Extra credit blog: China and globalization : Kim minjun

 Globalization is a phenomenon that has far-reaching implications for China, which has various consequences for its economy, society, and politics. First, one of the main benefits that globalization provides to China is economic growth. With international trade and foreign investment, China has grown rapidly and emerged as a major economy in the global economy. In particular, the development of the export industry has significantly increased China's GDP, which has had a positive impact on domestic productivity and job creation.


These economic growths have helped improve the lives of the poor in China. As many people look for employment opportunities and their incomes increase, China has emerged as one of the main beneficiaries of the global economy. But this economic prosperity has created an imbalance, widening the income gap between urban and rural areas and between high and low income groups.


In addition, globalization has provided China with opportunities for modernization and technological advancement. Through exchanges between various countries and businesses, China has improved its technological level by acquiring advanced technologies and knowledge and applying them to domestic industries. This has contributed to China's maintenance of competitiveness and leading role in the modern economy.


But globalization also poses challenges for China. Environmental pollution problems caused by industrialization are increasing, which is testing China's commitment to sustainable development. Moreover, export-driven economies have made them vulnerable to fluctuations in the global economy, putting China at risk of a downturn.


China has a strong position on the international stage with its active participation in globalization. Through large-scale projects such as "One Road at a Time," China is making efforts to reshape its international economic structure. China also plays a bigger role in international organizations, influencing international norms and institutions.


Overall, China is economically benefiting greatly from globalization, but at the same time it faces the challenges that come with it. China is further strengthening its influence in the global economy as it tackles these challenges, and playing an even more important role in the international community.

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