L. V. NOVOSELOVA Doctor of Economics Key words: China, global crisis, crisis measures The global recession could not but affect the situation in China, which has the 3rd largest national economy and is one of the largest recipients of foreign capital and the main exporter of finished industrial products in the world. China's GDP grew by 13% in 2007 and 9% in 2008, including 10.4% in the first half of the year, 9% and 6.8% in the third and fourth quarters, respectively. Industrial output growth declined from 16% in June to the lowest level in a decade at 5.4% in November 2008. Due to a slowdown in economic growth and a drop in corporate profits, budget revenues also began to decline in the second half of 2008. In October 2008, for the first time in the last 12 years, tax revenues of the state budget of the People's Republic of China decreased (by 0.3%) compared to the same period in 2007, and in November this decline reached 3.1%. According to the results of 2008, the dynamics of state tax revenues slowed down by 1.7 times, showing an annual increase of 19.5% against 32.4% in 2007.1 There is a tendency to slow down the dynamics of foreign investment. If in January-October 2008, the inflow of foreign investment to China increased by 35%, in January-November - by 26.3%, and in general for the year-by 23.6%, amounting to $92.4 billion on an annual basis. Finally, for the first time since 1998, there was a slowdown in the growth of China's international reserves - in the fourth quarter of 2008, their growth was only $40 billion against $97 billion. in III and$154 billion. in the first quarter of 2. Overall, in 2008, China's international reserves increased by $417.8 billion, or $44.1 billion. less than in 2007. Negative trends in the development of the Chinese economy have a direct impact on the social situation in the country. According to official statistics, by the beginning of 2009, the number of people who lost their jobs in China was about 10 million people. Howeve ... Читать далее