Mykhtunenko, V, Zhukov, О
Kitaêznavčì doslìdžennâ 2021, 1:111-123
Section: Political, Social and Economic Development of China
Language: Ukrainian

The article examines the changing position of China in the world economy in the 90s of the twentieth century. It is noted that China at the present stage is one of the leading centers of the emerging world economy, concentrating a significant part of the economic potential of the planet. The article, based on the analysis of the dynamics of key economic indicators, assesses the change in China’s role in the world economy in the post-reform period. It is determined that China has become the leader of the world economy from the periphery. The rise of China’s economy was ensured by a successful combination of many external and internal factors. The article analyzes the causes of economic change in China. It is determined that the reforms of the 90s of the twentieth century. Сharacterized by rapid growth of economic power of China, improving the welfare of the population, as well as strengthening the place of the state in the international arena. The article notes that with the support of foreign investment in the early stages, China has become an investor. Despite its rapid economic growth, China has faced new challenges common to all developing countries. China’s rapid development has had serious environmental, economic, and political consequences, ranging from environmental pollution to increasing levels of corruption and lagging behind certain regions in the country’s overall pace of development. The article makes assumptions about what will happen to the world economy in the event of a recession in China. It is determined that despite the fairly rapid economic growth over the past 40 years and the forecast that in the future China’s economy will be the first in the world, but at the moment the Chinese economy is in a difficult situation. The sharp jump and focus on global production have helped the country succeed, but the consequences of using the economic model are already visible today. The conclusion of the article assesses the prospects of maintaining Beijing’s role as a world factory.

Keywords: China, global economy, innovative model, “Economic miracle”, “world factory”

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