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Assessing the Current State, Problems and Prospects of China’s World Economic Leadership
Atamanchuk Z. A., Kvasnytska O. H., Hehamian L. R.

Atamanchuk, Zоryna A., Kvasnytska, Oleksandra H., and Hehamian, Lusine R. (2023) “Assessing the Current State, Problems and Prospects of China’s World Economic Leadership.” Business Inform 10:38–44.
https://doi.org/10.32983/2222-4459-2023-10-38-44

Section: International Economic Relations

UDC 339.9:316.46]`06(510)

Abstract:
The aim of the article is to analyze the current state of China’s economy, study its impact on the global market and determine the main prospects for further development of the country through the prism of world leadership. The article substantiates the growing influence of China on the world economic processes; the key factors contributing to the country’s approach to the leading position in the global economy are presented; the dynamics of the main macroeconomic indicators of China, such as GDP, GDP per capita, volumes of high-tech exports, trade balance and investment volumes, are highlighted. The country’s place in the Global Innovation Index is determined and some indicators by which China received the highest marks in 2023 are allocated, in particular, indicators of knowledge and results of scientific research, institutional environment and market experience. The foreign economic activity of China is considered, indicating the leading trading partners of the country and the commodity structure of export-import operations. The initiative «One Belt, One Road», which is aimed at stimulating international cooperation of the country and strengthening its economic ties with other countries and regions, is considered. Within the framework of the initiative, cooperation between Ukraine and China was analyzed, which includes investment projects for infrastructure development, the creation of industrial parks and technological development zones, as well as scientific, technical, military, humanitarian, and cultural cooperation. Further directions of development of the economy of Ukraine, aimed at deepening cooperation between the two countries are proposed, in particular: accelerating economic transformations, improving the investment climate and creating joint projects in the energy and agricultural spheres. It is proved that, despite certain difficulties within the country and problems in the global economy, China remains a key player on the world stage owing to its innovative activities, strong production potential and active role in the international economic initiatives.

Keywords: China’s economy, exports and imports of goods, high-tech exports, foreign direct investment, Global Innovation Index, «One Belt, One Road».

Fig.: 6. Bibl.: 15.

Atamanchuk Zоryna A. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Economic Relations, Vasyl’ Stus Donetsk National University (21 600-richchia Str., Vinnytsia, 21021, Ukraine)
Email: [email protected]
Kvasnytska Oleksandra H. – Student, Vasyl’ Stus Donetsk National University (21 600-richchia Str., Vinnytsia, 21021, Ukraine)
Email: [email protected]
Hehamian Lusine R. – Student, Vasyl’ Stus Donetsk National University (21 600-richchia Str., Vinnytsia, 21021, Ukraine)
Email: [email protected]

List of references in article

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Trofymchuk, A. P. “Perspektyvy pryiednannia Ukrainy do proektu «Odyn poias, odyn shliakh»“ [Prospects for Ukraine Joining the One Belt, One Road Project]. Mizhnarodni vinosyny. Seriia «Ekonomichni nauky». 2016. https://intrel.lnu.edu.ua/wp-content/uploads/2016/09/3060-11225-1-PB.pdf
Povoroznyk, V., and Perebyinis, V. “Proekt «Odyn poias - odyn shliakh»: mozhlyvosti dlia Ukrainy“ [One Belt One Road Project: Opportunities for Ukraine]. Mizhnarodnyi tsentr perspektyvnykh doslidzhen (MTsPD), 2015. https://www.icps.com.ua/assets/uploads/images/files/china_project_s.pdf
Shepotylo, O., and Nikolaieva, O. “Odyn poias, odyn shliakh: Vplyv znyzhennia torhovykh vytrat na dobrobut v Ukraini“ [One Belt, One Road: The Impact of Reducing Trade Costs on Welfare in Ukraine]. Tsentr analityky zovnishnyoi torhivli Trade+ Kyivskoi shkoly ekonomiky, 2019. https://kse.ua/wp-content/uploads/2020/01/KSE-Trade-BRI-Ukrayina-zvit_20191228-1.pdf
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Hlovatska, S. M. “Znachennia stratehichnoi initsiatyvy «Odyn poias, odyn shliakh» dlia Ukrainy“ [The Strategic Initiative «The Belt and Road» and it's Meaning for Ukraine]. Rozvytok transportu, no. 2 (2018): 202-211. DOI: https://doi.org/10.33082/td.2018.2-3.20
Atamanchuk, Z. A., and Prosianiuk, A. V. “Rozvytok zovnishnyotorhovelnykh vidnosyn Ukrainy z KNR“ [Development of Ukraine's Foreign Trade Relations with China]. The 26th International scientific and practical conference «Scientific trends and ways of solving modern problems» (July 04-07, 2023). La Rochelle, France: International Science Group, 2023.

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