CHINESE ECONOMIC GROWTH IN 2008 AND 2020: INFRASTRUCTURE ACCELERATION AND JILIN PROVINCE INSTANCE
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Abstract
The paper elaborates on the issue of means carried out by the Chinese government in 2008 and the third and fourth quarters of 2020 after the coronavirus outbreak and following economically devastating lockdowns to substantially maintain and even increase the domestic economic growth. Herein the focus is on the infrastructure investment as one of the most efficient tools of boosting the economic growth and its practical implementation nationally in China last year. In the beginning, the economic recovery efforts of Chinese government in 2008 and 2020 are under scrutiny thereafter the author pays close attention to the infrastructure investment projects conducted in Jilin province, which is located in the Northeast of China. It is considered the striking example of the successful economic recovery in 2020 achieved by the advanced infrastructure construction due to the three main reasons. Firstly, the decrease in the industrial output seriously undermined the economic performance of the province last year indeed. However, the infrastructure investment helped to avoid the negative economic growth and finally show up the positive dynamics of local economy in 2020. Secondly, having being at the core of national industry fifty years ago, Jilin province has already lost its status as the driver of Chinese economy. Nowadays it is the recipient of financial subsidies from the central government. That is why the infrastructure investments in the province have to provide a framework for the development of new industries and improvement of the current ones, thus giving the region a change to become economically successful. Thirdly, new infrastructure definitely changes the outlook of the province and reshapes the image of it. Infrastructure creates the grounds for the stable economic growth in the near future. Therefore, in the following years, the province will face the boost of urbanization and become the more advanced production base attracting both local and foreign investors.
How to Cite
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China, Chinese economic growth, infrastructure investment, Jilin province, Chinese infrastructure investment, Jilin economic development
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