"Asia and Africa today"
- is a scientificl monthly journal (in Russian)
of the Russian Academy of Sciences
Included in Russian Science Citation Index on
WoS platform, and EBSCO Publishing.
ISSN 0321-5075. Published since July 1957.

"Asia and Africa today" № 11 2020

Title

CHINA: SOCIO-ECONOMIC DEVELOPMENT AND FOREIGN TRADE

DOI

10.31857/S032150750012178-7

Аuthor Mingjun HE (China)
PhD (Economics), Senior lecturer, Faculty of Law, Kunming Polytechnic University. China, Kunming, Chengdong district, Qingming nanlu str., 727 ( This email address is being protected from spambots. You need JavaScript enabled to view it. )

Ludmila V. SHKVARYA
Dr.Sc. (Economics), Professor, Department of Political Economy, RUDN University, Russia ( This email address is being protected from spambots. You need JavaScript enabled to view it. )

Xizhe WANG (China)
Post-graduate student, Department of Political Economy, RUDN University, Russia ( This email address is being protected from spambots. You need JavaScript enabled to view it. )
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"
Pages 11-16