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The Phenomenon of the 4th Industrial Revolution and Its Impact on China's Economic Development

Student: Margarita Vlasova

Supervisor: Inga Ivanova

Faculty: Faculty of World Economy and International Affairs

Educational Programme: Asian Studies (Bachelor)

Year of Graduation: 2020

The fourth industrial revolution leads to partial automation and robotization of industry, combines the virtual world with the real one, and deepens the integration of digital technologies into people's lives. Over 40 years of economic reforms, China has managed to overcome the lag behind developed countries and become one of the largest industrial powers. The Chinese government has decided not only to participate in the development of innovative technologies, but to become a leader in this field. Despite the decline in economic growth, China manages to maintain a general trend of development, and to increase the well-being of the population. The paper examines the degree to which digital technologies affect economic development of the people's Republic of China; provides a brief description of the fourth industrial revolution and its main aspects; describes the government's policy to set goals for economic development in the future and ways to achieve them. The study also examines the digital economy of China and how it changes the country's economic development.

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