Balanchuk I.S. – Senior Researcher of Ukrainian Institute for Scientific, Technical Expertise and Information, 180, Antonovуcha Str., Kyiv, Ukraine, 03680; +38 (044) 521-00-37; firstname.lastname@example.org; ORCID: 0000-0002-5179-7350
CONSTRUCTION OF INNOVATION SYSTEM IN THE PEOPLE’S REPUBLIC OF CHINA
Abstract. The article analyzes the advantages and disadvantages of the Chinese model of economic growth, the reasons for the inevitable slowdown. It is concluded that although the technological and innovation level of the Chinese economy is growing, in general, it remains extensive, based on the attraction of excessive amount of resources and capital. Today, China is on the brink of great change, and the future of this Asian country depends only on a further moderate course of conduct. A number of examples of successful start-ups of Chinese enterprises are presented, which, using their own, “Asian” approach to the problem solving, turning into a world-class company. It is shown that even if China abandons the United States in terms of GDP, it will not be able to become a full-fledged world leader, as most of the US leadership (ideological, military, technological, innovation, currency, etc.) will not be able to perform China. In addition, becoming a full-fledged leader in the global system of China will hamper its vulnerability in demography, democratic rights, leadership in environmental pollution, the fact that more and more of its citizens consider Western values to be priorities, as well as a number of other circumstances. Only a moderate policy of full innovation of all levels of the economy, including, moreover, the social sphere, along with the timely resolution of pressing issues, will enable China to consolidate its leadership positions among the strongest and most powerful powers in the 21st century.
Keywords: China, innovation strategy, business model, innovations, technological innovations, gross domestic product, innovative system.
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