As an employee, you work for a company and receive pay. As a consumer, you spend money and receive goods and services. If you have savings, you invest and hope for a good return. How you play these roles pretty much decides your financial future. China, as a key player in globalization, affects all three.
For the whole society, Citizens of developed countries are better off because of globalization. US benefited from globalization greatly. Interest rate is low, that makes doing businesses easier. Prices are low, since China provides cheap merchandises, that makes consumers' lives easier. Supply chain get moved offshore, that makes the costs lower, and companies make more profit, stock prices go up.
But these benefits are not distributed evenly. Few pockets of population suffered. Depressed wages makes those without an investment portfolio poorer, even considering the lower prices. Interesting investment opportunities are abroad, domestic new ventures are harder to start. Governments, particularly US, do not really know how to handle this. You cannot wait until they figure this out for you.
As an employee, you must accept that you are competing and collaborating with people who are far away, not necessarily share your values, and not really respect your ways of life. Relentless improve yourself until you are the best in the world. Be adaptable and flexible so that you can switch lanes quickly, without knowing which lane to switch to before hand. Protectionism does not work, since trade barriers raise prices faster than your wages. It also weaken the “protected” industry and accelerate their demise.
Invest smartly. Those companies who exploit globalization will profit from it; others will peril. Put your investment money on the right companies. Reap the benefits from globalization, not be the victim of it. Influence your employer to be global conscious. Make sure you are on the right side of the equation, no matter what your employer does. Oh, yes. This assumes you have money to invest, based on the fact that you spend less than you earn.
The truth is that globalization can be good for everyone, but not always. Fate is in your hands, the best the government can hope for is not damaging the whole society. Push yourself to learn. Save and invest smart. You will be OK.