trade. The foreign direct investments and transnational corporations (FDI and TNC’s) have been increasing very rapidly since the globalization and the opening of the markets and deregulation by Chinese economy. FDI and TNC encouraged in the modern agricultures, high tech industries, infrastructure and construction.