China opened its borders for trade in the year 1978. It had increased more than 4 times its original value. The net asset value of China has also increased considerable in the recent years. Current the Chinese GDP is growing rapidly and there is increasing weight of Chinese growth that is felt by other nations of the world. China’ share of world trade is not only in consumer goods it is also in electrical and other machines. This includes a wide array of products that are consumed in china (Postiglione, 2015). These are a cyclic synchronization and many of the world production are currently dependent on the Chinese production and manufacturing. Owing to the increase in production there is also increase in the import demand into the nation China is found to take up more than 20% of the world’s palladium and among consumption. Any tightening policy within the nation of China will impact its import and export process across the world. Hence any changes in China would cause a profound impact in the countries across the world. China is a dominant world player in terms of production and consumption. There are many benefits and disadvantages such as reduction in pricing of the products. There is heavy competition in the world markets owing to the growth of China.
On August 11th 2015, there was surprise devaluation of the Chinese Yuan. This had caused a downward spiral of events in the nation. The reason for the financial crisis in China is because of the financial system and margin trading in the nation. In the crisis of 2008, the government of China decided to pump money into the system. They decided to inflate the bubble by pumping capital monetary inflow into the financial stock market. This lead to increase in the debt and the forecasted outlook for the services and the products started to dwindle. This fear and insecurity about the system caused the people to panic and there were fears that China was over trading in the markets. This leads to subsequent failures in the stock market performance.
Owing to the theories of globalization inventory varies more than the sales. In a micro environmental setting, the manufacturing of sales varies more than the wholesale settings. This causes impact on the retail sales of the product. From analysis of the supply chain, consumer sales vary because of the manufacturing.
This was observed while analyzing the manufacturing, wholesale and retail sales of the product. These suggest that these impacted the household consumption of the products that translated into larger downturn of the manufacturing.
Globalization has been imperative for sustenance of the companies and countries across the spectrum. Growth of free trade has caused changes not only in one aspect. It has brought changes in all the endeavors of people across society. It has been said that globalization is the process of international integration that arises from interchange of world views or products or others aspects of culture (Alon, Jaffe, and Vianelli, 2013). It cannot be delineated to any one aspect. It has caused a number of positive growths across the countries and has caused improvement in the quality of life of the people. However this aspect of globalization is not perfect. There are some inherent gaps and vulnerability to this aspect of globalization. Globalization theory provides insight about the various aspects related to globalization (Beck, 2015). In the global markets the financial crisis of China in 2015 was found to resonate with countries across the spectrum.
The purpose of this analysis is to look into globalization theory and explain in detail about the Chinese economy impact on the world trade and other economies of the world. For this analysis there is definition of globalization that is provided along with empirical data to explain about the nuances of this situation.
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