Impact of Economic Globalization on China’s Social Welfare Policy

Abstract

Economic globalization has to date become a worldwide trend. In the process of joining this trend, China has kept increasing foreign trade and absorbing more and more foreign capital. Economic globalization has raised the living standards of the Chinese people on the whole, but in the meantime widened the wealth gap among different regions, urban and rural areas, and industrial sectors. Under the impact of economic globalization, China shall do a good job during the construction of a social welfare system: give top priority to building a social assistance system, improve the modern social insurance system, perfect the labor protection mechanism and accelerate the social welfare construction in rural areas.

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