China And Globalization

863 Words 4 Pages
The economic world is increasingly interconnected. Globalization has taken place in many areas of the society; consumers have broaden the taste for goods and services from all over the world and have appropriated of other cultural identity being less reluctant to accept the differences. It is very common to find a sushi restaurant in Miami or a French bistro in New York. Most of the apparel and footwear we usually wear are made abroad. Cars, appliances, furniture, tools and many other goods that come from other countries have been introduced into the American market having more or less success. It is said that, for a product to have success in terms of sales and profit figures, it must be accepted into the United States, which possesses the …show more content…
It has been fueled the world economy alongside the most developed countries in the world. Regardless of their political tendencies or the fact that China is not considered a close ally of the United States in other fields, commercial and economic ties between China and the USA has been increasingly tighten all over the past …show more content…
For example, a Chinese investor would not be able of getting dollars if the export of goods and services from China to the USA does not exist. However, since dollar is the currency accepted by convention in the overall (with some exceptions) world trade, a Chinese investor could get dollars by exporting goods and services from China to other countries in which trade in dollars is allowed. Another advantage of trade is that many companies in the United States can purchase goods produced in China at lower prices and resell them in the market for goods and services in the USA; even though this action would not add to the GDP of the USA, it does add capital to firms and households by adding a net profit from these transactions. All these advantages help to keep the cost of living down for American, while make more and more Chinese to jump into a growing middle class. Trade between China and the USA is certainly a win-win relationship in which some political tensions should be released for the well-being of these two countries and also for the benefit of the entire

Related Documents