The Effects of Globalization on China

Globalisation is the process of increased integration between different economies of the world to create a unified global economy. Economists believe that this movement will lead to a more efficient allocation of resources as countries produce goods and services where they have a comparative advantage. For globalisation to work, it is necessary to promote free trade between nations to enable goods and services to flow between various economies.
"The future of China's economic development is bound up inextricably with the global economy" (Dr Augimeri). …