China's Economy and Globalization Research Paper by JPWrite

China's Economy and Globalization
This paper discusses the effect of economy globalization on China's economy.
# 65778 | 3,565 words | 16 sources | MLA | 2005 | US

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This paper explains that globalization, which is a universal phenomenon, has multifarious effects on a country's development, including not only pure economic considerations but also cultural values, creativity development, environmental specie preservation, rural life, health, food and cuisine, religion, human rights, family, ethnic heritage and quality of life issues. The author points out that China is experiencing rapid but lopsided economic development with booming private enterprise and free market but the state owned enterprises (SOE) are less successful. The paper relates that the dismantling of entry barriers to markets, the availability of low-cost high-speed transport and the dramatic impact of advances in information and communications technology (ICT) have challenged the effectiveness of domestic market regulations.

Table of Contents
What is Economic Globalization
The History of China and its Economic Development
Economic Reforms in China
Effect of Reforms in China
Lop-sided Growth in the Process of Economic Globalization
Issues in Economic Management
Solutions for Growth

From the Paper:

"China has a human capital which has largely contributed to its economic reform. The degree of institution reform achieved can be measured by the contributions of the market institutions to national output at the beginning of the 21st Century. The World Bank, in its 1997 publication "China 2020" provided a fairly optimistic forecast of China's real GNP up to the year 2020. The projected annual rate of growth was 8.4% for 1996-2000, 6.9% for 2001-2010 and 5.5% for 2010-2020, showing a decline in the growth rate as the economy becomes more developed. In contrast, beginning from the level of its GNP in 1998, the United States will have to grow at a annual rate of 2.95 percent up to 2020 in order to achieve the same level of real GDP as China's level as forecasted by the World Bank. Allowing for error of these forecasts, one can definitely say that around 2020 China would have caught up with the United States in total real GDP. Of course China's GDP per capita will still be much lower, but many parts of China will enjoy a high standard of living, as we can even witness in Shanghai today."

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APA Format

China's Economy and Globalization (2006, May 17) Retrieved July 12, 2020, from

MLA Format

"China's Economy and Globalization" 17 May 2006. Web. 12 July. 2020. <>