Globalization refers to the tendency of a movement towards a worldwide investment environment and the integration of national markets through the break down of protectionist barriers.

In 1949 Peoples' Republic of China had a planned and closed economy. The first real evidence of China's push towards globalization was in 1978 when Deng Xiaoping introduced reforms commonly known as the "open door" policy to the economic system, with decollectivization of agricultural system and increasing the role of market mechanism. Major goals of this process were to expand exports and rapidly overcome deficiencies in transportation, communications and an inefficient State owned sector. Over the last 10 years this phenomena of Globalization has picked up in pace rapidly with government focusing on trade liberalization, foreign investment and the move towards secondary, tertiary and export industries which have become the main drivers of economic growth in China. The recent accession into the WTO has strengthened...