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trade and foreign investment has brought in advanced technology and technique of administration that has expanded efficiency in China.
China started to pursue a policy of foreign investment in order to obtain foreign capital, modern technologies and the administration skills that are essential for improving the industrial infrastructure internally and stimulating economic development. As a result of the open door policy, foreign direct investment (FDI) in China increased substantially. After the economy reform of China in 1978, China’s fast development has had a large effect on the world, which has let China becoming an economic giant universally. Today China’s ranking is first in terms of leading purchasing power parity (PPP) in the whole world.
Another important issue regarding to economic improvement of China was the joining to the World Trade Organization (WTO) in 2001. Being member of WTO required China to make lower its tariffs for agricultural products and manufacturing. The lowering of tariffs assisted growing competition for Chinese manufacturers and farmers as well as give fewer expensive products for Chinese customers.
China’s membership in the WTO uplifted external trade which in turn helped China in gaining economic growth in three aspects: International Specialization; enlarged exports¬≠ leading to a progress in aggregate demand (AD) in China as exports are an element of AD and administration procedures that have enlarged Chinese efficiency. This process makes the competition for the domestic manufactures, industries and encourage high rate of efficiency. The China’s government supplied some more ways in which to develop its domestic and foreign investment (Chow 2006).

In point of fact, globalization provides the world opportunities for developing countries to keeping up with the altering world out of their origin homeland. As well as that globalization helps developing countries to cope with rest of the world enlarge their economic development, find a solution for poverty problems in their country. However, it has made the connection between developing countries and developed countries stronger, it made each country rely on another country.
This essay has shown that some of the most significant benefits of globalization are goods and people, that are transported easier and quicker across boarders and for result free trade between countries has increased. Nonetheless, it has made a lot of economy and trade advantages for developing countries, therefore it reduced the probability of war between countries.
The enlargement of developing and appearing market economies with notable emphasis on huge economies like China is reflected by the speeding up in globalization procedure. The rapid growth in both movement and universal trade flows improved the developing and appearing economies which reached this phenomenon to worldwide level. For instance China has lower their trade barrier internationally which leads to the increase in the international trade and foreign investment, this results in significant levels of economic growth and development.
In the final analysis regarding the impacts of globalization over China, it becomes clear that the open-door policy adopted by Deng Xioping while China did have a totally dissimilar ideology has been a considerable success in altering to modernize China. After the modernize of China the dream of Chines people finally has become true. In effect, China’s WTO membership implied both china’s integration with the global market plus converting to the global economic system. China entered to the new level of reform and economic growth. However, this membership distinguished another important part of China’s modern history.
Eventually, this essay indicated that globalization has remarkably improved economic development in developing countries economies such as China. In general, China has been effected and has been taking full benefit of the chances and opportunities given by globalization. The economy of China has been experiencing a period of fast economic growth since the 80s, better than all other world economies by far. According to China’s government, they are planning to become a first and major economic player in the world in near future.


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