THEORETICAL AND APPLIED PRINCIPLES OF FISCAL POLICY FORMATION IN THE CONDITIONS OF THE DEVELOPMENT OF UKRAINIAN-CHINESE ECONOMIC ACTIVITY
Abstract
The fiscal policy of the state is decisive in the process of state formation. At the same time, an inherent property of fiscal policy is its dynamism. This is especially relevant in the 21st century, when the formation of an information society with its characteristic properties and characteristics comes to the fore. In such conditions, the formation of fiscal policy takes place in the conditions of globalization, the intertwining of national economies and their segmentation in the world economic system. There is a need for coordination of national fiscal policy with partner countries for trade and economic cooperation, as well as taking into account the requirements of economic communities and associations of a planetary scale. Fiscal policy acts as an effective means of state regulation of socio-economic processes of the country, and in interstate relations it reflects the foreign economic position towards the partner country. Analyzing the Ukrainian-Chinese trade and economic cooperation over the past fifteen years, it is possible to state a steady trend of increasing its volumes. It is obvious that the development of comprehensive cooperation with China is important for Ukraine. At the same time, it is common knowledge that interstate relations are built not only on the principle of economic benefit of the latter, although the economic factor has a significant impact. Taking into account the fact that today China occupies a leading position in the world both in the political and economic plane, the position of Ukraine regarding the orientation of Ukrainian foreign policy and international economic cooperation in the Chinese direction becomes clear. It is relevant that Ukraine is not an exception in this choice, but rather one of the participants in global trade and economic processes, which include such leaders as the USA and the EU. Trade and economic cooperation between China and Ukraine, its scale encourages the coordination of the fiscal policy of both countries in order to develop mutually beneficial foundations for the development of relations in the economic and political plane. Considering the significance of the influence of the political factor on fiscal policy, it is included as a component in the process of modeling fiscal policy.
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