Ways of economic and humanitarian cooperation between Moscow and Beijing were discussed in Chinese Dalian with the support of the Gorchakov Fund

25 May 2017

Roundtable “Ways of Economic and Humanitarian Cooperation” was organized within the framework of international workshop and conference “Russia and China: History and Prospects for Cooperation” held on the premises of Northeastern University of Finance and Economics (Dalian, China).


The event was organized by Blagoveshchensk State Pedagogical University with the support of the Alexander Gorchakov Public Diplomacy Fund and Institute of Public Diplomacy of the Asia-Pacific Region.


Participants of the roundtable were welcomed by President of the university Xia Chunyu. According to him, now is the best tome for such a conference as large forum “One Belt – One Way” has recently ended.


“The main specialization of Northeastern University is economics and management. We would like very much to develop new educational programs with Russia. Especially because every year our countries need more and more experts for implementation of the joint projects”, said the scientist.


Associate Professor of St. Petersburg State University and member of the Gorchakov Club Dr. Yana Leksyutina made a presentation at the event. Her presentation was dedicated to economic modernization of China.


The expert mentioned that in the process of economic modernization Chinese leadership corrected several times mainstream goals of economic development. If the initial goals targeted increase of the level of life of the population and achievement of high macroeconomic results, at the current stage great importance is given to the goal of reformation of the international economic system.


Yana Leksyutina told about economic achievements of China over the past four decades. Thus, according to her, a number of poor people in China has significantly decreased – by 700 mln people, and well-being of Chinese population has noticeably increased. China has become the second world economy and the largest trading superpower. It has taken the position of one of the largest investors and donors of economic aid in the world.


The expert mentioned that China was making efforts to internationalize yuan, expand application of its own payment system, and create new international credit reporting agencies.


Several new financial institutions were founded with the participation of China: the Asian Infrastructure Investment Bank, New Development Bank BRICS. Also, Beijing is increasing a number of agreements on establishing free-trade zones.


Yana Leksyutina also presented in her report difficulties and threats facing China. They included economic imbalance, wealth disparity, aging of the population, problems with innovations, the so-called “housing bubble” and many others.


When finishing the report, the expert mentioned the China was at the beginning of its rising.

A full text of the article in Russian can be found here