Globalization: China's Savior Or Ultimate Detriment - Research Paper

1701 words - 7 pages

CU Boulder PSCI 2012

In the world today, globalization has and continues to impact every country
in the world. Globalization is opening national barriers to allow services,
capital, labor, and goods to flow internationally. While it somehow affects every
nation, not all can use its effects to prosper. China, for
example, is a country that thrives from globalization. With an industrial economy, 1.3 billion people are willing to work labor jobs for cheap pay, and
the manufacturing costs are extremely cheap. Because of this, they have
become the worlds leading importer/exporter, and in doing so, multiplied their
GDP by a factor of 22.5 in between 1978 and 2012. In addition, more tourists
are visiting China every year. Because of this, Chinese people are exposed to
different cultures, making them a more well- rounded community. The
government is also able to collect more taxes from tourists, helping them solve
internal problems. Essentially, the factors of globalization made China rich,
and continue to boost their economic success.

While the rapid modernization of our world effects China positively overall,
it has caused some issues within the country that still affect its people every
day. Globalization brought issues like child labor, job insecurity, and pollution
. Because their government has few federal regulations on anything that
protects Workers pay, health, well- being, or environment, these issues have
created many national problems that have lead to detriment China. While one
could argue that these issues single-handedly make globalization an overall
negative effect on the country, their rise in economic status has made them a
world superpower and the fastest growing nation on the planet. With all it has
done for China as a country, the issues globalization brings along are not bad
enough to outweigh the good. Due to globalization, China has experienced
economic growth and development, increase in savings, tourism, imports and
exports, and a happier population.

Since globalizing, China has become the worlds biggest importer and
exporter. Currently ranking 1st in the world in exports, and 2nd on imports,
China brought in $2.27 trillion in exports, and $1.23 trillion in imports in 2016.
Clearly, their economy strongly relies on large amounts of money from goods
annually. To keep economic stability in a nation of 1.3 billion people, lots of
workers are required to keep producing goods, which has lead to millions of
job openings in China. Currently, their unemployment rate is 4%, which is an
all-time low for the country, and matches the US. Due to globalization, China is
now a thriving, global, economic powerhouse, who facilitates more world trade
than any other country.

Child labor, has grown to be a huge problem in China since their increase
in production. While the governments laws say no children are allowed to
work if under the age of 16, many under-aged kids are forced to work in
secrecy...

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