The paper 'Globalisation and China" is a good example of a macro and microeconomics case study. In recent years, globalisation has been an issue that has been widely talked about in different circles. De (2005:10) describes the current globalisation process as the one that generates exclusion and extreme inequality. This brings about serious consequences for protecting human rights in terms of both civil and political rights as well as social, cultural, and economic rights. Globalisation has some impacts on people’ s enjoyment of social and economic rights. Global markets are a creation of globalisation which is a strong mechanism for the achievement of dynamic development but at the same time can lead to marginalisation and exclusion of large numbers of ordinary citizens who have neither wealth or status advantage (Breznitz & Murphree 2011:110).
The benefits of globalisation are many but what is controversial is whether all stakeholders enjoy these benefits equally. Mahtaney (2010:191) asserted that ‘ globalisation is not about unleashing opportunities worldwide but about consolidating access to global markets by a few privileged players. .. Although the benefits [of globalisation] have been substantial, the beneficiaries have been few’ .
This essay discusses the validity of this statement in relation to China which is a latecomer to the globalization process. It starts by describing the meaning of globalisation, reasons, process, and benefits of globalisation. It then relates all these to China and how globalisation has affected it. Arguments will be supported by various academic sources. The globalisation process is generally thought to be an economic process but it also encompasses such dimensions as social, cultural, environmental, technological, and political (De 2005:11). Lo and Rodriguez (2012:96) explain that globalization refers to acceleration and intensification of the increasingly open flow of technologies, goods, ideas, communication, images, and movement of people across national borders.
In this case, cross-border interaction connects countries, cultures, organizations, and individuals into a global economy. Yeung (2000:22) reckons that globalisation represents a set of complex ‘ tendencies and power relations that are capable of creating a new spatial order of social life’ . Therefore, tendencies and power relations shape private and public institutions and social actors. According to Perraton (2011:62), globalisation involves the transformation of human social organisation that is extended beyond power relations reach across the globe’ s major continents and regions.
In sum, globalisation is a global movement in the integration of financial, trade, economic and communication. It is the opening of local and national boundaries to a wider perspective of an interdependent and interconnected world where the existence of capital, goods and services is present across national boundaries. Since globalisation emerged, it has continuously gained popularity because it is driven by certain reasons. Intriligator (2009:303) explains the reason for globalisation as a global agreement on the ideology that converges beliefs in the free trading system and market economy.
This process was started in the 1970s when political and economic changes in China were followed by revolutions in Central and Eastern Europe in the late 1980s. Soviet Union dissolution in 1991 ended this process (Intriligator 2009:304). The result of this process was a convergence of ideology between East socialist economies and market economies in the west which had been nearly replaced by market system reliability. The convergence of beliefs in the value that the market economy carries led to a world that was no more divided into socialist and market-oriented economies.
The nations and international organisations that have been constantly championing globalisation have a focus on three areas in transitioning to a globalised world. These approaches are privatisation of state-owned enterprises, macro-economy stabilisation and liberalisation of prices (Perraton 2011:67). Globalization is widely accepted to be driven by economic, liberalization, politics, media and cultural factors. Historical and modern migration patterns are also the reason for globalisation (Martell 2010:105). People have always moved across their boundaries hence exporting their technological know-how, manpower and skills to their new destination.
Thus, globalisation is achieved through the export of these skills by individuals. Blanco and Razzaque (2011:121) argued that globalisation has been driven by the necessity of accessing and exploiting natural resources. Foreign investment and free trade require large amounts of raw materials and energy and as such accessing and exploiting these resources becomes an end to the achievement of globalisation.
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