Suchergebnisse

The Chinese model of economic growth has produced impressive results in the
past several decades, while the rates of economic growth and exports and
imports growth have been the highest in the world. It has been based on cheap
money, cheap labour and resources, while the investment basis has been high
rates of reinvestment profits. The most dynamic sector of the Chinese
manufacturing exports has been processing trade. For this reason, it is
called export-led growth model. The new model, which was announced in 2011,
should result in some change of the main driving forces of exports growth -
apart from investments and exports, consumption should play a significant
role. In this way, growth would be driven by a combined impact of primary,
secondary and tertiary sectors, by stimulating of domestic consumption,
improvement of investment mix, further industrialisation, urbanisation and
modernisation of agriculture.

The paper analyses international flows and effects of a form of investment
capital in case of China. Apart from the fact that they are a form of imports
of foreign savings as a source of investment capital, foreign direct
investments are rightly considered one of the potentially most significant
factors of economic growth and international transfer of technology and
knowledge. The empirical research has confirmed that such their potential,
this also including the degree of its utilization, depends on the absorption
capacity of the host country. China has recorded the greatest rates of
economic growth in the last decade and its response to challenges of the
global economic crisis has been the most successful. Also, China is the
largest investment area in the world and the inflow of foreign direct
investments is very significant, resulting from the attractiveness of the
Chinese economy itself and measures for attracting foreign investments. The
Chinese experience with the effects of foreign direct investment has been
multiple, being both positive and negative, and it is very useful for other
countries. On the other side, Chinese investments abroad have recorded fast
growth rates, although their scope is still small in comparison to those of
the most developed countries and they are present only in trade flows.

This paper deals with the problem of adoption of new knowledge as the core factor of development and international competitiveness. Differences between countries in the level of GDP are largely caused by differences in the levels of technological development and the degree of productivity. R&D sectors and innovative activity are emerging as the key determinants of productivity growth and thus the international competitiveness of nations. The international diffusion of knowledge is an important contributor to the innovation in the national country. Different channels of knowledge diffusion have a different developmental potentials for the host country. FDI and TNCs investment are considered to be a large potential source of new technology and knowledge for host countries. The more technologies brought in the host country, the larger is the scope for technology and knowledge spillovers. Such effects may be significant, but they depend to a large extent on host countries' ability to accept and adopt available technologies and knowledge. If the technology gap between countries is too large, then the spillovers may not materialize.

In this paper the author analyses the main development potentials of foreign direct investments in different world regions. They are real and evident, but not always exploited. It is found out that the developed financial markets, good governance, developed institutions and the size of country have a great impact on the location choices of foreign investors. In developing countries economic, administrative and legislative reforms, as well as developed infrastructure networks, should improve a country's attractiveness for FDIs. In most countries, FDIs are concentrated in developed regions and sell the greatest share of their production on the local market. One of their parts is export-oriented, but at the same time, they are great importers from developed countries. The extent of spillovers is modest in most cases.

The author researched the foreign direct investment flows, patterns and effects in conditions of regional economic integration in Europe. The foreign direct investment presence results in two effects: first, increase in competition, and second, creation of forward and backward linkages between domestic firms and foreign affiliates. The benefits of foreign direct investment for their host countries take the form of various types of externalities or spillovers (of technology, knowledge, productivity). The potential spillover benefits could be realized if domestic firms have the capacity to absorb foreign technologies and skills.

Chinese investments abroad have recorded high growth rates in the last
decade, but its scope is still small in comparison to those of developed
industrial countries. The state plays a key role in its encouragement and
support directly and indirectly. Large state corporations are the biggest
investors abroad, somewhere investments of Chinese private companies
dominate, e.g. in Africa. There is a great geographic dispersion of
investment flows, while the highest concentration is in developing countries.
The main drivers of investment capital are trade, energy sources, natural
resources, infrastructure projects and acquisition of strategic assets. These
drivers are often are combined from two or more ones which are mutually
supportive.

In analyzing regional economic integration in Europe the authors pay special attention to the development in the European Union, for other forms of regional or sub regional integration at the continent are in fact mostly transitional and provisional, and directly connected with EU. The authors argue that in spite of considerable success and high level of integration of the EU, several important open issues remain in that process. They are results of mixed character of European integration: political and economic. Too many kinds of interests are of opposed character, and it is very hard to harmonize them in real politics. The main problems in the EU have their cause in the nature of European integration: international competitiveness of European economy, social character of European states, national productivity, challenges of enlargement.

The paper deals with two related issues that are important for Serbia's development: firstly, development prospects in agriculture and rural areas and, secondly, harmonization of rural development with the European integration process. The European Union market offers great export opportunities for the Serbian agriculture, the status of candidate country provide a number of benefits and support, but results will depend on success in improving two key determinants of competitiveness: productivity and quality. The present situation in rural areas is a result of earlier industrialization and urbanization, on the one hand, and of the transition process on the other. Its main characteristics are: depopulation, ageing of rural population, unbalanced regional development, and income disparity. Integral development of rural areas should be based on the following elements: multifunctional agriculture, diversification of economic activities in rural environment, rural and eco tourism, organic food production, small and medium-sized enterprises, and cooperation between small and medium producers. Such a development will lead to improved demographic, social, and income convergence. .

The Eurasian area has a very rich energy reserves, and is characterized by a complex network of relationships between major suppliers and consumers. The central place in this area has Russia as a country richest in energy resources in Eurasia. Beside her, the European Union is the largest economic and political grouping in the world, and a huge consumer of energy. The dynamic development of Chinese economy requires more energy imports by China. Dependence of the European Union and China on imported energy is high and will grow in the future. Russia is the world's dominant natural gas producer and one of the two largest oil producers in the world. Russia is the largest natural gas supplier of the EU and a significant oil and natural gas supplier of China. Energy projects in Eurasia are the result of the need to strengthen the stability of energy supplies, efforts to diversify sources of supply, and the geographic redistribution of Russian oil and gas exports. Although the interests of the main actors often do not agree, the reasons of energy security affect the development of joint energy projects.

Energy security may be defined, generally, as the availability of clean
energy sources at affordable prices. If a country or region does not have its
own sources of energy in the necessary extent, their energy security is in a
long-term threat. To this point, countries seek to achieve diversification of
energy sources and transport routes. This is one of the reasons for launching
new energy projects in Europe and Asia; the other is an attempt by Russia to
consolidate its dominant position on the part of the international energy
market; the third factor is the oil transnational corporations. Russia is the
dominant natural trading partner and Europe?s energy supplier. Problems with
the transit of natural gas and oil from Russia to Europe, which directly
threaten its energy security, were the reason to launch the new energy
projects.