The Impact of Globalization on Chinese Economy

School of Economics and Management, Northeast Electric Power University, Jilin, 132011, China

^* Corresponding author: 2020305060215@neepu.edu.cn

Abstract

This paper delves into the multifaceted impacts of globalization on China's economy, with a focus on three key dimensions: economic growth, trade dynamics, and regional development disparities. Initially, globalization has propelled China's economic expansion at a remarkable pace, fostering numerous opportunities and driving unprecedented growth. Secondly, it has facilitated the integration of China into the global trade network, fostering robust trade flows and substantial increases in imports and exports, thereby attracting significant investments and technological advancements. However, alongside its benefits, globalization has also exacerbated regional imbalances within China. These imbalances manifest in population displacement, a skewed industrial landscape, and a widening wealth chasm. Therefore, for sustainable and inclusive economic advancement, China must continue to engage with globalization while actively addressing these regional disparities. Future endeavours should prioritize achieving equilibrium in economic development and industrial structure across regions, ensuring that the benefits of globalization are equitably distributed throughout the nation. Such a balanced approach is essential for fostering long-term prosperity and resilience in China's evolving economic landscape.