China Case Study 19/20 Intro: Globalisation is the process of increasing level of economic integration between countries leading to the emergence of a global market. Economic indicators of globalisation include trade in goods and services, financial flows, investment and transnational corporations, technology, and communication. Globalisation led to higher growth in world output which increased the standard of living, however, it has increased pollution and inequality. Furthermore, it has also led to a greater interdependence between countries. Globalisation is generally supported by governments of both advanced, emerging and developing countries. Large emerging countries, such as China, have embraced policies to liberalise their trade and promoted internal economic reforms to capture the gains from becoming more integrated with the global economy.