A year and a half has passed since the 17th Congress of the Communist Party of China in October 2007. However, in this relatively short period of time, the global financial and economic crisis broke out, and for the first time since the Second World War, the world's gross domestic product (GDP) has declined, which is projected by the International Monetary Fund (IMF) and the World Bank (WB) at the level of 0.5-1%.
The question is quite legitimate : how does the crisis affect China, and how fair are the assessments of the state and development of the Chinese economy that were given at the 17th CPC Congress in the new conditions?
An Internet conference on "China in the Global Economy: Locomotive left without an engine?" was held on the website of the Russian investment company Finam-ru in January of this year. she raised both this and a number of other questions for the scientific community: is China the locomotive of the global economy in the context of the financial crisis, and where is Russia on the train? And is China still one of the most promising countries in terms of economic development in the 21st century?
CHINA'S REFORM EXPERIENCE
These issues were also discussed at an extensive discussion that took place in February this year at the Center for Economic and Social Problems of China and East Asia of the Institute of Political Economy of the Russian Academy of Sciences.
A.V. Ostrovsky, Deputy Director of the Institute of International Relations of the Russian Academy of Sciences, Head of the Center, Doctor of Economics, delivered the main report on "The global Financial Crisis and its impact on the Chinese economy" at the conference.
The speaker drew attention to the fact that the experience of Chinese reforms is the experience of a relatively painless transition from a planned to a market economy, entering the trajectory of high economic growth, which has been going on for 30 years. China did not follow the path of a radical transition to a new economic and ... Read more