Britain's tabloid Sun newspaper had an superb article on Friday on the effect of globalization on China. Oliver Harvey, writing from Shenzhen in China, pointed out that only 25 years ago Shenzhen was a...
...sleepy, impoverished, fishing village. Workers in blue Mao tunics cycled to work for a pittance in the bleak paddy fields on Communist farms. Today, the city is the heartbeat of the new China - a throbbing metropolis of soaring skyscrapers and ten million soulds that has become the workshop of the world.
The paper illustrated how China is cutting the cost of clothing with a picture of a man and woman with each bit of clothing priced. The article also explained that Chinese success does not mean we in Britain will lose out jobs-wise. It concluded with a Factfile:
China's economy is growing three times faster than America. It uses 40 per cent of the world's concrete and 25 per cent of its steel. Produces 16billion pairs of socks a year. Is currently building 200 airports. Built more power stations last year than exist in Britain. Makes 40 per cent of the world's microwaves, 30 per cent of our TVs, one in four washing machines.
All this is excellent news in the fight against poverty - and China's integration into the world economy should be welcomed too from the perspective of promoting peace and stability around the globe.
Originally published on the Globalization Institute Blog by Penelope Hawthorne.