THE DILEMMA OF FINANCIAL POLICY IN CHINA-Reference-Cited by-同舟云学术

THE DILEMMA OF FINANCIAL POLICY IN CHINA

Published:2023-04-12 Issue:17 Volume: Page:97-111
ISSN:2309-6667
Container-title:Экономическая наука сегодня
language:ru
Short-container-title:

Author:

Luchenok. А.¹

Affiliation:

1. Institute of Economics of the NAS of Belarus

Abstract

At present, the authorities of the People's Republic of China are faced with a dilemma: either adjust monetary policy pursued by international organizations (IMF and World bank) or continue to support the development of the real sector of the economy using direct financial maintenance. It is shown that in the first case, the PRC will better fit into the global fi-nancial system paying for this with a decrease in GDP growth rates. Under the second op-tion, based on active state support of the real sector with budgetary and banking resources, China's economic growth rates are expected to be higher, but the country will not fully meet the standards of the Western financial system. This will limit the ability to realize the benefits of participating in international financial transactions and will deter the transformation of the yuan into a world currency.

Publisher

Belarusian National Technical University

Subject

General Medicine

Reference8 articles.

1. Mintszyun, Ch. (2018) Genesis of the development of the financial system of the People's Republic of China. Novaya Ekonomika. (2), 123-131. (In Russian).

2. Vorob'ev, Yu. N., Borshch, L. M. (2018) Financial system: an integrated approach in the context of state financial policy. Finansy: teoriya i praktika. 22 (5), 56-72. Available from: https://doi.org/10.26794/2587-5671-2018-22-5-56-75 (In Russian).

3. Borshch, L. M. (2016) Development of the financial system of the Russian Feder-ation in the context of economic integration. Nauchnyi vestnik: finansy, banki, investitsii. (1), 5-11. (In Russian).

4. Gul'd, E. H., Patillo, K. (2006) The process of deepening. By reforming the finan-cial sector, Africa can achieve even higher rates of economic growth. Finansy i razvitie. (2), 44-47. (In Russian).

5. Hellman, T., Murduch, K., Stiglitz, J. (1997) Financial Restraint: Toward a New Paradigm. The Role of Government in East Asian Economic Development. Oxford, Claren-don Press.