Extra credit blog:China and globalization -ZHUANG MINNA

Since China's "Reform and Opening-up" policies initiated by Deng Xiaoping in 1978, the country has shifted from a largely closed, centrally planned economy to one that is deeply integrated into the global market. China's entry into the World Trade Organization (WTO) in 2001 marked a significant milestone in its integration, leading to rapid growth in trade, investment, and the exchange of technology.

In terms of international trade, China has established close trade relations with many countries in the world, especially with the United States, the European Union and developing countries. China has also promoted infrastructure construction and strengthened economic ties with Asia, Africa and Europe through the "Belt and Road" initiative.

In terms of foreign investment and investment, China has not only attracted a large amount of foreign direct investment, but has also become an important source of global investment, especially in the fields of energy, technology and infrastructure.

China has become the world's "factory", mass-producing and exporting a variety of goods, such as electronics and clothing. This has promoted the rapid growth of China's economy and helped hundreds of millions of people escape poverty.

China’s relationship with globalization is complex and multifaceted. The country has been both a beneficiary and a driver of globalization, reshaping global trade, economics, culture, and politics in profound ways. While it faces criticism for some of its practices and challenges in managing its own growth, China's role in the world is undeniable and will likely continue to evolve as it navigates a changing global landscape.

 

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