Impact of regional economic strategy on China’s foreign trade

Abstract

Taking into account global and regional trends and national goals and using Professor V.L. Kvint’s methodology of strategizing as the basis for the study the author assesses the impact of the regional economic strategy on the foreign trade of the regions of China. Development of China’s foreign trade has strengthened the country’s ties with the rest of the world, efficiently improved the country’s modernization and contributed to global prosperity and progress. The study has revealed that leadership in export and import belongs to coastal eastern and southeastern regions, which is a peculiar feature of the regional structure of China’s foreign trade. At the same time northern and western regions are engaged into foreign trade very little due to their landlockedness. The author points out that promotion of strategic development of regional economic structure provides for sustainable development of foreign trade. The article contains the analysis of indicators of export of goods from China in its basic directions and the basic directions of import to China according to the indicator of the volume of import of goods in 2021. The author studies the threats for development of export and import and defines the most important strategic trends of foreign economic development of China. It has been stated that coordination of regional economic modernization through foreign trade requires timely correction of its model and promotion of modernization of industrial structure.