Riabets, N
Kitaêznavčì doslìdžennâ 2021, 3:109-126
https://doi.org/10.51198/chinesest2021.03.109
Section: Political, Social and Economic Development of China
Language: Ukrainian
Abstract: 

Article is devoted to the research of modern features of China’s participation in such process as digital globalization. It is studied that digital products and technologies began to emerge at an unprecedented rate, helping to simplify and improve existing economic models and business processes. Accelerating digital modernization of the industrial structure, expanding opportunities for the use of digital innovations are vital for the transition to a fundamentally new economic development in the current conditions. It is identified, that industrial digitalization provided new sources of growth and reversed the downward trend in China’s potential growth. It has already brought significant benefits to the industry, as it increased productivity in the face of a shortage of labor, and contributed to the creation of high-productivity jobs in new high-tech sectors. It is established that in order to sustain further growth of economic welfare, the country needs to make transition to a new stage of development – based on innovations. The relevance of this conclusion was confirmed in practice by the mean of the analysis of some basic program documents and strategic plans of China such as the national program “Made in China 2025” (MIC-2025). The keen interest of the country’s in key technologies and the scientific fields, which is expressed, in particular, in huge growth of investment volumes during the recent years into the venture capital is noted. Going forward there is no room for doubt, that the digitalization will continue to rebuild the Chinese economy by increasing the level of its efficiency, softening though not reversing, and the declining tendency of possibility for development as the economy matures. As result it is drawn a conclusion about the high probability of further escalation of a global contest for world leadership between other developed countries and China.

Keywords: digital economy, digital globalization, economic growth, employment, global domination, high technology, industry, innovative development, productivity, venture fund

Full text (PDF)

References: 
  1. Accelerate Digital Business Transformation// U.S. Department of State. (2017) [Electronicresource]. – Mode of access: https://www.automation.com/en-us/articles/2017/digitalization-101-the-me.... – Date of access: 30.04.2021.
  2. Business analysis and digital transformation // IIBA (2017). [Electronic resource]. – Mode of access: https://www.iiba.org/globalassets/standardsand-resources/whitepapers-and.... – Date of access: 01.05.2021.
  3. China Academy of Information and Communications Technology (2019b) White Paper on Digital Economy Development of G20 countries. December.
  4. China Academy of Information and Communications Technology (2017c) Internet Development Trends Report. December.
  5. Digital China: Powering the economy to global competitiveness / McKinsey global institute. – 2017. – 17 p. – Mode of access: https://www.mckinsey.com/~/media/McKinsey/Global%20Themes/China/Digital%...
  6. Digitalization: The Means to a Successful Enterprise Outcome // Automation[Electronic resource]. – Mode of access: https://www.automation.com/en-us/articles/2019/digitalization-101-the-me.... – Date of access: 01.05.2021.
  7. Duncan H., Martosko D. America usurped: China becomes world’s largest economy – putting USA in second place for the first time in 142 years, Daily mail 09.10.2019, URL: http://www.dailymail.co.uk/news/article-2785905/Chinaovertakes-U-S-world....
  8. Innovation: Les chinois Alibaba & Tencent а l’assaut du Top 50 // Les numeriques. – 2018. – 17.01. – Mode of access: https://www.lesnumeriques.com/vie-du-net/innovation-chinois-alibaba-tenc...
  9. How Digital Transformation is Shaping a New China // China Telecom Americas [Electronic resource]. – Mode of access: https://www.ctamericas.com/digitaltransformation-shaping-new-china/.
  10. IDC says China’s ICT Market Faces Both Opportunities and Challenges amidthe COVID-19 Outbreak // IDC (2020). [Electronic resource]. – Mode of access: https://www.idc.com/getdoc.jsp?containerId=prCHE46045120.