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Globalisation and China

In: Social Issues

Submitted By romanaa
Words 1831
Pages 8
Romana
2014
For an economy other than Australia analyze the influence of globalisation on that economic development and standard of living.

This document is about how china has been transformed by globalization. The impact of globalization as well.

Globalisation is breakdown of manmade and natural barriers. It encourages integration and interdependence through the movement of labour, investment, finance, transnational corporation and trade. The emergence of countries is leading to global market place or single world market. Globalisation is ongoing since 1980s.This is resulting in one global market.
Globalisation helps firms grow as investments are quickly managed. This is due to improvement in telecommunication between nations. This has allowed investors to invest overseas. It also caused an increase in international investment, which helped spread new ideas.
Financial flow is a flow of money around the world it is increasing rapidly because of financial deregulation. Finance and technology move freely between nations while free movement of labour is stretched way off. The last few decades have been centred on removal of all trade barriers. The goal is not free trade but it is freer trade. Through the reduction in barriers it is improved in transportation system. The integration between nations has caused to problems such the GFC, Asian crisis and Euro crisis.
Over the past labour markets have been increasingly integrated. The free movement of labour is important part of globalisation, as it to build the interest of comparative advantage. An international market for specialist labour skills has emerged the increase mobility of skilled, semi skilled and professional people leads them to developed countries earn higher wages, this is despite restriction on visas and work permits. High skilled labour can move to developed countries.
Globalisation works…...

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