CHINA’S “DUAL CIRCULATION” STRATEGY: HOW IT AFFECTS THE GLOBAL ECONOMY
УДК 339.9
Abstract
The “Dual Circulation Strategy”, adopted by China, represents a new model of economic development aimed at achieving sustainable growth through a balanced interaction between domestic and international markets. Amid growing global instability, trade wars, and changes in the world economy, China is increasingly turning to internal drivers of development, seeking to reduce its dependence on external demand. Particular emphasis is placed on stimulating domestic consumption, developing high-tech industries, modernizing the production base, and enhancing self-sufficiency in key sectors.
At the same time, the strategy does not imply isolationism: China continues to actively participate in the global economy, expanding its external ties and strengthening international cooperation, especially within the framework of the Belt and Road Initiative and bilateral trade agreements. This article examines the key elements and objectives of the Dual Circulation Strategy, its institutional and economic mechanisms of implementation, as well as its implications for the global economy and international supply chains. Special attention is paid to the prospects for strategic cooperation with other countries and the transformation of China's foreign economic policy in the context of a changing geopolitical and financial landscape.
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