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Smart import substitution policy in the people’s republic of China
 
PIIS020736760014939-1-1
DOI10.31857/S020736760014939-1
Publication type Article
Status Published
Authors
Boris Kheyfets 
Occupation: Chief Researcher, Institute of Economics, Russian Academy of Sciences; Professor, Financial University under the Government of the Russian Federation
Affiliation:
Institute of Economics, Russian Academy of Sciences
Financial University under the Government of the Russian Federation
Address: Russian Federation, Moscow
V. Chernova
Affiliation: Peoples' Friendship University of Russia
Address: Russian Federation, Moscow
Journal nameObshchestvo i ekonomika
EditionIssue 5
Pages84-100
Abstract

The article examines the prerequisites for China's transition to a new model of economic development based on the priorities of domestic market development and reducing dependence on foreign technologies and components supply for key high-tech industries. The conclusion is made about the special nature of import substitution in China, which can be called smart import substitution. The distinction between traditional self-reliance policy and smart import substitution is shown, the latter involving the active use of external factors and support for globalization.

Keywordsnew growth model, double circulation, domestic demand, smart import substitution, self-reliance, globalization
Received20.05.2021
Publication date24.05.2021
Number of characters28460
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