An important trend occurring in the world economy is the process of globalization. Globalization is the progressive integration between national economies and the breaking down of barriers between trade and financial flows around the world, which will eventually lead to the emergence of a single world market. Globalization has affected many different nations in different ways, depending on their degree of development and extent to which they are open to the flows of the world economy. China, which is one of the developing countries, is said to be the next economic super power. …
