Comparative Analysis of Trends in the Ukrainian and Chinese Economies

Abstract

Nowadays, the global economic environment is full of uncertainties. Affected by the novel coronavirus epidemic, the economies of various countries are developing slowly or falling into recession. In this case, countries face different uncertainties. The article analyzes the economic development direction of China and Ukraine. Judging from the GDP per capita of both Ukraine and China in the past ten years, China has been growing steadily every year, while Ukraine has changed more. Therefore, the article analyzes the strengths and weaknesses of the 12 pillars of the Global Competitiveness Index for the two countries through the period of 2018–2019, an indicator that measures a country’s ability to grow in the medium and long term. It is found that Ukraine has problems in stability and macroeconomic stability, while China has problems in social cohesion and innovation ability, and puts forward corrective opinions to determine the direction of development. In addition, by analyzing the overall ranking of China and Ukraine in the Global Competitiveness Index from 2009 to 2019, it is found that the economic growth capacity of these countries has partially developed in the same direction in the past decade. However, due to the influence of political and macroeconomic factors, the focus of the development of these countries is to hope that the countries will correct the existing problems as soon as possible, formulate corresponding policy plans, and strengthen and ensure the implementation of the relevant policy. In addition, our countries will continue to strengthen the construction of global integration, reduce trade barriers, increase the liquidity of commodities, speed up the processes, promote the circulation of production factors, accelerate economic growth, and enhance competitiveness. The future can be expected.