Capacity Market Research Articles

Multilayer Game Collaborative Optimization Based on Elman Neural Network System Diagnosis in Shared Manufacturing Mode.

With the dynamic sharing of global resources shifted from the independent production of a single enterprise to and the development of collaborative manufacturing, today's manufacturing industry has collaborative production among multiple enterprises. This paper extends the optimization method of the multienterprise dynamic equipment collaborative scheduling system with the dynamic manufacturing network theory approach, combining the neural network system and model predictive control theory to continuously and dynamically diagnose the changes of demand and capacity in the actual production process and design the corresponding multilayer game collaborative optimization robust model according to the uncertainty relationship. The study considers the production characteristics and management needs of multiple enterprises within the manufacturing industry, as well as the optimization of the dynamic equipment collaborative scheduling system, uncertain demand, dynamic equipment matching effectiveness, and equipment failure under the shared manufacturing model, deduces the market capacity demand for manufacturing enterprises by inverse prediction of dynamic market demand through the simple recurrent neural network (Elman network), and then maximizes the idle equipment utilization and load capacity under the shared manufacturing model in model rolling optimization. This paper gives model solutions based on big data analysis and combines improved population intelligence algorithms to determine the dynamic matching of manufacturing resources, product supply and demand paths, and transportation flows. The simulation results show that the application of model predictive control theory to the model of Elman neural network system diagnosis can effectively reduce the adverse effects of the two-way uncertainty environment on the profitability of enterprises. Meanwhile, considering the maximum performance matching of dynamic equipment scheduling and combining with robust optimization methods will reduce the cost loss of manufacturing enterprises in the worst case, and the cost loss reduction can reach 24.73%. The analysis results verify that the method is of great practical significance in the direction of intelligent production collaboration and industrial digital transformation.

Lose at sunrise and gain at sunset: A long-term evaluation of China's PV penetration

Photovoltaic (PV) development provides an excellent opportunity for China's energy transformation and carbon emission mitigation. However, there is still a lack of systematic evaluation of the economic and environmental benefits of PV penetration. This study explores the impact of PV growth on the power system and the macroeconomy, examines the abatement costs of PV based on the learning effect, and further discusses the economic feasibility range of PV development. The results indicate that: (1) From July 2011 to April 2022, for every 1% increase in the PV installed capacity, the cost will drop by 0.3238%. (2) The impact of PV development on the economy presents a “U shape”. The high cost in the early stage of PV will inflict a negative impact on capital stock and GDP, and the low cost in the later can promote economic growth. (3) The CO2 mitigation cost of PV adoption is marginally decreasing. During 2012-2020, the CO2 mitigation cost of PV is as high as 894.21 CNY/kWh. But in the long run, an increase in PV penetration can bring both environmental and economic benefits. (4) Sufficient market capacity might be a prerequisite for PV to achieve economic viability, and countries' mutual opening of the PV market is a key path to realizing global carbon abatement.

Assessment of Technological Capabilities of the Informal Foodservice Operators in Oyo State

Aim and Objective: Evaluate the technological capability of the informal foodservice operators in the study area with the view of ensuring wholesome food are served using the right technological capabilities.
 The informal foodservice operators (IFOs) carry a larger part of food service providers that have contact with people on daily basis. The model of Garvin, 1981 was adapted for the study and mixed study approach. A structured questionnaire that includes both close and open-ended questions was used to elicit information from the participants of the study. The data collected was analysed and it showed that the technological capacity of the informal foodservice operators in studied areas in Oyo State was fairly high. The informal foodservice operators have low investment capacity, production capacity and high marketing capacity. The ability to use technological capacity to their advantage was lacking due to lack of funds and training. Their high marketing and innovation capacity showed that if there are funds and training, they will improve their investment and production capacity. Government should formulate policy that will encourage growth of the informal foodservice operators to ensure that wholesome food is served within the system.

Design of Financial Management Talent Training Model under Demand Coupling Mechanism and IoT Applications

The financial environment of businesses and institutions has significantly changed due to the development of new technologies and the deepening of vocational education reform. The Financial Management Department is, in theory, responsible for the financial management of the company. Specialty benefits from both the accounting and finance specialties. The advanced stage of corporate financial activity management is cash-related management. As a result, the social demand subject should praise graduates of the financial management specialty. The subject of social demand is also a good motivation to raise proficient capacity necessities for graduates. Regardless, there is a huge hole among organic market for proficient capacity under the current ability preparing model, in light of the fact that numerous schools and colleges that set monetary administration claims to fame are uncertain of the expert capacity necessities of the social interest subject, monetary in nature. Graduates in executive positions are in a more humiliating position on the job market. In light of this, this paper proposes the basic idea of talent training model innovation in the financial management specialty, based on an analysis of the status and causes of professional ability supply and demand. The board specialises in determining talent training goals, revising professional talent training programs, respecting the central status of students, and engaging in innovative teaching activities. Using Sichuan University of Arts and Science as an example, this paper examines the current state of practice teaching of financial management in colleges and universities, incorporates course practice content into the national vocational and technical certificate, promotes the integration of professional courses and vocational qualification certificates, discusses the new mode of practice instructing of university-enterprise cooperation, and makes recommendations. With the quick movement of the economy and society, the force of science and innovation, similarly as steady getting the hang of; perception; and usage of the significance of data and capacity progression has never been more prominent. Schools are the establishment for propelling one’s capacities. China as of now has an enormous number of colleges, showing that 100 blossoms are growing and 100 distinct perspectives are contending. Each school has its own unmistakable character and attributes. Regardless, the mirror of market economy obviously mirrors the condition of the economy contamination, commitment, bad behaviors, and veritable financial discipline encroachment of endless high-situating insightful individuals, addressing a real test to school capacity improvement.

The role of technological absorption capacity, enviropreneurial orientation, and green marketing in enhancing business' sustainability: evidence from fast-moving consumer goods in Tanzania

PurposeGiven current global environmental concerns, traditional marketing and entrepreneurial practices of small businesses are considered ineffective. This is because sustainability requires the involvement of social, economic, and environmental dimensions. This study, therefore, aims at analyzing the moderating effect of technological absorptive capacity (TEOC) in the relationship between green marketing mix (GMX), enviropreneurial orientation (ENVO) and the sustainability of small businesses (SUST).Design/methodology/approachThis study is cross-sectional. This study used data from 243 fast-moving consumer goods (FMCG) industries, such as food and beverages, cleaning products, office supplies, cosmetics, and toiletries. Structural equation mdeling (SEM) and the PROCESS macro test were employed during data analysis.FindingsThe findings suggest that GMX and ENVO are significant determinants of SUST. Also, TEOC is a significant moderator of GMX, ENVO, and SUST.Research limitations/implicationsThis study used owner-managers as the respondents; future studies can use employees and customers to find out how small businesses involve other stakeholders in designing GMX and ENVO and adopting technologies for business sustainability and adopting technologies for business sustainability.Practical implicationsThe study has practical implications for policymakers and owner-managers, especially on the significant contributions of GMX, ENVO, and TEOC to business sustainability.Originality/valueDepending only on traditional marketing and entrepreneurial practices is no longer a reliable technique for business sustainability. By bringing environmental aspects into business management through a green marketing mix and enviropreneurial orientation, the study provides a unique and new way of thinking about sustainability. Also, the study adds knowledge to the body of literature through a moderating effect of TEOC in the relationship between GMX, ENVO, and SUST.

An artificial multi-enzyme cascade biocatalysis for biomanufacturing of nicotinamide mononucleotide from starch and nicotinamide in one-pot

β-Nicotinamide mononucleotide (NMN) is an important precursor in the synthesis of nicotinamide adenine dinucleotide (NAD+) and confers multiple health benefits, resulting in the rapid growth of NMN market capacity in the fields of food and health care. To overcome the drawbacks of NMN production by the existing chemical or microbial fermentation method, there is an urgent need to develop a prospective NMN production strategy with low cost, low pollution, and high yield. In this study, we demonstrated an artificial in vitro multi-enzyme cascade biocatalysis using starch and nicotinamide (Nam) as substrates for the synthesis of NMN in one-pot. This multi-enzyme cascade reaction was optimized in terms of pH value, buffer concentration, inorganic phosphate concentration, enzyme composition, and phosphoenolpyruvate concentration. Under optimized conditions, a high molar yield of 87.8% for NMN was achieved using 3.2 mM Nam as substrate, and a molar yield of 55.37% for NMN was also achieved under the initial Nam concentration of 9.21 mM. This in vitro enzymatic platform provides an environmental friendliness biomanufacturing technology for the production of NMN, showing a highly promising alternative approach for NMN production.

Material Properties for Wire‐and‐arc Additively Manufactured Steel

AbstractIn the era of internet and robots, sophisticated devices and real‐time simulation, the construction sector remains highly dependent on manual labor which is also the main source of delays, lack of quality, and human injuries. The rapid development in technological areas such as mechatronics, computers, sensors, programming, human interfaces, and artificial intelligence offers huge potential for modern applications.Nowadays, additive manufacturing is rapidly growing, and it could provide efficient solutions for steel construction since it can be executed in any shape and scale. There are a few solutions in additive manufacturing technologies, which can process materials and produce components. However, there is a gap in the market for capacity to link the processed material conditions and characteristics to the production parameters in real‐time. Real‐time and cognitive re‐planning of the process parameters becomes significantly important when components with large‐scale and complex shapes are considered.In steel construction, material should comply with strict requirements in terms of its strength and ductility. Hence, it is necessary to characterize the material properties before their application in construction. This paper presents material characterization for WAAM fabricated steel coupons, considering different directions with respect to the deposition direction.

Power-to-heat on the reserve capacity market—Policy implications considering economic constraints and competing heat production

Studies have shown that surplus power from variable renewable electricity generation can be consumed in electric boilers or compressor heat pumps, i.e., Power-to-Heat (P2H), for heat production. This potentially provides power balancing for the electric grid and can also decarbonize and/or reduce biofuel demand in the district heating (DH) sector. This sector-coupling of thermal and electrical systems is, however, limited by production planning complexity, grid fees, tariffs, and risk-averse actors. The conditions for P2H production vary between DH-systems due to non-homogeneity in the configuration of production units in different systems. This study investigates the economic feasibility of placing bids for P2H electricity consumption on the reserve capacity market in three different DH systems. It is assumed that P2H electricity consumption is controlled by a hypothetical balance operator. To increase production flexibility, the DH systems are equipped with heat storage where P2H-produced heat is stored. The results show that P2H on the reserve capacity market can increase revenue for DH operators, but DH systems with co-generation of heat and electricity risk reducing income from power production. Furthermore, stored heat needs to compete with cost-efficient base-load production to avoid the large storage required. The power balancing potential of P2H in DH systems is generally limited by the installed P2H capacity as well as the rest of the constituents and the production strategy of the DH system. To overcome these limitations, policies are needed that reward power balancing services and provide investment support for P2H capacity and heat storage.

See You in Your Backyard: Multipoint Contact, Firm’s Capacity and Capability, and Technological Expansion

Past studies of multipoint competition have mainly focused on the effect of multipoint contact in product markets on firm competitive behaviors in those markets only. Our study advances this literature by examining how multipoint contact in product markets affects a firm’s expansion into a rival’s technological areas. We further investigate the factors that moderate the proposed effect. Our analyses suggest that the degree of multipoint contact between a firm and a rival in product markets has an inverted U-shaped relationship with the degree of the firm’s expansion into the rival’s technological areas (patent classes). Furthermore, the firm’s capacity (market share) and capability (status in terms of technological development) relative to the rival’s have different moderating effects on the relationship between multipoint contact in product markets and the firm’s expansion into the rival’s technological areas. Our findings contribute to the literatures on multipoint contact, competitive dynamics, and firm technology strategies.

Recycling Performance of the Tire Remanufacturing with Production Capacity Constraints considering Carbon Tax and Technology Subsidy

After considering the manufacturer’s production capacity constraints and market preference, this paper presents a closed-loop supply chain of automotive tires which consists of a remanufacturer, a retailer, and a recycler, where used tires are collected and reused. Based on the features of the closed-loop tire remanufacturing supply chain, four Stackelberg models are developed to investigate the influences of the carbon tax and the technology subsidy on recycling performance. The result shows that the carbon tax is conducive to improving the remanufacturing technology level and reducing emissions, but it reduces the profit of the manufacturer and the retailer. A subsidy can make up for their loss by the carbon tax. Moreover, an allied decision of the chain’s members can help them gain economic benefits, while an independent decision can improve environmental benefits.

Evaluation and regulation of resource-based city resilience: Evidence from Shanxi Province, China

With the continuous progress of global urbanization, urban resilience has been of great concern due to the impact of many risks. The single industrial structure and environmental pressure of resource-based cities (RBCs) make it an imminent need to strengthen their resilience. However, RBCs are less discussed in current resilience studies. Thus, this study attempts to evaluate the resilience of 10 RBCs in Shanxi Province of China from 2005 to 2019 and also to detect the dominant influencing factors of urban resilience and their interactions. In doing so, several modeling tools including entropy weight method, multi-factor comprehensive evaluation method and Geographic detector are employed to measure and review the changes of urban resilience in Shanxi and also to detect the development potentials for resource-based city resilience. It is found that the urban resilience in Shanxi has been on the rise from below 0.3 in 2005 to above 0.35 in 2019, with an overall upward trend, and there are obvious regional differences. The results of the Geographic detector indicate that the determinant power of influencing factor increases significantly after the interaction. And the top three dominant interaction clusters are market capacity ∩ rationality of employment structure, facility completeness ∩ land production efficiency, and internal economic dynamism ∩ coordination of ecological development. It is recommended to accelerate industrial restructuring and high-quality urbanization, grasp infrastructure construction and ecological environmental protection, and coordinate in multiple dimensions in order to achieve a high degree of urban resilience.

АРХИТЕКТУРА БРЕНДОВ ТЕРРИТОРИАЛЬНОЙ ФАРМАЦЕВТИЧЕСКОЙ ЭКОСИСТЕМЫ УРФО

Abstract. The article describes the results of a study of the brand architecture of manufacturers of medicines localized in the Ural Federal District and having common channels for the market distribution of medicines (LP) (territorial pharmaceutical ecosystem). To date, there is a priority of horizontal marketing technologies in the industrial pharmaceutical sector of the Russian Federation, at the same time, the assessment of the degree of development of brand identity elements of medicines produced in the Ural Federal District is of considerable interest. The purpose of the study was to develop and test a methodological approach to determining the quantitative and qualitative characteristics of the brand architecture of manufacturers of medicines localized in the Ural Federal District, as well as to assess the potential for the introduction of horizontal marketing technologies in the positioning of Ural pharmaceutical brands. The object of the study was the aggregated assortment and realized wholesale demand for 476 trade names of medicinal products produced by Ural pharmaceutical plants. The study of qualitative and quantitative characteristics of brand architecture was carried out by the method of structural analysis of the assortment, marketing analysis of the offer using specialized pharmaceutical information systems. A moderate level of brand architecture development in depth is shown, corresponding to the predominance of unbranded LP assortment positions and the moderate introduction of "corporate umbrella" technologies. We have shown a direct relationship between the depth of implementation of brand architecture and the innovativeness of LP, as well as the market capacity of the market segment. Assessing the territorial development of brand engineering in the territorial pharmaceutical ecosystem of the Ural Federal District, it is worth noting the lack of geographical identification. The development of territorial and cooperative-territorial branding technologies for medicinal products produced in the Ural Federal District seems to be a promising tool for marketing differentiation of both products and manufacturers in the territorial pharmaceutical ecosystem of the Ural Federal District.

Motivations and barriers for engagement in short food supply chains: insights from european focus groups

The purpose of the study was to identify the motivations and the barriers that stakeholders face regarding Short Food Supply Chains (SFSC). Two focus groups with stakeholders of the agricultural sector and SFSC were conducted in the Netherlands and Switzerland. A first fundamental topic addressed by participants was the one related to the definition of SFSC, which is far from consensual,"short" being often associated and sometimes confused with local, direct, small, fair, ecological, fresh, healthy, etc. However, a series of positive and negative factors influencing SFSC development, and the involvement of agri-food stakeholders were identified. On the one hand, the unique relationship built through direct contact between producers and consumers, the fair distribution of value added in the chain that producers can find in engaging in SFSC, the increasing number of SFSC initiatives, the farm resilience, and territorial strategies that are being developed seem to be the most positive aspects, that can explain the trends moving towards these types of distribution channel. On the other hand, many hindering factors were also identified, such as weak communication and marketing capacity of producers, and a lack of efficiency and cooperation between peers. The fierce competition of conventional distribution, using green washing, together with a profusion of labels, price issues, and unsuitable standards were mentioned as the main threats faced by SFSC actors.

COVID-19 Shock and the Time-Varying Volatility Spillovers Among the Energy and Precious Metals Markets: Evidence From A DCC-GARCH-CONNECTEDNESS Approach.

The outbreak of the COVID-19 epidemic intensified the volatility of commodity markets (the energy and precious metals markets), which created a significant negative impact on the volatility spillovers among these markets. It may also have triggered a new volatility risk contagion. In this paper, we introduce the DCC-GARCH-CONNECTEDNESS approach to explore the volatility spillover level and multi-level spillover structure characteristics among the commodity markets before and during the COVID-19 epidemic in order to clarify the new volatility risk contagion patterns across the markets. The results implied several conclusions. (i) The COVID-19 epidemic has significantly improved the total volatility spillover level of the energy and precious metals markets and has enhanced the risk connectivity among the markets. (ii) The COVID-19 epidemic has amplified the volatility of the crude oil market, making it the main volatility spillover market, namely the source of volatility risk contagion. (iii) The COVID-19 epidemic outbreak enhanced the external risk absorption capacity of the natural gas and silver markets, and the absorption level of the external volatility spillover improved significantly. Furthermore, the risk absorption capacity of the gold market weakened, while the gold market has remained the endpoint of external volatility risk during the epidemic and has acted as a risk stabilizer. (iv) The volatility spillover among markets has clear time-varying characteristics and a positive connectedness with the severity of the COVID-19 epidemic. As the severity of the COVID-19 epidemic increases, the volatility risk connectivity among the markets rapidly increases.

Economic Policy Uncertainty, Investor Sentiment, and Stock Price Synchronisation: Evidence from China

This paper explores the general decision mechanism of stock price synchronicity through in-depth research on the two main viewpoints of information efficiency view and irrational behaviour view. On this basis, we explore the effect of China’s economic policy uncertainty gradually on the synchronisation of stock prices and provide a reasonable explanation for it. Based on the China Economic Policy Uncertainty Index developed by Baker et al., this paper takes China’s A-share listed firms from 2010 to 2019 as the primary sample and tests the effect of China’s economic policy uncertainty on the synchronicity of stock prices by constructing a comprehensive mediation effect test procedure. The fundamental effect and its internal mechanism of action have been supplemented and verified from investor sentiment. Strengthening the research on economic policy uncertainty and stock price synchronisation may deeply explore the internal mechanism of the listed firms’ stock price changes, help in improving the information production function and information transmission function of the securities market, help in improving the resource allocation capacity of the entire capital market, and then promote the long-term healthy development of China’s capital market. The main findings of this paper are as follows: (1) in China’s stock market, which is driven by noise, the increase of economic policy uncertainty will significantly reduce the synchronisation of stock prices; (2) increased uncertainty about China’s economic policy will fuel the investor sentiment and reduce stock price synchronicity, with investor sentiment playing an intermediary role.

Estimating the impacts of natural gas power generation growth on solar electricity development: PJM's evolving resource mix and ramping capability

AbstractExpansion of distributed solar photovoltaic (PV) and natural gas‐fired generation capacity in the United States has put a renewed spotlight on methods and tools for power system planning and grid modernization. This article investigates the impact of increasing natural gas‐fired electricity generation assets on installed distributed solar PV systems in the Pennsylvania–New Jersey–Maryland (PJM) Interconnection in the United States over the period 2008–2018. We developed an empirical dynamic panel data model using the system‐generalized method of moments (system‐GMM) estimation approach. The model accounts for the impact of past and current technical, market and policy changes over time, forecasting errors, and business cycles by controlling for PJM jurisdictions‐level effects and year fixed effects. Using an instrumental variable to control for endogeneity, we concluded that natural gas does not crowd out renewables like solar PV in the PJM capacity market; however, we also found considerable heterogeneity. Such heterogeneity was displayed in the relationship between solar PV systems and electricity prices. More interestingly, we found no evidence suggesting any relationship between distributed solar PV development and nuclear, coal, hydro, or electricity consumption. In addition, considering policy effects of state renewable portfolio standards, net energy metering, differences in the PJM market structure, and other demand and cost‐related factors proved important in assessing their impacts on solar PV generation capacity, including energy storage as a non‐wire alternative policy technique.This article is categorized under: Photovoltaics > Economics and Policy Fossil Fuels > Climate and Environment Energy Systems Economics > Economics and Policy

Современное состояние, проблемы и перспективы развития отечественного гражданского судостроения

Object and purpose of research. The object of the study is domestic shipbuilding, its problems and ways to solve them. The article is intended to study the current state of the Russian shipbuilding industry, to investigate the tasks of its further development and to formulate priority measures to stimulate this development. Materials and methods. The solution of the tasks set in the article was carried out on the basis of application of general scientific methods in the framework of comparative, logical and statistical analysis, study of literary sources in regards to the issue in consideration as well as through the study of structures of domestic shipbuilding industries, pricing methods, financial analysis, etc. The material is extensive statistical data on the production programs of shipbuilding yards. Main results. A study of the state of contemporary domestic shipbuilding has been carried out. The analysis of trends in the development of world shipbuilding at the turn of the century allowed us to identify the general directions that form the image of promising Russian shipbuilding technologies. It is concluded that the world level of development of technical and software tools, as well as communication tools, allows us to move to fundamentally new methods of design, construction and support of vessels and ships operation based on a single information space and providing information support for all stages of the ship's life cycle (information support of the life cycle, or CALS-technology). Conclusion. According to the conducted research of the shipbuilding market, the nomenclature and production volumes of Russian enterprises do not fully cover the existing needs of shipbuilding. However, the domestic shipbuilding industry has sufficient scientific, technical, production and technological potential and market capacity. Our manufacturers have every chance to take a leading position in commercial fleet construction segment in the near future, because the need for Russian-made components with technical and operational characteristics that are not inferior to foreign analogues will increase. Today favourable conditions are forming to stimulate the localization of production. At the same time, the key factors are the stability of Russian legislation and compliance with the obligations assumed by the state, which will ensure the attraction of long-term localization and indigenisation projects in general. The development of own production of a wide range in shipbuilding industry will allow the Russian Federation to pursue a selfsustained and independent policy aimed at ensuring the technological security of the country. To solve such a complex task, an integrated, systematic approach is needed, involving close cooperation between the state, business, and research institutes, which as a result will allow us to build an optimal program for the development of the entire industry.

Integration of long‐ and short‐term contracts in a market for capacity

Motivated by the potential growth of capacity markets due to 3‐D manufacturing, we examine the integration of long‐ and short‐term contracts for a capacity marketplace. In the marketplace, manufacturers and suppliers first participate in long‐term contracts in which manufacturers reserve capacity at one or more suppliers. Subsequently, manufacturers and suppliers trade in a spot market to fulfill residual demand and sell residual capacity, respectively; in the spot market, the equilibrium price is determined dynamically and endogenously by the balance of supply and demand for capacity. We build a model to derive insights on the decisions taken by the manufacturers and suppliers and on the equilibrium characteristics of the market. We show existence of equilibria in both long‐ and short‐term contract markets and establish a relationship between the equilibrium prices for the two types of contracts. We also find that when short‐term–only contracts are available, the expected backlog is lower compared to when integrated contracts are used for much of the planning horizon. Further, we find that the presence of long‐term contracts increases the volatility of spot prices. Our results will make practicing managers aware that contractual arrangement can influence spot price volatility.

Україна в інституційному вимірі глобальної конфліктності та стихійної локалізації

It is shown that the institutional environment of global markets was formed under the conditions of technological, financial and political dominance of certain leading countries, which caused today's gap between the integrating capacity of market and structural-institutional mechanisms of the global economy and its actual complexity and potential for conflict. The mechanism for reducing this gap was spontaneous localization as a modern simplification of the structure of the world economy due to massive conflicts and the rejection of a share of cooperative agreements. The contribution to the deterioration of the quality of the institutional environment of the global economy of the process of regeneration of the debt institution is revealed. In the new institutional environment, the demand for liquidity (cash balances) as a function of the motive for foresight takes the twisted form of the demand for inventories, both production and consumer demand, exacerbating the global deficit. The conclusion is substantiated that the global economic power, which is not provided with global resources and value-institutional structures, is a source of uncertainty not only for competitors, but also for itself; the result of its functioning is the deepening of disparities and gaps, which can be partially hidden due to hypertrophied credit. It has been proven that the mutual strengthening of the phenomena of global economic power and hypertrophied credit carries the risk of destroying the social market foundations of economic freedom, trust and justice; this determines the demand for alternative models. It is shown that the criterion for the expediency of alternative models of global development in the conditions of unfolding contradictions between globalization and localization is the ability to more or less stable distribution of powers and responsibilities.

Sectoral and Country-Origin Dynamics of FDI in China in 1997-2020

FDI flows in China have increased for decades, but the sectoral and country-origin distribution change over times. Chinese FDI inflows have experienced a shift from manufacturing to real estate and service sectors. A series of factors including labor cost increase, currency appreciation, overcapacity of production, domestic competition rise and US trade war cause negative effects on manufacturing FDI flows. However, rising purchasing power, consumer demand and market capacity create new opportunities for foreign business in China. The government makes efforts to nurture service trade as an engine of economic growth alongside trade in goods. Many incentive policies have been launched for numerous service industries. These are the push hand behind the rapid rise in service FDI. The neighboring countries or regions in Asia and free trade ports with taxation advantages contribute vast majority of the FDI in China. Hong Kong's status as the largest supplier of FDI to the mainland has become increasingly prominent over the past 20 years, partially due to so called “round-trip” FDI. Chinese economic diplomacy promotes regional integration in East and Southeast Asia, and creates conditions for the liberalization of intra-regional investment. Closer trade connections with European countries boost the EU investment in China over recent years. Our studies of FDI's structural changes in China can generate policy implications widely for the government, foreign companies and investors, as well as developing countries committed to FDI attraction.