Effects of Globalization in China Research Paper

Effects of Globalization in China - Research Paper Example Due to increased practice of globalization values, the interaction between the countries has significantly increased and strong. None of the country could survive and prosper today without following the trend of globalization. The countries with great realization about the importance of adopting globalization are progressing significantly and experiencing positive changes within their economic and social scenarios. Globalization allows the countries to enter the world of free market, liberalized trade and market oriented businesses marked with intensified competition and great interdependence. Changed Brought by Globalization Today each and every country is experiencing the strong impacts of globalization in some way or another. The increased and strong interaction between the countries is making the economies of the involved countries stronger because they exchange technology, goods and capital and flourish their economic developments with the help of FDI and advanced technologies a ttained from the other countries (Fung et al, p102). ... p54). In order to cope with the changes and challenges pose by globalization it has become imperative for the countries all over the world to foster coordination and cooperation so that they could survive in the highly competitive market place of today and keep them aligned with the new rules and regulations of the global economy (Nolan, p52). The countries succeed to proceed with the strategies, planning and policies of integrated economy flourish in the new situation whereas the countries fail to integrate with the word economy lag behind the other countries. The changing scenario created by globalization is full of opportunities as well as challenges for the countries across the globe (Guthrie, p54). The Chinese Experience Located in the Asian continent Chine is the highest populated country of the world. The country is experiencing the fastest pace of economic growth that is mainly backed by globalization. With no exception China has also experienced major changes within its econ omic landscape after the evolution of globalization. Cross border trade was practiced by China several centuries ago when trade took place between Han Chinese and their neighbours through the Silk Route. China opened its door for the European trade since the Portuguese established ports in Macao during th sixteenth century (Scupin, p325). The impacts of globalization upon China could be traced in accordance with different aspects of economic activities like foreign trade, finance, environment, lifestyles and quality of life (Guthrie, p54). Chine has shown great awareness towards the importance of globalization. It has learnt that the long history of isolation gave it nothing but backwardness and after this realization there are