How Globalization Affects China
This is an excerpt from the paper...
In todayÆs world, virtually no country on earth is immune from the effects of globalization. In the global economy, any adjustment, large or small, has an effect somewhere down the line. Eduardo Aninat, Deputy Managing Director, International Monetary Fund (IMF) The Foundation for Globalization Cooperation's Second Globalization Forum, defines globalization as ôthe increasing interaction among and integration of diverse human societies in all important dimensions of their activities--economic, social, political, cultural, and religiousö (Aninat, 2001). Aninat goes on to explain the global environment that we are living in, where the immediacy of information allows companies to be much more responsive to the needs of their customers and to operate at a much more rapid pace. He describes ChinaÆs position as it readies itself to enter the global market and points out that globalization will improve ChinaÆs economic picture but will also have some short-term adverse effects. The entry of a country into the new world of globalization is rather like the marriage of a commoner to a prince. Although it will undoubtedly require sacrifice, and there is no turning back to an easier time, the rewards will be great and the advancement lasting. China may have a bit of a rough ride as it enters the global market, but not to do so would be to needlessly forfeit much prosperity and growth. As an ancient country, China has had a long history of event
. . .
Trade Organization (WTO) assumed that WTO membership would bring down the trade deficit by forcing China to lower its trade barriers and align its laws and regulations with international standards, the opposite has taken place. ôSince China joined the WTO in 2001, the U.S. deficit has grown by $20 billion in each of the last two years, about twice as fast as in the years preceding accessionô(AFL-CIO, 2004). In addition, China has violated international trade rules with impunity, deliberately undervaluing its currency. In spite of all of these infractions, however, China and the United States continue to execute huge trade agreements, and ChinaÆs improper practicesùalthough paid lip service by various groupsùhave not been hindered in any substantial way.
Interestingly, ChinaÆs abuses have contributed to similar abuses here in the United States. ôAmerican companies like Wal-Mart rack up billions of dollars in profits by taking advantage of the artificially low wages made possible by the Chinese governmentÆs repression of democracy, political dissent, and fundamental human and workersÆ rights. Last year, according to Forbes magazine, five of the ten richest people in the world were members of the Walton familyö (AFL-CIO, 2004).á
. . .
Some common words found in the essay are:
Interestingly ChinaÆs, Republic China, Communist Party, Globalization Forum, World Factbook, China China, Retrieved April, Frankenstein China, Washington Monument, China Third, retrieved april, trade agreements, global economy, 12 2005, cia world, aisi 2003, april 12, retrieved april 12, april 12 2005, april 6 2005, global market, retrieved april 6, beech 2002, oval office, iron steel institute,
Approximate Word count = 2921
Approximate Pages = 12 (250 words per page)
More Essays on How Globalization Affects China
|
Customer Service
to Over
32,000 Professionally Written Papers!!!
