Abstract
Globalization is the significant process of amalgamation and relations among the distinct states, governments, and businesses of the world, and technological advancements typically assist the procedure. Economists in the previous decades were relatively informed that there was the partnership between individuals and markets which have been a source of ethical operations . China, in the ancient era, was an open society, although it later became a close d one under the leadership of Deng Xiaoping. Under the direction of Deng, China crafted new economic reforms that strengthened her ties with many other nations. Infrastructure and information technology are significant contributors of globalization. The procedure causes economic and intellectual development which are ethically recognized .
Globalization in China
Globalization refers to the process of integration and interaction among the governments, people, and organizations of different countries. Apparently, the procedure is caused by investments and international trade and is usually supported by information technology. The progression ethically have some impacts on the culture, environment, economic development, the physical wellbeing of people, and their prosperity in the society around the globe. However, globalization is not a new thing to humanity because for many decades, corporations and individuals supplying to and purchasing from one another in territories that are a distance apart (Afele, 2003). This study delves into globalization in China, the causes of the procedure, and the ethical effects it has on the economy and humanity.
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According to Cutmore and Rosenfeld (2017), globalization is an old concept and can be traced back to thousands of years ago. Looking at this history gives a better understanding and a clear view of the debate on globalization. Apparently, in the ancient epoch, economists were relatively aware that markets and people globally were becoming integrated. The growing output and the search for specialization grow businesses and bring people from different parts of the world together.
China was an exceptionally open society in ancient times. She established remarkable trade ties and relations with the European and Asian continent. This she did through the famous "Silk Road." Her main exports to Europe and West Asia were the remarkable inventions of gunpowder, paper, and the compass (Michalopoulos, 2001). In 1949 a new political system of governance was established in China, and it was based on the Communist Party led by Mao Zedong. Under this new management, China inevitably became a relatively closed society unlike before. This is not to say she did not maintain her diplomatic ties. She did, with nations in Europe, Asia, Latin America, and Africa but her economic relationship with the world became very limited.
At around 1950s, the primary economic partners of China were several social economies as well as the Soviet Union. However, in 1960, she pulled away from the Soviets and established new ties with a few capitalist nations and developing states. Her isolation from the Soviets saw her missing out on the initial process of globalization in the 1970s. Moran (2002) alleges that during his reign, Mao Zedong had established what was famously dubbed as "Cultural Revolution." It was an uprising that lasted a whole decade albeit it ending with the halt of his reign in 1976. The primary focus of the revolution had been class struggles and ideological differences instead of the ethical economic development of the country.
In 1977, Deng Xiaoping became a top leader in China. Sharma (2010) alleged that during his reign, Deng Xiaoping brought about economic reforms that opened up China to the world. So effective were these policies that even after his death, they remained with the Chinese nation. The nature of the procedures replaced the sluggish socialist system with a planned economy that entailed capitalist means. The agricultural and industrial sectors benefitted from these reforms. In agriculture, household had an ethical responsibility replaced collectivization while in the industrial area, authority shifted to local officials.
These reforms led to an increase in economic ties of China with the world. As a result, the living standards of the Chinese people improved their Gross Domestic Product rose by 9.3 percent ranking 7 th in the world. It had the 2 nd largest economy in 2001 after the US. China also managed 6 th position as the most significant trader in 2001 (Vangeli, 2017).Today China ranks as the leading exporter of garments, bicycles, phones, shoes which are labor-intensive products.
1993 to 1998, China became one among developing countries to attract numerous foreign investments. It was recognized by United Nations Development Program and World Bank as the only nation where poverty was not on the increase. The poverty-stricken rural population dropped from 250 million in 1978 to 30 million in 2000 (Vedavalli, 2007). Through the process of globalization, China's vast population has been brought under control, and consequently, the birth rate has dramatically decreased. Life expectancy of the Chinese people rose from 35 years in 1949 to 71 years in 2001. This kind of outlook is five years above the average world rate.
Causes of Globalization
Various factors are renowned for causing globalization. Apparently, improved transport has made it easier to travel from multiple global parts to others. For instance, there has been a rampant growth, especially in air travel which has fostered more significant movement of goods and people and across the globe. According to Zheng (2005), technology has been relatively improved and has made the sharing of information and communication quite easy. For example, people can sign up for membership accounts on websites, such as Elance and Upwork where they can bid for tasks that are typically posted by clients from different world parts. The sites enable many people to access jobs at any time of the night or day. Thirdly, the mobility of capital has been improved . The barriers of money have been reduced which facilitated the flow of capital between distinct economies. The move has augmented the capability of organizations to ethically receive funds. Besides, it has also increased the international interconnectedness of financial markets globally.
Impacts of Globalization
Afele (2013) alleged that due to competition among producers, the consumers are significantly advantaged and have a variety from which they can choose. It results in lower prices and improved quality for various products at the marketplace. Due to globalization, many investors are attracted making people enjoy a ethically high standards of living by acquiring highly paid jobs. Leading Indian companies have also invested in advanced methods of production and technology to raise their production standards due to increased competition (Zukus & The Diplomat, 2017). Opportunities for businesses offering services have also been created in India. Services ranging from administrative tasks and data entry to accounting are exported to developed countries after being done cheaply in India, thus creating increased employment.
The supply of raw materials by local companies to the industries has grown tremendously. Due to the availability of employment, jobs become more temporal, and insecure people hold more than one position in different companies. Cultures have also been immensely affected by the advancement of technology. Through websites like YouTube and other social media that connect people with the rest of the world, the original cultures are ignored (Cutmore & Rosenfeld, 2017). Transport to enhance trade creates the use of fossil fuels that cause pollution that brings about climate change which severely affects human life thus damaging the environment.
Conclusion
To sum up, globalization is the procedure of inclusivity and communication among the people, nations, and governments of the world, and information technology aids the process. This has brought the ethical concepts of globalization to the limelight. Globalization started many decades ago and had tremendously improved in the current epoch. China was formerly an open society albeit it becoming a closed community under the Communist Party. Deng Xiaoping rose to be the Chinese leader and opened up the nation to the entire globe. Improved transportation has been a significant cause of globalization by making more accessible to access various world parts, primarily through air travel. Besides, the improvement in capital mobility is also a contributing factor to globalization. Notably, the process has led to an ethical competition where consumers globally have an array from which they can choose products offered by the various rivaling competitors.
References
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