The problem of reindustrialization of the world economy (End of the article, see 8/2017)

Alexander Zakharov

Russian Foreign Economic Journal, 2017, issue 9, 27-33

Abstract: The article reveals the most important aspects of the problem of reindustrialization of the world economy, examines strategies for reindustrialization of the USA, Canada, and Australia.The relationship between the world trend - the transition to the digital economy - and the processes of reindustrialization within the framework of the Fourth Industrial Revolution is considered. The shifts in manufacturing in the US are prompted by the imposed restrictions in the form of an increase in the import tax, along with the introduction of tax energy incentives for domestic production. Undisputed advantage of Canada in carrying out the reindustrialization of the economy is a highly skilled labour force, specialists with secondary education. In conditions of reindustrialization on the eve of the Fourth Industrial Revolution, the availability of highly skilled labour is a necessary condition for the state's competitiveness. The Russian Federation is faced with the situation when reindustrialization is complicated by unfavourable external economicand foreign policy conjuncture (a policy of sanctions against Russia). For the Russian Federation,the reindustrialization of the economy should imply an extensive modernization of the existing production capacities, as well as the formation of new industries based on the use of technologies of the sixth technological order. In these conditions, the drivers of the new industrialization should be knowledge-intensive industries, in which the latest technologies and the largest number of highly skilled personnel are concentrated.

Keywords: Reindustrialization; sustainable development; competitiveness; technological readiness; Industry 4.0; digital economy program; share of innovative products; technological structure; production; NAFTA; resourcing; employment; export; import; production chains; USA; Australia; Canada; Russian Federation. (search for similar items in EconPapers)
Date: 2017
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