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.
Also, the direct impact of Brazil, Russia, India and China on global demand is still limited. Even China is only 12 percent of global G.D.P. in current dollars. So loosing 4 percent of China G.D.P. is equivalent to 0.5 percent global G.D.P.. which would be painful but not dramatic. And the Russian economy is only a quarter the size of China's economy so the impact of a slowdown in the Russian economy would be virtually trivial. Potentially, we should instead worry about the indirect effect of the slowdown.