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.
Recent globalization has been characterized by a decline in the costs of cross-border trade in farm and other products. It has been driven primarily by the information and communication technology revolution andâin the case of farm productsâby reductions in governmental distortions to agricultural production, consumption and trade. Both have boosted economic growth and reduced poverty globally, especially in Asia.