The opportunities and challenges of the Chinese market in the context Essay

The opportunities and challenges of the Chinese market in the context of globalization - Essay ExampleThis paper shall discuss these opportunities and challenges. Main Body lit Review The major economic progression of china for the past 20 or so historic period has become a source of much astonishment as well as concern. Other developed countries, including the US occupy made significant efforts towards speeding up Chinas economic growth. However, when China actually liberalized its economy, the West had contrasting feelings virtually such liberalization (Wen, n.d). The industrial states are now experiencing trade frictions with China which led to various protectionist actions against Chinese products which live become widely present in their markets. Moreover, the impact of Chinas growth are not focused only on the economic, they also have significant political and strategic complications. Being a capitalist economy, the main goals of China as it gains strength is to be under major scrutiny by other countries (Zweig, 1999). It is difficult to understand whether its economic activism would present problems to the western goals towards securing political reform, human rights protection, and liberalized trade in Latin America and Africa (Liang, 2010). The bigger issue is also on whether the country will likely become a revisionist player or a status quo unit in the world economy and administration (Liang, 2010). The relationship of developing countries with China is both good and bad. In general, Chinas growth has provided opportunities and challenges to the developing countries. The significant rise in Chinas imports from the developing world has established an engaging market relating to the diversification of exports however, other developing countries also have to compete with Chinas products within the trey world setting (Liang, 2010). For its neighbours in Asia including other developing Latin American states, there is a significant concern that Ch inas place in the global economy may negatively impact on their own growth. Moreover, other Asian countries are also having the same concerns as their western counterparts about Chinas expanding and growing military capability. Globalization refers to the deeper relations of different countries caused by the expanded trade, investment, and production activities. The past 10 or so years has seen the rapid pace of globalization. Globalization has actually become the foundation of centrality principles following the Cold War era (Smith and Baylis, 2005). The elements of Chinas globalization shall be evaluated hike in this paper. Chinas economic expansion China has benefitted significantly from globalization. Since 1978 when it was gradually liberalizing its economy, the country has secured an annual expansion of its GDP at 9.4 percent. In 2007 alone, it reached a peak of 11.5 percent (Liang, 2010). This growth rate has placed the country in more or less the same pace as Germany as tr iplet worlds largest economy. China has increased its growth since the 1980s. In 1978, Chinas foreign trade was at $20.6 billion and in 2006 it was up to $1.76 gazillion (Ministry of Commerce, 2007). Chinas trade share in the GDP in 2005 was at 64% (Little Data Book, 2007). China also became a major warmheartedness in manufacturing with its export platform of the cross-national production network (Liang, 2010). Chinas foreign trade in 2004 included a processing trade time value close to $600 million, with 60% of their profits on products