Globalization and development - Essay Example

Comments (0) Cite this document
Its move from a developing country to a developed country was influenced by reforms that were generally experimental in nature but proved successful. China is now the fourth largest economy in the world and…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.4% of users find it useful
Globalization and development
Read TextPreview

Extract of sample "Globalization and development"

Globalization and Development Globalization and Development The economy of china has constantly grown over the last three decades. Its move from a developing country to a developed country was influenced by reforms that were generally experimental in nature but proved successful. China is now the fourth largest economy in the world and is an established world power (Rodrik, 2007).
According to Guthrie, the success of China’s reforms is due to the fact that the state engineered most of these reforms and has maintained a strict approach to resource maintenance. This thought is similar to that of Rodrik who attributes the success of the innovations to government involvement. For example, the government liberalized agriculture at the margin, such that farmers were only allowed to sell their surplus freely at prices determined by the forces of demand and supply if they met their state obligation.
Guthrie attributes the increase in economic growth in China to the process of market reformation in the country. The transition from planned to market economy, lies in the political reforms that have been taking place in the country, from communism to capitalism. However, according to Rodrik, the Republic of China is still mostly communist since the government controls most of the people’s resources. This is however advantageous, as according to both authors, privatization is not necessary in market reformation, though it is advised. Control by the government has ensured a form of direction and regulation in the economy, making it steady.
However, the development of China is somewhat of a paradox since economists predict that there will be future consequences to the entire international market. For instance, since it is the most populous country in the world, the fact that its food reserves are inadequate to cope with the rising population will lead to crippling of the grain market by the year 2030. Also, China is the second largest consumer of oil in the world, due to its high demand; the prices of oil have been constantly on the increase creating artificial shortage in the international market (Guthrie, 2006).
Developing countries can learn a lot from China, which took 25 years to do what others would have taken 30 years or more. The source of its success according to the two authors is the fact that there has to be government involvement in the process of growth. Countries should not adopt reforms from the Washington Consensus without taking to regard the uniqueness of their own economies (Rodrik, 2007). Those having planned economies should also consider the adaptation of the market economy which provides necessary liberalization which facilitates growth. In conclusion, the two authors are in general agreement as the discussions of Guthrie reflect those of Rodrik.
Doug Guthrie, China and Globalization: The Social, Economic and Political Transformation of Chinese Society, 2006, pp.11-16, 18, 38-72. (CR)
Rodrik, Dani, One Economics, Many Recipes: Globalization, Institutions, and Economic Growth, Princeton University Press, 2007, Chapter 1, pp.13-55. (CR) Read More
Cite this document
  • APA
  • MLA
(“Globalization and development Essay Example | Topics and Well Written Essays - 250 words - 1”, n.d.)
Globalization and development Essay Example | Topics and Well Written Essays - 250 words - 1. Retrieved from
(Globalization and Development Essay Example | Topics and Well Written Essays - 250 Words - 1)
Globalization and Development Essay Example | Topics and Well Written Essays - 250 Words - 1.
“Globalization and Development Essay Example | Topics and Well Written Essays - 250 Words - 1”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Globalization and development

Globalization and Economic Development

...? Globalization and Economic Development GLobalization and Economic Development The products and services each country and its people produce and provide are essential for its survival as a nation. Excess capacity translating to excess production normally earns for the country revenue from exports to another country. Conflict arose when these products are in direct competition with the incoming products. In this regard tariffs or taxes are normally increased on the incoming products to ensure that the local producers are protected. This scenario will result to an increase in price for the incoming product that will provide protection for the lower untaxed priced of the local product. However, extra legal means of bringing products... into a...
3 Pages(750 words)Essay

Sociology of development and Globalization

... the poverty level. 1.2 Briefly describe and explain the Segmented Labor Market Theory. Discuss and explain the relevance of the theory with regards to globalization and international migration Segmented Labor Market Theory occurs when a labor market is segmented. This segmentation is common in globalization. This happens because the capitalists from the industrialized countries outsource their production to developing countries (Luek). The Segmented Labor Market Theory is a theory that states that the workers’ wages would depend on their skills and level of education and experience. Thus, compensation becomes different for each (kind of) worker. It has three sectors: the first sector which is capital intensive; the second sector... -skilled...
9 Pages(2250 words)Essay

Technology Development and Market Globalization

... Question Technology development and market globalization Technology development and market globalization marketoperates under click-and-mortar conditions. Moreover, it should be noted that technologies implemented in different technical tools and machines used in the process of manufacturing reduce the number of employees required for the performance of a mechanical job. As a result, there are less people going by cars to job, which is a great environmental benefit. Moreover, technological communication is a perfect means for people to telework. It is an opportunity for the employers to avoid paying rent for offices and pay their employees only for completed amount of job. Therefore, environmental, social and economic concerns... are...
4 Pages(1000 words)Essay

India's Globalization and Economic Development

...India’s Globalization and Economic Development This paper will critically examine the theories or concepts of globalization, the competitive advantage of India in the global market, the non-polarity of globalization and the geopolitics of scarce natural resources. This study will also seek to address the role of identity politics and Diasporas in the global economic system and development of India. For this study to give out the relevant analysis of globalization of India, it will examine the extent and nature of integration of this country into the global economy along different...
5 Pages(1250 words)Essay

The Intellectual and Institutional Development of Globalization

...? The Intellectual and al Development of Globalization There are many forces in the world that challenge establishedmodels and practices of state sovereignty. These include the emergence of new policies, the reconfiguration of world trade into gigantic trading blocks, regionalism, and globalization among other factors. States are not what they used to be, and national governments are no longer the locus of power. They now have to divide power with a wide range of actors. Power is parceled out among different agents, both national and international (Friedman, 2008). There is a multiplicity of sites, some real, some virtual, where national transactions are governed. The states now share...
7 Pages(1750 words)Essay

Development and Globalization

...Development and Globalization Question The development of a country can be measured using a number of different approximation methods. However, use of GDP as a measure of development has been found to be inappropriate. This is because; scholars assert that estimation of GDP growth involves a lot of inaccuracy and untrue data. For instance, in the year 2008, the data provided by the GDP about the recession was later proved to be wrong and inaccurate by economists. Therefore, measurement of the GDP involves many errors which at times are meant to give a better and positive picture to economists (Roberts & Hite, 2007, 6). Estimation of GDP growth also leaves out a lot of...
7 Pages(1750 words)Term Paper

Community Development and Globalization

...Community Development and Globalization 2008 Introduction Although globalization has existed since colonial times, through trade relations between nations, present day globalization has been enabled through modern technology and international trade. The main agent of globalization has been the multinational corporations in the private sector where companies, fueled by the bottom line, expand globally in search of new markets, low cost labor and a fewer restrictions on production. Globalization is seen in much of the world as a double edged sword. There are positive elements of globalization that...
10 Pages(2500 words)Essay

Part A: an annotation of globalization and development(attach in my panel) Part B: A critical commentary on the given paragraph(related to capitalist society)

...Part Annotations on Globalization and Development Globalization is used to define the increasing economic integration between the different nations of the world. This increased economic integration is visible through the dramatic growth in the flow of goods, services and capital across national borders (Swift,Clarke ,Czerny, 2003). One important aspect of the process of globalization is the increased share of the national output devoted to exports and imports. The continuous drop in transportation and communication costs, along with technological developments, has greatly facilitated the process of globalizations...
8 Pages(2000 words)Essay

Sociology of Development and Globalization

...Measures of poverty and/or inequality are measured in numerous ways on an international level, the measuring of poverty with income ratio’s as isfrequently used in the United States provides a narrow view of international poverty. Poverty can be described as a deprivation in well-being, with the narrower definition as a deprivation or lack of essential goods and services, not necessarily income. Using Sens’ capability approach to evaluate well-being in society we are able to measure poverty using an individual’s vulnerability to risk, lack of voice in society and powerlessness to indicate poverty and inequality. Further indicators of poverty would be maternal and child mortality, communicable diseases, and debt. The human...
6 Pages(1500 words)Essay

Development and Globalization in Africa

...on Large Dams in Contemporary Africa." Water Alternatives 2, 2009. no. 1: 148-160. Cheng, Xing, Huang Jingjing, and Han Xianquan. "Research on the environmental effects of GB-SAR for dam monitoring." Advanced Materials Research 2014. no. 919-921: 392. Dallas, Helen F.1, 2,, and Nicholas3 Rivers-Moore. "Ecological consequences of global climate change for freshwater ecosystems in South Africa." South African Journal of Science 110, 2014. no. 5/6: 48-58. DeGeorges, Paul Andre, and Brian Kevin Reilly. 2008. A Critical Evaluation of Conservation and Development in Sub-Saharan Africa. Lewiston: Edwin Mellen Press, 2008. Douglas, Tanis. Green” Hydro Power. Understanding Impacts, Approvals,...
9 Pages(2250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Globalization and development for FREE!

Contact Us