Should China’s Economic Policy Be Resisted?

Valentin K Pospelov,Valentina N Mironova,Petr I Chuvakhin

doi:10.52459/jowett1261121

Abstract

China's economic policies were transformed during the reform period that started in 1979, when the most populated country in the world adopted market-based reforms. Currently, China not only has grown to become the second largest and mid income economy in the world from one of the world's poorest countries, but also actively advances the free trade policy and fills the developing niches, although the latter has caused some concerns. The Chines active economic policy along with its economic and political strengthening in addition to the tensions with the United States rise the question whether the Chinese economic policy should be resisted? This paper analyses the different aspects of China’s economic policy and intents to answer the question based on the importance of the Chinese role in the world economy and development while the public opinion toward China’s economic strengthening has been considered as well.

Highlights

China has done an outstanding job of shifting away from central planning while still dealing with economic issues
The public's views of the economic strength of China are largely favourable, especially in emerging economies, according to a recent Pew Research Centre survey (Silver L. et al, 2019). In this survey people frequently regard China's rising economy to be advantageous for their country and believe that China has a significant positive impact on the economic interests of their country. In another survey realized by Russian Levada Center (Levada, 2021), 75% of the participants have a positive view on China, and 14% negative
When it comes to judging that effect, more respondents say China has a favourable impact than the United States

Summary

INTRODUCTION

China has done an outstanding job of shifting away from central planning while still dealing with economic issues. The public's views of the economic strength of China are largely favourable, especially in emerging economies, according to a recent Pew Research Centre survey (Silver L. et al, 2019). In this survey people frequently regard China's rising economy to be advantageous for their country and believe that China has a significant positive impact on the economic interests of their country. In the Asia Pacific region, Chinese investment is more perceived as a potential risk since it gives Beijing too much authority over its economies They are more willing than other countries to regard U.S economic impact in their country positively. When it comes to judging that effect, more respondents say China has a favourable impact than the United States

Promoting Chinese leadership free trade rhetoric

China’s Infrastructure Push

Findings

CONCLUSION