The paper "Market Dominance in Globalization in China" is an outstanding example of a business case study. Large scale economic integration has been much pronounced in most of the world’ s biggest trading partners. These partners could either be individual companies or nations at large. Globalization refers to the process associated with quick economic, cultural, and institutional integration among countries involved (Shangquan, 2000). The main driving factors to this unification include liberalization of trade, investments and increased capital flows, advancements in technology, and pressure of assimilation towards international standards. The main intention or goal of globalization is the elimination of barriers to the free exchange of cultures, commodities of trade, and other tight restrictions to enable free flow of the items and ideas that are of value to these societies (Chapter 11, 2011).
China is one example of a country that highly embraces globalization nearly in all its sectors. This is due to the benefits that come along with the elimination of potential barriers to trade. However, from a critical look into the benefits that are derived by the players of globalization, it is evident that there is an imbalance when it comes to the distribution of the benefits of globalization to the players.
There are a few beneficiaries to globalization as compared to the rate at which it takes place in China. History of China’ s Globalization At the beginning of the practice of global integration, China was one of the nations that were highly opposed to the act of eliminating barriers across the nations (Tao, 2003). China did not go by most of the requirements of the globalized markets. Both globalization of trade and globalization of production were not encouraged by the government.
The global political order was one of the universal principles that China was least willing to put into operation. In addition, the establishment of major global institutions such as the International Monetary Fund (IMF) was never gained support from China. There was the notion that global disorder was the best possible option and not international integration. Under Mao Zedong, it actively supported global disorder to very deep extents and the country believed that its potential to operate independently would bring about more developments domestically as opposed to the case of integration into global markets.
Upon the attack on the country’ s major educational, social and political institutions by China’ s students, under the guidance of Mao Zedong’ s peasant chiliasm; the country’ s establishment was shaken. This was at the time of the Cultural Revolution that took place from 1966 to 1976 (Overholt, 2005). From the time of this revolution, China tried a number of options to regain the stability that once existed in its economy. Among these were socialism, empire, republics, capitalism, warlords, religious fundamentalism, and others (Howell, 2004).
All these options did not restore the economy back to its former position. This revolution was just one of the activities that led to instability in the Chinese economy. China joined globalization late, but more enthusiastically than its neighbors like Japan. At the moment, Chinese markets are more exposed to international markets than the Japanese markets. In the year 2004, China received $60.6 billion of foreign direct investment as compared to Japan that only realized 20.1 billion of the same (Wu & International Conference on "Transition, Growth, and Globalization in China, 2006).
From this, it could be easily concluded that China was a major world economic player in the global markets.
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