China`s modernization economic policies and involvement in the global economy and the effects its having on Chinese domestic politics

China 's Road to Modernization and Its Stake in Globalization

Introduction

As a large Communist country in the past , China today has been doing well as it adapted new economic policies to revive its developing economy . Since the open door ' policy has been in effect , China has been edging its way toward capitalism . With the return of Hong Kong to China , that trend will accelerate . Thus , it would not be a great surprise if the nationalization process turns out to be a reversal , with Hong Kong 's economic system becoming dominant across

all of China Furthermore , within the next ten years there is bound to be a resolution of the China-Taiwan dispute that draws these two parties closer together

With Hong Kong 's financial acumen , Taiwan 's manufacturing prowess , and China 's population of over 1 .3 billion , an economic powerhouse is in the making . China 's economy is already the fourth or fifth largest in the world , and it will be the largest within the next 20 to 30 years . During that time , China will breed thousands of new companies with the capabilities to make all the products that Americans want . Moreover , it is predicted that China will replace Japan and Europe as America 's predominant competitor

Indeed , globalization has challenged all countries in the world especially developing ones , and China is no exception . In fact , China the most populous country in this world , has globalized rapidly over the past decades . When Deng Xiaoping opened China 's door in the late 1970s no one expected that China would be integrated into the rest of the world at such a dramatic pace . The country has transformed from a policy of self-reliance and suspicion to one of openness and integration (Economy Oksenberg 1999 ,

. v . With its membership in the World Trade Organization (WTO ) and other major world and regional organizations , China has become an integral part of the world community The significance of a rapidly globalizing China has led scholars , policy consultants and policy-makers alike to pay intensive attention to the impact of China 's globalization on world politics (Khalilzad et al 1999

China 's Journey to Globalization

China 's rapid globalization has been driven by capitalistic economic development . Capitalism was illegally ' pursued initially as a way of economic development after the Chinese leadership began to implement the reform and open-door policy in the late 1970s , and was legitimized only after Deng Xiaoping 's southern tour in early 1992 . Globalization has brought about sea changes to every aspect of economic and social life in China . Nevertheless , the Chinese state appears to have remained in its traditional Leninist form

Globalizing the country in an economic sense has been an integral part of China 's post-Mao reform . Reform (gaige ) and opening (kaifang have been the two sides of the same coin . The aim of reform and opening was to integrate China into the international community . Gradually international integration or globalization became an important force further pushing the reform and open-door policy (Moore...