China-Ukraine economic relations in the context of Russian-Ukrainian war
Вантажиться...
Дата
2024
Науковий керівник
Укладач
Редактор
Назва журналу
ISSN
E-ISSN
Назва тому
Видавець
Liha-Pres
Анотація
In 2022, the world economy slowed down sharply as a result of Russia’s invasion of Ukraine, the tightening of monetary policy by countries to curb high inflation, fluctuations in world prices on commodity markets, as well as disruption of supply chains due to China’s “zero-Covid” policy. So, according to the IMF, the world GDP growth rate was 3.5% in 2022 compared to 6.3% in 2021. In Ukraine, the change in real GDP was -29.04%, while in China, the economy grew by 3%.
The Russian invasion of Ukraine led to significant disruptions in production, logistics and trade in raw materials, the key exporters of which are Ukraine and the Russian Federation. In the first half of 2022, world prices rose sharply for all energy resources and some food commodities, including wheat and oil crops. According to the IMF, from February to August 2022, global commodity prices increased by 19.1%, in particular, fuel and energy resources, especially natural gas, increased by 129.2%, while prices of base metals fell by 19.3%, precious metals – by 6%, agricultural products – by 5.4% [1]. Such fluctuations in the prices of food raw materials are due to the war in Ukraine, the Black Sea Grain Initiative, weather conditions and the rapid increase in fertilizer prices. According to UN data, despite constant massive Russian missile attacks, shelling and blockade, the Black Sea Grain Initiative contributed to the export of more than 32 million tons of Ukrainian food to 45 countries. In particular, China received 8 million tons as part of the Grain Initiative. However, according to the estimates of the Ministry of Development of Communities and Territories of Ukraine, due to sabotage by the Russian side, importing countries have not received about 20 million tons of food.
The article was prepared within the research project: “Socio-economic impact of the COVID-19 pandemic and Russia’s full-scale invasion on the development of EU and Ukraine: fostering research collaborations through establishing of a digital knowledge exchange platform”. This project has received funding from the European Union’s Horizon 2020 Research and Innovation programme under Grant Agreement no. 871072.
Опис
Ключові слова
world economy, Russia’s invasion of Ukraine, China, Ukraine, Ukrainian-Chinese trade relations
Бібліографічний опис
Roznovska P. China-Ukraine economic relations in the context of Russian-Ukrainian war / P. Roznovska, S. Yakubovskiy // Реформування та стабілізація економіки в контексті міжнародного співробітництва : матеріали Всеукр. наук.-практ. конф. (Одеса, 25 жовт. 2024 р.) / відп. за випуск д.е.н., проф. С. О. Якубовський. – Львів–Торунь : Liha-Pres, 2024. – С. 169–173.