HISTORICAL ORIGINS OF THE FORMATION OF THE CHINESE ECONOMIC MODEL

Abstract

The article analyzes the history of formation, main features, characteristics and stages of development of the Chinese economy, which has been demonstrating economic growth over the past decades. The country's economic success is updated by research on the historical origins, place and role of the Chinese economic model in global economic development. In the historical context, the origins of the Chinese model of economy are seen in the main features of the Asian mode of production, the constant presence of the state in the regulation of public life and in economic development. It is characterized that the formation of the Chinese model of the economy began with the economic reforms of 1978, the features of which were focused only on economic changes with an unchanged political system; the absence of any privatization and the creation of private enterprises from scratch during market reforms; the leading role state regulation and national economic plans in the development of the economy. The characteristic features of the modern Chinese model of the economy include: a strong state with a large-scale public sector of the economy; active state intervention in macroeconomic regulation, planning and forecasting of socio-economic development; a multi-layered economy, an effective combination of various forms of ownership, a combination of traditional and modern ways of life; the implementation of the Confucian model of a just state, which should create equal opportunities for self-development of everyone; the special role of national mentality, traditions and Customs; a high level of disciplinary culture and stable organization of society; the dominance of pragmatism and rationalism. It is investigated that the most important feature of the Chinese economic model is the development of the real sector of the economy, and the main tools of global competition are considered here new technologies and innovative industries that are supported by government programs.