Extra credit blog: China and globalization -- Yeogeun Song

 I think china and globalization have Symbiotic but Complex Relationship.

Because Globalization has undeniably been good for China, accelerating its economic growth and global standing. Simultaneously, China has shaped globalization through its trade networks, technological advancements, and investments. However, the relationship is not without challenges: issues like inequality, environmental concerns, and geopolitical tensions show that while globalization and China mutually benefit, the dynamics require careful management to ensure equitable and sustainable outcomes for all parties involved.

Benefits for China:

  1. Economic Growth:

    • Globalization opened access to international markets, fueling China's export-driven economy.
    • Entry into the WTO in 2001 significantly boosted trade, investment, and GDP growth.

  2. Industrialization and Modernization:

    • Foreign Direct Investment (FDI) brought advanced technologies and expertise, enabling China to modernize its industries.
    • China has become a global manufacturing hub, earning the nickname "factory of the world."

  3. Poverty Reduction:

    • Globalization has lifted hundreds of millions out of poverty, with rural-urban migration creating new economic opportunities.

  4. Integration with the Global Economy:

    • China's Belt and Road Initiative (BRI) demonstrates its role as a central player in shaping globalization by building infrastructure and economic ties across continents.
At the same time, these problems arise

  1. Trade Imbalances:

    • Critics argue that China's trade practices, such as subsidies for domestic industries, have disrupted global trade fairness.

  2. Economic Dependence:

    • Many developing countries that benefit from Chinese investment face debt risks and overdependence on China's economy.

  3. Geopolitical Influence:

    • China's use of economic power for strategic influence raises concerns about political and economic sovereignty in recipient countries.
Of course, China is helping globalization and globalization is helping China, but I think Xi Jinping's dictatorship sometimes interferes with the laws of globalization.

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