Extra credit blog: China and globalization-YUE JUNTONG

 Globalization is good for China. China is the world's largest export country, exporting various industrial products. However, China is not rich in natural resources. Among energy resources, coal, natural gas and oil require large amounts of imports, as do copper, iron ore and lithium ores, among mineral resources. Globalization has refined the division of labour among countries in the world: first-world countries, second-world countries, and third-world countries. China can continuously obtain raw materials from third-world countries, process them into industrial products and export them to the world. This is the benefit that globalization brings to China. At the same time, globalization will also allow China's political influence to radiate around the world through trade and investment. For example, China’s One Belt, One Road policy has emitted from East Asia to the Middle East.

China is good for globalization. China is an essential promoter of globalization. Goods made in China have spread all over the world. Made in China has widely covered daily necessities and light industrial products in many countries. For example, the United States likes to buy Christmas trees at Christmas time, and the largest exporter of such trees is China.

Similarly, in Japan, no family can guarantee that there are no products made in China at home, and many people do not even need to learn that the products they use are made in China. China's strong export capabilities continue to promote the process of globalization. At the same time, as China continues to develop, China has formed a sizeable middle-income group and a vast consumer market that can digest various commodities from all over the world. This huge market has allowed many countries to make a lot of money. This is the meaning of globalization - shared prosperity and expected progress. China's strong export capabilities and colossal consumer market have made outstanding contributions to globalization because China's strong economy is not to exploit third-world countries through financial means but to use annual exports in exchange for its export strength of US$3.6 trillion.

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