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China: socio-economic development and foreign trade
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China: socio-economic development and foreign trade
Annotation
PII
S032150750012178-7-1
DOI
10.31857/S032150750012178-7
Publication type
Article
Status
Published
Authors
Mingjun He 
ORCID: 0000-0001-9700-2077
Occupation: Senior lecturer
Affiliation: Kunming Polytechnic University, China
Address: China,
Lyudmila V. Shkvarya
ORCID: 0000-0001-6653-939X
Occupation: Professor, Department of Political Economy, RUDN University
Affiliation: RUDN University
Address: Russian Federation, Moscow
Xizhe Wang
Occupation: Post-graduate student, Department of Political Economy, RUDN University
Affiliation: RUDN University
Address: Russian Federation, Moscow
Edition
Issue 11
Pages
11-16
Abstract

The purpose of the article is to identify the factors that providing China, containing a population of millions, the opportunity for stable economic and social development and improving living standards from 2000 to 2019.

 

The novelty of the article is to justify the need and study the potential of China to implement new development model in the medium term. It applies both internal economic issues related to the need for long-term socio-economic growth, and external issues related to the transformation of the world economy and trade. The result of the study shows that China adapts to shocks and crises in a flexible manner, by which to make qualitative changes in economy and politics.

 

It is established that, in addition to quantitative indicators we can also discuss qualitative changes in the Chinese economy, such as improving the quality of life, development of innovative research and digital economy. In addition, it is found that due to both China's growing dependence on the global factors and the growing volatility, it is significant for China to implement new development model in the medium term based on multilateral agreements, such as the "The Belt and Road" initiative and the continuation of Internal structural transformations.

The authors justified a standpoint that China's economic situation is consistently improving due to the well-thought-out policy made by the Chinese leadership, with consideration of both modern theories and traditional approaches.

 

 

The article shows that China is constantly searching for new opportunities; therefore China appears as a pioneer not only in traditional economic activities, but also in the field of innovation and digital economy. Accordingly, the authors hold that the problems existing in Chinese economy will be overcome successfully.

Keywords
China, China's economy, socio-economic development, foreign trade, "One belt, one road"
Received
29.07.2020
Date of publication
24.11.2020
Number of purchasers
18
Views
14144
Readers community rating
0.0 (0 votes)
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References

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7. Skvarya L.V., Wang S. 2019. FEZ of China as a driver of foreign trade. Aziya i Afrika segodnya. № 12. (In Russ.) DOI: 10.31857/S032150750007658-5

8. Melanina M.V. 2016. The role of sanctions in modern conditions of globalization and their impact on the Russian economy. The Genesis of Genius. № 1. (In Russ.)

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10. Shkvarya L.V. 2019. Some aspects of Russian-Chinese relations in the second half of the XIX century. Part 1. Bylye Gody. Russian Historical Journal. Vol. 3, № 53. (In Russ.)

11. UNCTAD database. https://unctadstat.unctad.org/wds/TableViewer/tableView.aspx?ReportId=101 (accessed 05.05.2020)

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