China’s Strategic Economic Growth (1978-2018)

Abstract

Today, China is the leading economic power, its gross domestic product (GDP) increased from 1979 to 2018 in 50 times, to $13,2 trillion. This is 10 times the GDP of Russia and almost 30 times the GDP of Poland. China’s nominal GDP is the second in the world after the United States. The authors not only reveal the factors of the Chinese phenomenon, but also attempt to analyze the main components of China’s success in economic development. The purpose of this study is a comprehensive analysis of key features of China’s economic development strategy. Тhe authors examine the key features of China’s economic development strategy, the priority directions of its modernization: public administration reforms, state regulation of the economy, analyze the features of attracting national and foreign investments for a breakthrough in socio-economic development. Тhe authors used the analytical, comparative, institutional and sociological methods.