On the applicability of China’s experience to helping Russia in the transition to socio-economic growth based on the development of technological and intellectual potential

Abstract

The author outlines the main provisions that can contribute to the socio-economic development of Russia. The Chinese experience of ensuring a rapid economic growth, which can be adopted by Russia, is described in detail. Towards the same end, Russia needs to significantly increase investment in fixed capital and human development. This can be done at the expense of the state budget, directing funds primarily to fundamental science, education and healthcare. It is very important to pay special attention to reducing social inequality and improving the living standards of the population, thereby promoting the welfare state. It is also necessary to raise the extremely low incomes in rural areas and small towns, amounting to 25–30 thousand roubles per capita per month.