It looks at the Russian example and shudders. Like Russia, of course, China faces a daunting task of overhauling its state sector. Pragmatists like Premier Zhu Rongji are weighing what can best be done, and at what pace, to keep the delicate balance of helping the economy without destroying stability. It's one of the bigger challenges China's leaders now face. So if China was to become a full-fledged player in globalization, this would portend immense impacts on the existing world system.
China is, already, very much in the globalization game.
Exports play a huge role in driving its economic growth, as does foreign investment. That's why the sudden slowdown in foreign investment and export growth has China's leaders seriously worried. The concerns about pollution and resource depletion are totally valid. Even with all this effort, industry and the economy continue to grow - so China will do well if it can hold pollution levels to where they are now, rather than letting them get even worse. According to environmental and air pollution experts in Beijing, it's not likely to get much better over the next 10 to 20 years.