Evolution of China’s model of economic growth

Aleksandra Borisovna Galagan and Yuri Anatolievich Savinov
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Aleksandra Borisovna Galagan: OJSC Russian Venture Company
Yuri Anatolievich Savinov: Russian Foreign Trade Academy, Moscow, Russia

Russian Foreign Economic Journal, 2016, issue 6, 40-52

Abstract: The authors consider in detail the main stages of China’s economic development, emphasizing the consistent economic policy aimed at industrialization and development of the services sector.It is noted that the country’s leadership adheres to certain postulates: focus on long-term goals,flexibility in the development of institutional change formats, the use of economic advantages of the country, ensuring the government’s increased role in the development of the market economy,the use of public reassurance in market reforms. In recent years, an obvious drive for development and use of innovations and implementation of the principle of openness of the economy has been noticed.

Keywords: Economy; industrialization; stages of economic growth; postulates and principles of economic development; services sector; innovation; openness of economic growth model. (search for similar items in EconPapers)
Date: 2016
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