Full Definition of ESSAY. transitive verb. 1. : to put to a test. 2. : to make an often tentative or experimental effort to perform: try. â esÂ·sayÂ·er noun. See essay defined for English-language learners. See essay defined for kids.
According to(), Globalization facilitates the economic development of the countries involved through increased cross border flows of trade, investment, and financial capital. Firstly, the main positive effect of globalization on china is, the labour costs and working environment. The labour cost in china is completely low all the time when compared to the rest of world. Most of the manufacturing companies all over the world targets china because of their labour costs.
China's shift to a market-oriented economy has buoyed its growth and rise to one of the largest economies in the world. China is the fastest growing economy with average annual growth rates of 10%. The Chinese are the largest exporters in the world. If China stays on pace and current trends in other economies continue, China will overtake the US as the world's top economy in a decade, if not a few years sooner. #1.