China has a thriving economic state china has seemed to be the mecca of industrial products .China has benefited from globalization substantially. China main focus economically comes    from manufacturing .China has a trade deficit because other countries such as the U.S have domestic companies make the production of their facilities abroad in china so china has to import hose products and them have them sent back. “Trade in Goods” with China states that ” the total amount of imports are 45,788 and the total number of exports is 9,835   Many countries have partnerships with china , but the united states is maybe its greatest .American companies invest in Chinese manufacturing to make goods because of the lower cost in labor that would not be able to be done in the states .According to Aei’s tracker china has $172.72b in contracts and investments in America $69b more than the next closest country . 

Globalization has its positive and negative effects on every country China benefits in many ways like its amazing economic growth.   According to the insights if 2003 china made about 1413 U.S billion dollar which stand it in 6th position. During 1968 to 1979 the gross domestic product of china developed with 6.4% however subsequent to going into a worldwide market china made its gross domestic product almost 10% of every 1980’s to 1990. In 2005 its expressed that the industrial generation in china is expanded by 15% while buyer request is expanded by 10%. .This Is amazing because this also contributes to the next phase that’s comes from growth the development economically that comes from this growth .Proof of this is given according to the file appeared by human improvement china positioned 94th and as indicated by the china's present situation just the 16.6% of population who live in poverty. Which is diminishing over a span of 20 years?

 

There are also some negatives that comes from the overload that china has in the trade market . Trading with the United States has also substantially hurt china also cause the countries to be in talks of an reform. They are spending way more than they are bringing in causing its trade deficit. In 2007 the department of commerce released a statement saying they was near applying Tariffs to the entire Chinese import. They were blamed for unjustifiably giving endowments to its producers .Trading with the U.s almost single handedly put them in a trade deficit . In 2013 China had an 1.3 trillion dollar debt owed to the us . These are too easy to pay its hard to reimburse these debts without corrupting the over economy drastically . I believe that the united states benefits more in its gdp even though china has a larger population because of its living conditions .China has every low wages for labor causing most of the negative responses of globalization in the country to be cultural which finds a way to effect the economy .         

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Yes China has experienced significant economic growth and has been considered a major player in the ... View the full answer