China’s Economic Potential and Development Plans in the Context of Russian-Chinese Cooperation

Abstract

The article considers a set of objective and subjective factors of China’s economic development that contributed to the strategic rapprochement between Russia and China, and comprehensively increasing role of the People’s Republic of China in Russia’s foreign economic relations. The main components of China’s economic miracle, the country’s position in the global economy and international trade, existing forecasts for its economic growth, innovative and technological potential, and its role in the global mineral resources market as well as a global hub for value chains are analyzed. The author notes that the basis of China’s strategic proposal to its economic partners is facilitated through the national development programs. The analysis of the strategic documents of the People’s Republic of China made it possible to identify promising areas and directions for further development of Russian-Chinese cooperation. Despite the existing restrictions and downside risks for the Chinese economy, the deterioration of the external environment, the accumulated financial, economic, industrial, and technological potential enhance China’s strategical resistance and create favorable prerequisites for expanding Russian-Chinese business cooperation.