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Strengthening the Global Importance of China’s Economy in the Post-Pandemic Period
Get PDFDespite a pandemic that has brought most of the global economy to its knees, Chinese economic growth continued in 2020 and strongly accelerated in 2021. An almost certain scenario in which China is becoming the leading world economy already brings strong geopolitical implications, primarily in the form of shaking the existing world order, which is practically managed by Washington. The key reason for the strong growth of China’s economy is the high share of both savings and investments in GDP (over two-fifths each) in a very long period, together with its impressive technological progress. In this regard, the direct reason for the current tension between the two countries is China’s economic transformation towards the upper end of global industrial value chains. Attempts to end China’s economic expansion through forced technological unbundling, US trade sanctions, or forced changes in global supply chains, seem doomed to failure given its vast internal market and conquest of entire product ranges or supply chains. America will continue with its efforts to maintain primacy over China in the basic technologies of the future, from artificial intelligence to quantum computing, with the help of huge investments in science. Although the US and China are not necessarily on the path of confrontation, this certainly cannot be ruled out. The aim of this paper is to project the future of the American and Chinese economies' dynamics of GDPs. The applied methodology is based on a linear projection of the GDP growth of both countries in the period after 2026
International relations through the prism of the new technological division of power
Get PDFThe aim of this paper is to determine which country has technological superiority in the field of industry by analysing the strategic approaches to the industrial development of three leading industrial countries (Germany, China, and the US), as well as selected indicators of industrial development. The results of the research show that China has the most ambitious approach and pretension to take a leading position in a large number of high-tech industries. Since 2014, China has become the second-largest industrial power, right after Germany, while the US has been in fourth place since 2017. China leads in terms of the share of industrial products in global trade and the share of manufacturing value added in the total world gross domestic product. Since 2015, China and Germany have developed intensive cooperation in the area of hi-tech industrial production, while bilateral relations between China and the US are tight due to the trade war. While the US, as the third-largest bilateral trading partner of Germany (after China and the Netherlands), is generating a trade deficit, China is making a breakthrough towards the European market, which is in line with the strategy of taking the position of a global leader in high technology
Harmonization of Serbian Competition Policy in Banking Sector with EU Regulations
Get PDFThe existence of a legal framework for the protection of competition is ”condicione sine qua non” for the modern market economy and fair market game in every industry. The purpose of this research is to analyze competition policy in the banking sector in Serbia and compare it with EU regulations to find out if the Serbian banking competition policy is aligned with EU standards. In this empirical research comparative analysis method has been applied. On the ground of received results, the empirical research shows that competition policy in the Serbian banking sector is moderately harmonized with EU rules
Public interest and global crisis: Pandemic and stabilitocracy in Serbia
No full textThe political order called stabilitocracy is in fact an autocratic order based on the undemocratic rule of a strong leader, an order of underdeveloped democratic institutions and a very limited rule of law, suppressed civil liberties, but supported by the EU and the US for “regional stability”. Although it is constituted as a state governed by the rule of law, in which there is a division of power into legislative, judicial and executive power, as a state in which civil rights and freedoms are supreme – in political practice there is no real division of power, the opposition is treated as an enemy is usurped state institutions and controlled private and state media. This was especially evident during the COVID-19 pandemic through the campaign on “care for the health of citizens” and through the election campaign held without basic conditions to be free and fair and at a time of health threats to citizens. Enormous power is concentrated in the hands of an autocrat who controls state and public institutions. All of this, seemingly, can be an advantage in making quick and efficient decisions in crises like a pandemic. Democracies are often criticized for being slow and inefficient, for having complicated procedures, and for these weaknesses to be especially evident in crises. However, the example of Serbia has shown that the opposite is true: all the weaknesses of autocracy in times of crisis are completely exposed, and the lack of democratic and liberal procedures and values directly affects the public interest. This especially refers to the fact that there is no institutional control of the executive and that the media are in the service of such an uncontrolled government, and not of the public interest. In times of crisis, it is shown that democratic “complicated” procedures and “complex ways of decision-making” are obstacles to political abuse and a security mechanism for the protection of the public interest
