Bìznes Inform (Oct 2023)
Assessing the Current State, Problems and Prospects of China’s World Economic Leadership
Abstract
The aim of the article is to analyze the current state of China’s economy, study its impact on the global market and determine the main prospects for further development of the country through the prism of world leadership. The article substantiates the growing influence of China on the world economic processes; the key factors contributing to the country’s approach to the leading position in the global economy are presented; the dynamics of the main macroeconomic indicators of China, such as GDP, GDP per capita, volumes of high-tech exports, trade balance and investment volumes, are highlighted. The country’s place in the Global Innovation Index is determined and some indicators by which China received the highest marks in 2023 are allocated, in particular, indicators of knowledge and results of scientific research, institutional environment and market experience. The foreign economic activity of China is considered, indicating the leading trading partners of the country and the commodity structure of export-import operations. The initiative «One Belt, One Road», which is aimed at stimulating international cooperation of the country and strengthening its economic ties with other countries and regions, is considered. Within the framework of the initiative, cooperation between Ukraine and China was analyzed, which includes investment projects for infrastructure development, the creation of industrial parks and technological development zones, as well as scientific, technical, military, humanitarian, and cultural cooperation. Further directions of development of the economy of Ukraine, aimed at deepening cooperation between the two countries are proposed, in particular: accelerating economic transformations, improving the investment climate and creating joint projects in the energy and agricultural spheres. It is proved that, despite certain difficulties within the country and problems in the global economy, China remains a key player on the world stage owing to its innovative activities, strong production potential and active role in the international economic initiatives.
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