MECHANISMS OF STRUCTURAL REFORMING OF CHINA’ ECONOMY IN THE CONTEXT OF DEVELOPMENT OF THE TRADE CONFLICT WITH THE USA

Abstract

The world economy recovers from global financial crisis slowly and unevenly that calls a question about efficiency and advantage of economic globalization for the countries of the world. Developing countries recovered from global financial crisis of 2008–2009 comparative quickly, and it was promoted in many respects by the high prices of raw materials and low levels of debt of these countries. NowChinatakes leader positions in the international capital flow and world trade. Globalization had significant effect on scales of the involvement of the country into world economic communications that became one of the reasons of overheating of national economy. The economy ofChina, besides the increasing overheating potential, begins to be under pressure from the trade conflict initiated by theUSA. In these conditions problems of structural reforming ofChina’ economy, on that depend competitive positions of the country in the world economy depend, become aggravated. In modern Sinology, the problems of trade conflicts between countries are studied very fragmentally. Approaches of the author are based on the results previously obtained by Russian scientists Y. M. Galenovich, A. P. Mozias, M. L. Titarenko, and theoretical developments of leading research centers. Historical approach, comparative, system analysis and synthesis, prognostic and problem analysis were used as instrumental scientific methods in the research presented in the article. The author's ideas are based on the hypothesis of the relationship of «overheating», appearing in the economies with the growth of economic contradictions and conflicts between them.