Extra credit blog: China and globalization _ Soeun Kwon

 

Is globalization good for China?

Globalization will benefit China. In 2024, China proposed a global initiative to establish a new framework in its relations with the world as a major power. The 2024 diplomatic initiative prominently showcased a global vision and plan that emphasizes its identity as a major power. The global vision proposed by China focuses on promoting "multipolarity of the world" and "economic globalization." This economic globalization can achieve trade and investment liberalization, strengthen solidarity with other countries to expand its influence in the international community, and accelerate economic growth. Economic growth can improve the living standards and education levels of Chinese citizens, ultimately liberating them from poverty.


Is China good for globalization?

China advocates for an inclusive and open economic globalization, aiming to reshape the existing U.S.-centric international order. Analysts suggest that China’s stance on economic globalization indirectly criticizes the U.S. policies that seek to exclude China from supply chains in advanced future industries, such as semiconductors. China views securing allies in the international community as crucial to countering U.S. offensives and finding breakthroughs, particularly against sanctions in the economic and scientific-technological fields. In this context, China seeks to expand its support base, focusing on emerging and developing countries.

China asserts that through economic globalization, it aims to meet the universal demands of developing countries and address global disparities in development through the redistribution of resources. In essence, China's globalization efforts could lead to the expansion of economic and diplomatic networks among emerging and developing nations, fostering multipolar international development. In this regard, it can be said that China is contributing to globalization.



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https://www.eai.or.kr/new/ko/pub/view.asp?intSeq=22298&board=kor_issuebriefing 

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