CHINA BUYS UP RESOURCES
V. V. SAMARTSEV (Vladivostok) China Keywords:, economic growth, raw materials The functioning of the national economy can be compared to the movement of a bicycle, which remains stable as long as the pedals are turned. Stopping or slowing down can lead to a fall with serious consequences. 1For the People's Republic of China, with its huge population, the formula "stability in the economy - balance in society" is particularly relevant. Over the past two decades, the growth of gross domestic product (GDP) in this country has averaged 8-10% per year. And to maintain high rates of economic development, it is necessary to ensure a guaranteed supply of energy and raw materials. Domestic sources cannot meet the growing demand of Chinese factories and factories. The best solution is to diversify supplies with the help of foreign partners. Favorable conditions for foreign direct investment (large labor force, low tax rates, minimum bureaucratic barriers) and exports (reasonable price of goods, quality improvement, regulated exchange rate) led to record savings of almost $2.4 trillion in gold and foreign exchange reserves.2 According to this indicator, China confidently ranks 1st in the world, followed by Japan ($1.06 trillion).3 and Russia ($440.6 billion)4. According to the Chinese Central Bank, the country's foreign exchange reserves grew by $453.1 billion in 2009.5, i.e. by $35.3 billion. more than in 2008.6 The annual reports of the State Development and Reform Committee of the People's Republic of China "On the main Directions of the country's economic development" repeatedly stressed the need to reduce the positive balance in the international balance of payments. In 2009, the following measures were envisaged: increasing the volume of direct investment abroad by 13.2%; expanding imports of advanced technical equipment and critical energy resources and raw materials; increasing state strategic reserves in case of emergencies; preventing risks affecting foreign assets, ... Read more
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14.08.2023 (341 days ago)
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