Extra credit blog: China and globalization LIU ZIFU

Benefits of Globalization for China

 1. Economic growth

 Globalization has contributed to China's economic take-off. Since joining the World Trade Organization (WTO), China has become the "world's factory" with its low-cost labor and strong manufacturing capacity. This open-door policy has not only attracted large amounts of foreign investment, but also boosted export trade, making China the second largest economy in the world.For example, the Tesla Superfactory in Shanghai has indirectly influenced the pattern of new energy vehicles in China. Nowadays, China's new energy vehicles such as BYD have gone to the world.

 2. Technology transfer and industrial upgrading

 Globalization has brought China into contact with more advanced technologies and management experience. The investment and cooperation of multinational companies in China has provided learning opportunities for local enterprises and accelerated industrial upgrading.For example, China's rise in areas such as BOE electronics, Huawei communications and renewable energy.

 3. Expanding international influence:

 Globalization has allowed China to play a more important role in global affairs. China's Belt and Road Initiative has gained it important diplomatic partners by extending its influence to Asia, Africa, and Europe through infrastructure investment and economic and trade cooperation.

 4. Diversification of society and upgrading of consumption:

 With the introduction of international cultures, commodities and ideas, Chinese consumers enjoy a richer choice of products and lifestyles. For example, the popularity of luxury goods, electronic products such as Apple and Samsung, and international brands such as Nike are direct results of globalization.

 China's contribution to globalization

 1. Pillar of the global supply chain:

 China's manufacturing sector has become an important part of the global supply chain, from consumer electronics to medical devices, China has played a key role in securing the global supply of goods. In particular, during the Xinguang epidemic, China's production capacity provided important support to the global supply of anti-epidemic materials. As well as Apple's Zhengzhou Foxconn foundry, which specializes in producing cell phone parts for Apple and others.

 2. Economic development drives global demand:

 China's huge market offers huge growth opportunities for international companies. The rise of its middle class has stimulated global demand for luxury goods, automobiles and high-tech products, indirectly boosting economic growth in many countries. According to statistics, China accounts for 40% of the world's luxury goods consumption.

 3. Promoting international cooperation:

 Through the Belt and Road Initiative, China has provided financial and technical support to many developing countries, offering a new model for global development. This form of cooperation challenges the traditional Western development path and provides more options for emerging market countries.

 

Comments

Post a Comment

Popular posts from this blog

HUANG LINGXUAN （What is globalization?）

The term "globalization" first appeared in 1962, and today it has transformed from a specialized term into a common expression. <The Economist> called it “the most overused word of the 21st century.” Merriam-Webster defines globalization as the process of promoting activities and motives across global spaces, a process that has been ongoing for a long time. In fact, the roots of globalization can be traced back to humanity’s early migrations and expansions. The year 1492 marked a significant milestone in the history of globalization. The discovery of the New World brought together people who had been isolated for millennia, and various species began to exchange globally. For example, Peru’s potato and Mexico’s chili peppers spread around the world, while Ethiopian coffee found new homes in Brazil and Vietnam. During this period, different societies not only evolved in diverse ways and established unique political and economic structures but also developed different tech...
Read more

What is Globalization? -Dabin Kim

Globalization refers to the process by which countries around the world are economically, politically, socially, and culturally interconnected. As time and space constraints are reduced due to the development of technology and communication, interactions between countries become closer and the world works like a "one global village." Roland Robertson defined globalization as a "spread of global consciousness," while Anthony Giddens described globalization as a "compression of time and space," stressing that local events have an immediate impact on the world. There are economic globalization, cultural globalization, and political globalization. Economic globalization is a phenomenon in which economies are connected to each other through the free exchange of goods, services, and capital between countries. For example, the spread of multinational corporations and the increase in international trade are prime examples of economic globalization. Multinational c...
Read more

Blog1: What is globalization? - Jeongeun Park

Blog1: What is globalization? In the 21st century, as globalization progresses rapidly in various fields, such as the media industry and the IT field, I believe that there might be no one who doesn't know the word "globalization." Nevertheless, it is questionable whether they know exactly what globalization is. According to Roland Robertson and Harrison White, emphasizes different aspects of the global interconnectedness in sociology and cultural theory. While both of them recognize the sweeping influence of globalization, their perspectives separate in meaningful ways. Robertson looks at the cultural and global consciousness it fosters, whereas White focuses on how globalization impacts the social relationships and structures that bind people and institutions. Especially, the concept of “Glocalization” suggested by Robertson was interesting to me. This means that local cultures actively reshape global influences to fit their own context. I reckon that the perspective sho...
Read more