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How did globalisation develop in China? (Development (ADVANTAGE:…
How did globalisation develop in China?
Early age development
In order to gain alliance, the emperor sent Zhang Qian to the west to establish economic and cultural connections. It is more commonly known for this interaction to be called the silk road, where the road stretches all the way to the black sea and Europe.
This resulted in having a large variety of exchange, making china a globalised country in such early states.
The first recorded historical instance of globalisation dates back to the Han Dynasty. Emperor Han Wu Di wanted to gain alliance with other countries to defeats the huns who were attacking the frontiers of Han.
Cultural revolution
significant drop to china's globalisation due to the cultural revolution that happened during 1966-1978. The Cultural Revolution led many citizens to lose their possessions. Politicians, landowners, and the high class society lost their jobs and properties. The lives of many Chinese were changed for the worse. More citizens became peasants and worked in the farms in order to afford foods and earn money for their families.
The educational systems took many long years to repair. The greatest impact of all was that all educational opportunities and potential productive careers were denied to people who experienced the Cultural Revolution during their teens and early adulthood. For some people, their lives changed for the better as they were able to escape the hardships of the Cultural Revolution.
This resulted in having less educated people in China, having less education, dropping China into a less economically developed country. As for most, the nightmares of the Cultural Revolution still linger and escaping that piece of reality is only hope, because the collapse of the economy and government had huge impacts on their lives which took years and years to restore.
Development
The globalisation speedily driven by the world economy has been shaping the world in a profound way. With this mega trend, China was able to break the bondage of the Cultural Revolution. Over the past 20 years, China achieved significant economic growth. If China failed to make such a decisive move, China would miss the golden opportunity to advance its economy. In absence of such a sound external environment created by economic globalisation, the effectiveness of China’s open door policy would have been dull. It explains what motivates China to play an active part in economic globalisation.
It has taken a historical step to begin a set of policies conducive to reform and liberalisation, with modernisation as its mission. Such a move has transformed China from a planned economy into a socialist market economy. It leads China in further opening up and integrating with the global economy,which will in turn speed up the progress of modernisation in the country.
Over the past 20 years, China achieved significant economic growth. If China failed to make such a decisive move, China would miss the golden opportunity to advance its economy. In absence of such a sound external environment created by economic globalisation, the effectiveness of China’s open door policy would have been dull. It explains what motivates China to play an active part in economic globalisation.
DISADVANTAGE
That growth created public panic with pollution, food safety scandals, and inflation.
It also created a class of ultra-rich professionals who want more individual liberties. They primarily live in urban areas, since that's where most of the jobs are. In 2012, 52.6 per cent of the nation's population lived in urban areas. That's more than double the 20 percent that did so in the 1980s.(China's Economic Growth, balance.com)
Local governments are charged with providing social services, but aren't allowed to tax locally to fund them. As a result, families are forced to save because China doesn't provide benefits for people who've moved from the farms to the cities to work. Interest rates have been low, so families don't receive much return on their savings. As a result, they don't spend much, keeping domestic demand low.
ADVANTAGE:
China's growth has reduced poverty. China has 20 percent of the world's population. As they get richer, they will become bigger consumers. More companies will try to sell to this market, the largest in the world. They will tailor their products to Chinese tastes. Growth is making China a world economic leader. China is now the world's biggest producer of aluminum and steel. Exports rose 25 percent in 2015.: ("China," Wall Street Journal)Chinese tech companies are quickly becoming world-class. Xiaomi and Huawei are number one and two producers of smartphones in China. Xiaomi is exporting to Brazil and India. Huawei is exporting to Peru and South America.
China started to produce since they had a lot of working hands, this allows more job opportunities while having a better economy. This allows more development in economy, having more people in the secondary sectors in development indicators.
economic development- as per the index shown by human development china ranked 94th and according to the china's current scenario only the 16.6% of population is in poverty. Which is deceasing continuing decreasing in last 23 years.
improve in life style and increasing employment opportunity:- the best effect of globalisation for the developing country like china is improving in the life style . the living standard of all community in that country will drastically improved. The employment opportunity for public in developing country is also increases by the effect of globalisation.
Every county in this world is directly and indirectly influenced by globalisation. The world globalisation means public from the different part of world connected together. There is a flow of money and knowledge between them. They can go beyond their geographical boundary. The goods and service which generate by one country can be consumed in all over the world. This truth has been called globalisation. It is a system which linked various nations to promote global economy. Globalisation carry chance and profit with it, but it depends on the nation how they are taking it. The advantages of globalisation have been taken by much country like china.
