UKRAINIAN-CHINESE ECONOMIC COOPERATION IN THE CONTEXT OF FOREIGN ECONOMIC SECURITY

Abstract

This paper analyzes main preconditions and peculiarities of foreign economic relations between Ukraine and China in the modern world. The mechanism of international economic relations between the two countries is considered and the priority promising areas for further development of foreign economic relations between China and Ukraine are singled out. The prospects for the domestic industry, agriculture, and scientific cooperation are identified. The essence of foreign economic security is defined and its possible threats in the event of expansion of economic cooperation between Ukraine and China are emphasized. The volume and structure of foreign investment are described as one of the most important aspects of ensuring foreign economic security. Investment should be attracted primarily to the effective priority economic projects producing competitive products that will have a positive impact on ensuring foreign economic security. Currently, investing in agriculture is particularly relevant in the context of ensuring the country’s own food security. The essence of export and import security as the components of foreign economic security is studied. The structure of oreign trade concerning goods and services between Ukraine and China is analyzed, and its asymmetry and non-equivalence, which adversely affect the state of foreign economic security of Ukraine, are emphasized. The description of the structure of Ukrainian exports to and imports from China is given; its characteristic features are identified and the areas of its improvement in the context of strengthening the state foreign economic security are singled out. Since most threats of economic cooperation between Ukraine and China are related to the structure of Ukrainian exports to China, one of the areas of ensuring foreign economic security is the reduction of raw materials in Ukrainian exports and expansion of the range of goods.Also it is made clear that the prevalence of high-tech imports over exports leads to external technological dependence and deepening of structural imbalances in the economy.The model of the relationship between economic cooperation and foreign economic security of Ukraine is presented. Main forms of economic cooperation and threats to Ukraine's foreign economic security are described. The suggestions to enhance cooperation between Ukraine and China are grounded, which are to ensure the high level of development while minimizing threats to foreign economic security. Thus, the most promising are those forms of cooperation that allow combining the sale of high-tech products and technologies by Ukraine with the development of relevant industries in China. It is also significant to enhance the effectiveness of public policy to support export-oriented enterprises.