Extra credit blog / China and Globalization / Choi sieon
"Is globalization good for China? And is China good for globalization?" First, when asked if globalization is good for China, we need to go back to 1979. When Chinese President Deng Xiaoping returned from a visit to the United States, he said, "All you need to do is catch mice, whether they are black cats or white cats." (In Korea, we said '흑묘백묘론'(white or black cat theory)). This means that regardless of communism or capitalism, it is only necessary to make it so that the people can live well. In the end, Deng Xiaoping progressed China's first globalization through a pragmatic reform and opening up policy. As diplomatic relations between the United States and China recovered, reform and opening up to accept foreign capital began, and huge foreign capital flowed in as China's cheap labor and rent served as advantages. In 2001, joining the WTO was able to lower tariffs and trade barriers, and China's globalization accelerated further. What effec...