Open AccessEconomic Cooperation Between Russia and China in the Context of Modernization of their National Economies
Author(s) -
Н. С. Степанов,
Е. А. Соколовская
Publication year - 2020
Publication title -
federalizm
Language(s) - English
Resource type - Journals
ISSN - 2073-1051
DOI - 10.21686/2073-1051-2020-4-157-172
Subject(s) - modernization theory , china , context (archaeology) , investment (military) , economic system , competition (biology) , government (linguistics) , business , state (computer science) , settlement (finance) , economics , economy , economic policy , international trade , payment , economic growth , political science , finance , politics , computer science , law , biology , paleontology , ecology , linguistics , philosophy , algorithm
Th ecurrent model of state regulation in China has allowed it to take a special place inthe modern process of reformatting the system of international economic relations. Thismodel, based on a combination of strategic and indicative planning, market competition,and targeted lending to significant government projects, allowed us to ensure not only thegro wth of consumption, but also the development of investment platforms aimed at reducingris k s ,cre ating social entrepreneurship institutions, and so on. Strengthening economiccooperation between the PRC and the Russian Federation is an important factor in solvingn o tonly the internal problems of both countries, but also strengthening stability in the farEastern region. The article analyzes the problems of Russian-Chinese cooperation relatedto the increase in financial flows between the two countries, mutual investment, the lackof existing bilateral effective and reliable settlement channels and payment systems, etc. InGener al, strengthening cooperation between Russia and China is an important componentof the structural modernization of the domestic economy.