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Economic and Political Problems of Restoring and Maintaining GDP Growth Rates in China (2022-2023)

Student: Kuznetsov Vasiliy

Supervisor: Andrey Vinogradov

Faculty: Faculty of World Economy and International Affairs

Educational Programme: Asian Studies (Bachelor)

Final Grade: 9

Year of Graduation: 2024

The rapid growth of economic and political influence from the 1970s till the present day has made China one of the strongest players in the international geopolitical and geo-economic arena. Still, over the past few years, the growth rates of China’s GDP as one of the main macroeconomic indicators are decreasing. The following research is intended to structure and comprehensively study existing political and economic factors, as well as related problems that block the restoration and maintenance of China’s GDP growth rates in 2022 and 2023. The aim of the study is to identify the problems which slowdown gross domestic product growth rates and to characterize how the factors slowed down GDP increase in 2022 – 2023. Implementing complex analysis research design, the methodological basis of the paper includes structural analysis, elements of case-study and content analysis methods. An in-depth study of predominantly Chinese and Russian literature, Chinese and international sources in the research provides a multifaceted justification for the existing exogenous and endogenous problems of maintaining China's GDP growth rates. The study concludes that the key barriers of GDP growth in chosen time frame included unresolved issues in international relations with the United States, consequences of COVID pandemic, demographical problem of population aging and the decrease in working population. Key economic factors consist of overproduction challenge, energy problems and real estate crisis in China. Key words: Economy of China, Politics of China, Macroeconomy, Political Economy, Gross Domestic Product of China, Economic Growth of China.

Full text (added May 15, 2024)

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