China in the World

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China in the World

1 . Introduction

Globalization is the major objective trend of economic growth and development in the universe today , denoted by free flow as well as optimized allocation of technology , capital services , science and information technology on a global context . This has mostly been the case due to the fast rising demands for goods and services as well as changing trends of consumerism among the dynamic generation . It has been pushed by fast revolution and advancement of information technology

especially after 1980 and 1990 . It is considered to be the irresistible outcome of the final development of advances of science technology and productive forces . As the world continues to shrink into a smaller digital village , interdependence among the states , regions , and various economic cooperation globally offers a plethora of solutions to social political , cultural , and economic issues affecting various states (Clifford Clifford , 2009 ,

. 103

2 . China background

China is located in South East Asia and strongly shaped by vast industrial history that was built on social development strategies of mid 20th century . Notably , over 75 of the economy was controlled by the government which entirely focused on industrial growth and largely suppressed the private sector . By mid 1990s , the country adopted pragmatic reforms that saw much reduced control of economy by the central governing authority . By the onset of the 21st century , China 's economy had become a power to reckon with due to its high standards of production capacity . China 's...