scholarly journals The Coronavirus Will Not Change the long-Term Upward Trend of China’s Economic Development

2020 ◽  
Vol 24 (5) ◽  
pp. 15-23
Author(s):  
X. Zhang
Keyword(s):  
Economic Development ◽  
Foreign Trade ◽  
Driving Forces ◽  
Developed Countries ◽  
Asia Pacific ◽  
Live Streaming ◽  
Chinese Government ◽  
Trade Relations ◽  
Online Sales ◽  
The Impact

The author investigates the impact of COVID‑19 and macro-policy adjustment on China’s economic development. The aim is to describe the situation and trend of China’s economic development before and after COVID‑19. The research method is the comparative data analysis. The study shows that in response to COVID‑19, the Chinese government, on the one hand, has accelerated its opening-up, taken the opportunity of fighting against the pandemic to provide medical assistance to and cooperate with other countries, and actively promoted the building of a community with a shared future for mankind and the process of globalization. On the basis of the Belt and Road Initiative and multilateral, regional, and subregional cooperation mechanisms such as the United Nations, Shanghai Cooperation Organization, BRICS (Brazil, Russia, India, China, South Africa), G20 (Group of 20), and APEC (Asia-Pacific Economic Cooperation), China and the Eurasian Economic Union began to cooperate more frequently and the trade relations between Japan, South Korea, and European developed countries became closer. Meanwhile, committed to building a global interconnection partnership, China actively participates in global economic governance and provides various public products. The Chinese government has proposed “Six Guarantees” on the basis of “Six Stability”. In order to achieve the purpose of stabilizing foreign trade and expanding imports, China has imposed various measures to accelerate the liberalization and facilitation of international trade and investment, such as implementing the new version of the “Foreign Investment Law”, establishing free trade zones, and promoting its experience and organizing international import expositions. Additionally, the Chinese government also implemented targeted fiscal and monetary policies, increased support for enterprises, especially small and medium-sized enterprises, and promoted the construction of “new infrastructure” and innovation of business model, which have formed the driving forces for the transformation of the economic development model in China from traditional business to cloud business, from traditional marketing to live streaming marketing, from traditional sales to online sales. The author concluded thatChina’s adjustment of macro policies in response to COVID‑19 was effective and played an important role in the resumption of production and life, stabilizing foreign trade activities, releasing domestic demand and promoting stable and sustained growth of the economy

scholarly journals The Impact of Foreign Trade Policy on China's Economic Development

2021 ◽  
Vol 5 (1) ◽  
pp. 25-35
Author(s):  
Shi Ike ◽  
Natalia Epova
Keyword(s):  
Economic Development ◽  
Foreign Trade ◽  
Trade Policy ◽  
World Economy ◽  
Regulatory Control ◽  
Foreign Trade Policy ◽  
Economic Relations ◽  
Trade Relations ◽  
The World ◽  
The Impact

The importance of foreign trade and its impact on the level of economic development of both individual states and the world economy as a whole is steadily increasing. The successful or unsuccessful development of foreign trade relations is largely determined by the state's policy in this area, the use of various tools and methods. China, having begun to reform the economic system, pursued the goal of increasing the competitiveness of the national economy. For this purpose, foreign trade relations with other countries were actively developed in accordance with the interests of China and the priorities of economic development. Over a long period in China was dominated by autarkic tendencies in the sphere of foreign relations, which contradict the idea of integration for joint solutions to existing problems and the liberalization of foreign trade. Since the late 70s, China has realized the need to connect the country to the processes taking place in the world economy and carry out reforms, an important part of which was the implementation of a strategy for the development of foreign economic relations. The new policy assumed the extraction of maximum benefits from cooperation with foreign partners, the modernization of the economy using best practices in the economic, scientific and technical spheres, the diversification of production, the introduction of effective management models. China's foreign trade policy is implemented through a variety of regulatory, control and incentive methods. This makes it possible to take into account the characteristics of specific territories and use the most appropriate tools to achieve the best result. Relevance and insufficient knowledge of the impact of trade on economic development of China in the development of global value chains and the trend towards a multipolar world system, the development of the prospects of transformation of China's foreign trade, led to the selection of topics for articles.

Foreign Trade Regimes and Economic Development: India. By Jagdish N. Bhagwati and T.N. Sirinivasan. New York Columbia University Press (Published by the National Bureau of Economic Research 1975) 261 pages.

1977 ◽  
Vol 16 (1) ◽  
pp. 112-114
Author(s):  
Abdur Razzaq Shahid
Keyword(s):  
New York ◽  
Economic Development ◽  
Foreign Trade ◽  
Developed Countries ◽  
Exchange Rate Policy ◽  
Economic Research ◽  
National Bureau ◽  
Columbia University ◽  
The Government ◽  
Exchange Control

This volume on India is one of a series of research projects on exchange control, liberalization, and economic development, undertaken for many less developed countries. The study deals with three major topics: exchange control, liberalization, and growth. First, under 'The Anatomy of Exchange Control', the methods of allocation and intervention in the foreign trade and payments practised by the government during the restrictive period 1956-66 and their economic impact are discussed. Then, a detailed analysis of the 'Liberalization Episode' which covers the policies in the period 1966-68, including the June 1966 devaluation, and the episode's effect on price level, economic activity, and exports is given. Finally, the overall growth effects of the foreign trade regime (broadly defined as exchange rate policy plus the frame-work of relevant domestic policies such as industrial licensing), and their possible contribution to India's rather unsatisfactory economic performance are examined.

scholarly journals Challenges and Sustainability of China’s Socio-Economic Stability in the Context of Its Demographic Development

Societies ◽  
2021 ◽  
Vol 11 (1) ◽  
pp. 22
Author(s):  
Andrea Čajková ◽  
Peter Čajka
Keyword(s):  
Economic Development ◽  
Pension System ◽  
Population Policy ◽  
Developed Countries ◽  
Economic Stability ◽  
Demographic Development ◽  
Demographic Challenges ◽  
Family Behavior ◽  
Socio Economic Development ◽  
The Impact

Like many developed countries in the world, China currently faces many serious demographic challenges that pose a potential risk to the country’s socio-economic development and stability. The current demographic development and trend is characterized by a change in the reproductive behavior of the population, characterized by a decline in birth rates, a change in family behavior, and a shift in the value system. This paper is aimed at identifying the impact of population policy and the degree of its influence on both the economic and social system of the country. Based on a deterministic approach, the findings reveal and demonstrate the serious demographic challenges facing China, and we are noting that there is no guarantee that parametric adjustments, such as shifting the retirement age, will de facto ensure the financial health of the pension system by preventing bankruptcy. We point out the risks and prospects for the sustainability of China’s socio-economic development based on an analysis of past and current Chinese demographic policy.

scholarly journals The Innovation-Driven Impact on Economic Structure Transition. The Case of China

2017 ◽  
Vol 53 (4) ◽  
pp. 9-26
Author(s):  
Hailun Zhang ◽  
Sheng Xu
Keyword(s):  
Economic Development ◽  
Driving Force ◽  
Economic Structure ◽  
Developed Countries ◽  
Structure Transition ◽  
Tertiary Industry ◽  
Industrial Sectors ◽  
Belt And Road ◽  
The Impact ◽  
Plsr Model

AbstractThe research measures the driving force of innovation in economic structure transition. In order to change the pattern of economic development, China is implementing a strategy of innovation-driven development. China’s capacity of innovation has been increasing, especially since 2012, and China’s innovations have taken a leap-forward development. Nowadays, innovation has become a main driving force in China’s economic development and hi-tech industries particularly make a great contribution. Although China’s tertiary industry has been dominant and its share in three industrial sectors has been exceeding 50% since 2015, a problem still exists in China’s economy that the proportions of primary and secondary industries are relatively higher compared with developed countries. In this paper we use PLSR model to measure the impact of innovation on China’s economic structure transition. It is found that innovation can expand the tertiary industry through shrinking the proportions of primary and secondary industries, transforming China’s economic structure into a more advanced pattern. Additionally, China is also devoting itself to the “Belt and Road Initiative”, which should be combined with China’s domestic innovation-driven development and realize sustainable development of economy worldwide.

CONCEPTUAL PRINCIPLES OF ACHIEVING INTELLECTUAL LEADERSHIP

2021 ◽  
Vol 6 (2) ◽  
pp. 100-104
Author(s):  
Liudmyla Tsymbal
Keyword(s):  
Economic Development ◽  
Intellectual Capital ◽  
Global Economy ◽  
Physical Capital ◽  
Developed Countries ◽  
Educational Process ◽  
High Tech ◽  
The Impact ◽  
Intellectual Leadership

The article identifies the key conceptual foundations for the formation of intellectual leadership of economic entities, including countries as specific actors in the global economy. Thorough preconditions for increasing the level of economic development and the impact of education have been identified. It is determined that historical concepts and modern realities of economic activity only actualize the role of education and enlightenment in the economic development of the national economy and ensuring its competitiveness. The strategies of increasing the competitiveness of individual countries of the world are analyzed, their key priorities in the conditions of formation of the knowledge economy are determined. The evolution of views on the role of human and intellectual capital in increasing the welfare of countries, the impact on GDP and other macroeconomic indicators is described. The ratings of countries are analyzed, in particular by the level of investment in intellectual capital and the structure of their GDP, which confirms the dominance of science-intensive economic activities. In addition, it was determined that the leading countries are characterized by increasing the role of knowledge-intensive activities, increasing the share of intangible assets, redistribution of capital of leading international companies and increasing research spending, increasing investment in human and intellectual capital, increasing exports of high-tech products. Analytical assessment confirms the advanced development of science-intensive industries in countries with developed economies, which creates the need for training and retraining of specialists needed for such industries. In modern conditions, the educational process ceases to be predominantly the prerogative of young people, and becomes a lifelong process, which increases spending on education in developed countries, but without denying the significant asymmetries on this indicator. Research confirms the direct relationship between the quality of human and physical capital and economic development, which is typical of highly developed countries, one of the main reasons for the development lag of the poorest countries. In addition, the article substantiates the key factors of intellectual leadership and their impact on the development of economic development strategies.

scholarly journals Currency liberalization and its impact on the economy of Ukraine

2020 ◽  
Vol 2020 (3) ◽  
pp. 25-40
Author(s):  
Valentyna Harkavenko ◽  
◽  
Galina Yershova ◽  
◽  
Keyword(s):  
Economic Development ◽  
Financial Sector ◽  
Developed Countries ◽  
Raw Material ◽  
Negative Consequences ◽  
Economic Activities ◽  
Depth Analysis ◽  
European Standards ◽  
Business Entities ◽  
The Impact

Examining the transformation of financial relations in Ukraine, in the previous article the authors analyzed the impact of foreign capital on the economic development of this country’s economy and found that its concentration in certain economic activities contributed to consolidating its raw material orientation. The authors conclude that due to the distorted model of Ukraine's economic development, successful practices of developed countries to attract foreign investment and reform the financial sector are ineffective in this country’s economy. Continuing the study of the transformations of financial relations in Ukraine, which are taking place under the influence of the approximation of domestic legislation to European standards, the authors could not leave aside the question of impact of the liberalization of currency legislation on the economy. Given that currency liberalization significantly affects the behavior of foreign investors, the authors conducted an in-depth analysis of legislative changes in the financial sector, and described the main results of their implementation. The positive and negative consequences of currency liberalization in Ukraine for business entities and the economy in general are analyzed. Particular attention is paid to the risks associated with the liberalization of operations related to the movement of capital and the behavior of non-residents in the financial market of Ukraine. It is concluded that Ukraine’s economy with its distorted development model belongs to the financially and institutionally weak ones, hence is not presently ready to liberalize its monetary relations, which could only deepen the deformations and reduce resilience to macroeconomic imbalances.

An evaluation of student satisfaction of the joint master programs at Foreign Trade University in Vietnam

2020 ◽  
Vol 20 (2) ◽  
Keyword(s):  
Economic Development ◽  
Foreign Trade ◽  
International Education ◽  
Student Satisfaction ◽  
International Collaboration ◽  
Perceived Value ◽  
Private University ◽  
Developed Countries ◽  
Training Quality ◽  
Student Expectation

Globalization has become increasingly popular. Nevertheless, education in Vietnam has lagged behind developed countries. Thus, one of main reasons for Vietnam to engage in international collaboration is to improve training quality and enrich the human resource for economic development. This study aims to assess joint master programs at the Faculty of International Education at Foreign Trade University based on the overall student satisfaction. The SSI model developed by Temizer and Turkyilmaz (2012) to measure student satisfaction at private university is applied in the research. The data of this research are analyzed by the SPSS 20.0 software. The online questionnaires in the research are used for collecting opinions of joint master students at the Faculty of International Education at Foreign Trade University. From the analysis of 237 respondents, the results show that image (IM), perceived value (PV), perceived quality (PQ), and student expectation (EXP) impact on student satisfaction, in which perceived value and image mostly affected the overall satisfaction of students coming from joint master programs at Foreign Trade University.

scholarly journals British-Slovak Foreign Trade Relations: Consequences of Brexit

2019 ◽  
pp. 341-353
Author(s):  
Marcel Kordos
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
Policy Instruments ◽  
Current Status ◽  
The European Union ◽  
Economic Relations ◽  
Trade Relations ◽  
The Future ◽  
The Uk ◽  
The Impact

The possibility of the UK's withdrawal from the European Union has never been more realistic and up-to-date since joining the European Communities (EC) as it is today. The UK is facing a unique situation. At present, this depends solely on the capabilities of European and British government officials, who negotiate the terms of withdrawal and future cooperation between the two entities. The main goal of this paper is based on the British – Slovak trade relations development analysis to figure out their impact within the Brexit consequences on the future Slovak economy and its current status in international economic relations. The paper also provides a basic overview of Brexit process and its possible impact on the EU's further functioning. Basic data will be drawn from generally accepted institutions, evaluating the UK and Slovak trade and economic performance. To accomplish this goal, methods such as analysis and comparison to illustrate the UK-Slovak foreign trade development, synthesis and logical deduction to discuss the Brexit impact on Slovak economic environment in the future are to be used; data from scientific and professional publications, periodical and non-periodical press. The paper presents the results of an empirical analysis, which showed that because of the size of economic relations between Slovakia and the United Kingdom and the number of goods and services being exported to the UK, the «hard» Brexit will be very unfavourable for Slovak foreign trade due to the possible tariffs being imposed. The research empirically confirms and theoretically proves that it can cause a significant weakening and slowdown in the Slovak economy. Either way, the upcoming Brexit process, that is the withdrawal of Great Britain from the European Union, would have a major impact not only on British, European but also on the world economy. The impact of Brexit on Slovakia's economy will not only be in reducing the possible growth of the economy, but also in employment and price increases. Keywords: EU single market, Britain's withdrawal from the EU, foreign trade policy instruments analysis, international economics, Slovak economy slowdown prediction, Slovak foreign trade commodity structure analysis.

scholarly journals Trade liberalization and trade facilitation: Two paths to one goal

2021 ◽  
Vol 12 (1) ◽  
pp. 167-183
Author(s):  
Natalia A. Vorontsova ◽  
◽  
Irina A. Klimova ◽  
Keyword(s):  
Trade Liberalization ◽  
Developing Economies ◽  
Developed Countries ◽  
Legal Regulation ◽  
Point Of View ◽  
Least Developed Countries ◽  
Trade Facilitation ◽  
Trade Relations ◽  
Long Run ◽  
The Impact

The article defines trade liberalization and trade facilitation, highlighting their characteristics, some of which are inherent to both processes, while others differ. The authors analyze the impact of transborder production in a number of South-East Asian states on the development of their economies, as well as the role of trade facilitation in these processes. The article dwells on the economic impact of trade liberalization and facilitation, their synergistic interaction and peculiarities from the point of view of legal regulation. The authors come to the conclusion that trade liberalization and facilitation generally aim to achieve a common goal of promoting world trade, which in the long run will help to address one of the global problems — an immense wealth gap between developed and least developed countries. To achieve this goal, both liberalization and trade facilitation use their own tools, a set of practical measures enshrined in international legal instruments. At the same time, implementation of these measures often involves major risks, especially for developing economies. As a result, a strategy for implementing trade liberalization and facilitation measures needs to be developed, which would define the sequence of steps for each state individually and would take into account all the potential difficulties that a state may have while opening up the market. It is also necessary to create and improve the relevant regulatory and institutional framework for trade relations and implementation of reforms.

scholarly journals THE RESEARCH ON INTERFACE BETWEEN LITHUANIAN DIRECT INVESTMENT ABROAD AND FOREIGN TRADE FLOWS

2016 ◽  
Vol 14 (1) ◽  
pp. 136-151
Author(s):  
Anžela KOZLOVA ◽  
Algita MIEČINSKIENĖ
Keyword(s):  
Foreign Trade ◽  
Direct Investment ◽  
Developed Countries ◽  
Trade Flows ◽  
General Development ◽  
Causality Test ◽  
Import And Export ◽  
The Developed Countries ◽  
The Impact ◽  
Research Analysis

The scientific research results related to foreign trade and direct investment abroad (DIA) are discussed in the article. The relation of the direct investment abroad and foreign trade is still under the discussion as there is no clear answer whether foreign trade is supplemented or replaced by the direct investment abroad. Since 1997 the flows of the direct investment abroad increased greately in Lithuania. Consequently, it is important to define the link between the DIA and foreign trade considering each country separately. Direct investment abroad and trade links in Lithuania in 1997–2014 are analyzed in the article. The research analysis involves Lithuanian direct investments in the developed countries except some countries, such as Belorus, Russia and Ukraine. It is defined that there is a positive bilateral link between Lithuanian direct investment abroad and foreign trade. It is also observed the impact of general development of Lithuanian direct investment abroad (considering certain countries) on the countries economy itself – imports can exceed exports. Engle-Granger causality test is applied in the research paper for the purpose of defining the impact of the DIA on the import and export range.

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