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Globalization is a process in which people, business or countries interact and integrate worldwide whether through money, ideas or culture. Every county is directly and indirectly influenced by globalization but one country which I believe is helped substantially by globalization is China. China is the most populated country with an immense population of 1.4 billion and has a communist government which play a huge role in globalization. China’s gross domestic product (GDP) was 4.1% in 1990 which increased to 23.76% by the end of 2017 and the saving deposit of civilians was 560 billion us dollar in 1997 which is 218 times the savings in 1978 and still increasing consistently each year. Not only that but the tourism, import and export increased by 10%, 41%, 33% respectively as China joined hands with WTO, attracting tourists and big entrepreneurs. As the globalization increased the poverty decreased and standards of living also improved. Globalization does not have all positive effects but also have some negative effects. Labour in China is very cheap and MNCs move to China for production of goods thus consuming the jobs of people working in the original country. Also, there is an increase in human trafficking as people move to other countries and child labour and poor working conditions are also observed due to a huge number of jobs. Globalization has both negative and positive effects but is necessary for the largest economy of the world for its development and prosperity and can’t be ignored.
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