China and Globalization Essay

Chinas rapid ascent as ane of the worlds fastest-growing economies (Adornino & Wilcox, 96) has triggered enormous attention among scholars interested not completely in the political, sparing and social underpinnings of its continued growth but as well as in the implications of its increased integration with the international miserliness. Indeed, an examination of the unique feature article of Chinas ripening and transition from a planned, centralized economic governing body based on the socialist political theory to the liberal, open-market economy it is today strengthens the arguments in support of globalization.On the other hand, the impact of its liberalization and democratization on Chinas poor in addition presents a critical glance on the deal out-offs of global integration. The stage for Chinas entry into the global economy was clearly set by the transition from a closed, comparatively self-sufficient economy which was crystallized in the post-Mao era under Deng Xiaopings leadership in the Chinese Communist fellowship. In the late 1970s, the company began instituting domestic economic and social reforms mirroring its abandonment of the socialist economy and ideology in favor of liberal economics.(Adormino & Wilcox 96) Among the major reforms undertaken was the development and democratization of trade and markets, effectively allowing uncontrolled private ownership to the means of production, heretofore have publicly, and the shift from a planned economy to a market-oriented free calling system. (Guan, 2001118) Likewise, the Chinese regimen reduced state control and intervention in economic activities as it began to adopt an Open Door policy to allure foreign direct investment and facilitate the growth of Chinas international trade.Thus, China became part of the global economy after economic liberalization and democratization. On the other hand, the countrys integration into the neoliberal world economic order has also been the subjec t of much criticism. Guan (2000) notes that the effectuation of market reforms and Chinas consequent integration drastically changed not only the countrys economic system but also important aspects of its social policy. (119) As a result of the shift to a free market economy, the nations role in the prep of welfare and security for its citizens significantly diminished.For in military strength, food and price subsidies have been stop and the poor are faced with the risks of unemployment. Likewise, Guan (2001) asserts that widening social inequality has also characterized modern China despite sustained economic growth and efforts at reforming social policy to provide safety nets for labor, agriculture, and other poor sectors. (243) Undoubtedly, knowledge of both the negative and positive aspects of liberalization informs the Chinese governments attitude toward global economic integration.This is evident in the manner by which the state has controlled the pace of Chinas integration with the international economy in order to preserve social stability. (Adornino & Wilcox, 97 Yong & Moore, 117) However, Yong and Moore (2004) attribute the States waryness of completely and totally embracing globalization to its fear of the inbuilt weaknesses and vulnerabilities of a globalized system that could jeopardize Chinas strategic medical prognosis as an aspiring great position. (117) China is thus effectively hindered from in full associating itself with the global economy due to its political identity as a socialist country and to the fact that the market reform has resulted into the further atomization of interests in Chinese society. Thus, it is in the most ironic sense that, as Adornino and Wilcox (2006) observe, the Chinese Communist Party legitimizes its rule and power through a flourishing capitalist economy.(100) The State is therefore careful of rushing precipitous into a fully open, liberalized country since this would entail the further erosion of its pow er as market reforms have increasingly devolved decision-making powers to producers and enterprise managers. (Adornino & Wilcox, 100) The further diffussion and decentralization of power threatens not only the leadership of the Chinese Communist Party but also endangers the country to social instability as the needs of its citizens become increasingly diverse and at the same time polarized amidst those benefitting from the market reform and those who have lost much because of it.(Adornino & Wilcox, 100) Chinas experience in globalization is arguably unique due to the governments ambivalence in adopting a clearly Capitalist stance and ideology and the pressure created by the need for social equality. Chinas integration to the global market is hampered by internal difficulties in positioning various political and economic interests. On the one hand, Chinas economic restructuring has created a cursorily growing and expanding market and trading system integrated with the internationa l economy.On the other hand, its government has to precariously proportionality competing interests in social and domestic policy, resolve the problems in social inequality, and at the same time reduce its involvement in economic activities as demanded by the free market economy. Thus, while the benefits of Chinas rapidly growing economy is obvious for the elite, the host of political and social problems created in its wake also makes the majority of the Chinese people bear the brunt of the development from a clearly socialist path into an ambivalent capitalist society. whole kit Cited Adormino, Giovanni and Wilcox, Russel G.China Between Social Stability and Market Integration. China & piece Economy 14. 3(2006)95-108. Guan, Xin Ping. Chinas Social insurance policy Reform and learning in the Context of Marketization and Globalization. Social polity and Administration 34. 1(2000)115-130. Guan, Xinping. Globalization, Inequality, and Social Policy China on the Treshold of Entr y into the World Trade Organization. Social Policy and Administration 35. 3(2001)242-257. Yong, Deng and Moore, Thomas G. China Views Globalization Toward a New big(p) Power Politics? The Washington Quarterly 27. 3(2004)117-136.