Georgia-China economic cooperation before and during Covid-19 pandemic (საქართველო-ჩინეთის ეკონომიკური თანამშრომლობა COVID-19-ის პანდემიამდე და პანდემიის პერიოდში)
Loading...
Date
2020
Journal Title
Journal ISSN
Volume Title
Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
Covid-19 pandemic has changed the world. Initially seemed as healthcare
challenge, new Coronavirus managed to change not only medical,
but also economic, as well as almost all other aspects of our every day
life (Balogu, 2020). Coronomics even cooled down the global economic
interconnectedness which reached its historic heights in the 21st century
(Papava, Charaia, 2020). Consequently, countries are struggling to attract
foreign direct investment (FDI) and to expand trade (Barbate, 2020). Consequently,
Supply chains have slowed, consumer spending is down, political
reality vague, and most states have been unable to stave off recession.
At the same time, global crises often open up new opportunities that
can ultimately lead to progress and prosperity (Buheji, Ahmed, 2020). Under
these circumstances, countries big and small are looking for strategic
partnerships to overtake their competitors. This is why China, a rising
superpower, and Georgia, a middle-income country, have been enhancing
their economic relationship (Charaia, Papava, Wang, 2018).
Currently, cooperation between Georgia and China is less than between
Georgia and the West, but presents its own unique opportunities and
challenges. China Georgia cooperation is positive not only for this two, but
many other countries in the world, including S. Caucasus, Baltic and other
EU member states (Charaia, Chochia, Lashkhi, 2018), as well as for other
countries out from the given region. Despite the fact that Georgia - China
cooperation could cause some challenges from Georgia’s western partners,
it still tries to diversify its economic potential through cooperation with all
possible economic partners, including not only China, but even occupier -
Russian federation (Charaia, 2016), which could bring some level of stability
in good case, but total disaster in case of negative scenario.
Description
Aptsiauri D. (2020). Current Trends in the Development of Modern International
Economic Relations and Post-Virus Pandemic Crisis (COVID-19) Challenges. Expert
Opinion 139. https://www.gfsis.org/files/library/opinion-papers/139-expert-opinion-
eng.pdf
Balogu I. E. (2020). Coronomics and Global Economy. University of Suffolk, United
Kingdom. https://dlc.dlib.indiana.edu/dlc/bitstream/handle/10535/10731/Coronomics%
20and%20Global%20Economy.pdf?sequence=1&isAllowed=y
Barbate V. A., Aher D. N. (2020). Analysis of Covid-19 Pandemic Status Quo and
Global Trade Economic Crises. Dogo Rangsang Research Journal. http://www.drsrjournal.
com/no_12_june_20/14.pdf?i=1
Buheji M., Ahmed D. (2020). Foresight of Coronavirus (COVID-19) Opportunities
for a Better world. American Journal of Economics, 10(2), pp.97-108. https://www.
researchgate.net/profile/Mohamed_Buheji/publication/339973652_Foresight_
of_Coronavirus_COVID-19_Opportunities_for_a_Better_World/links/5e9839f1299bf130799eabed/
Foresight-of-Coronavirus-COVID-19-Opportunities-for-a-Better-
World.pdf
Charaia V. (2016). Economics of Conflict: Core Economic Dimensions of the Georgian-
South Ossetian Context. International Journal of Humanities and Social Sciences,
3 (10), p.1. https://www.researchgate.net/profile/Vakhtang_Charaia/publication/311713339_Economics_of_Conflict_Core_Economic_Dimensions_of_the_
Georgian-South_Ossetian_Context/links/5856c3d908aeff086bfbd032/Economics-
of-Conflict-Core-Economic-Dimensions-of-the-Georgian-South-Ossetian-Context.
pdf
Charaia V., Chochia A., Lashkhi M. (2018). The Caucasus 3 Plus the Baltic 3 and
Economic Cooperation with China. Baltic Journal of European Studies, 8(2), pp.44-
64. https://content.sciendo.com/view/journals/bjes/8/2/article-p44.xml?language=
en
Charaia V., Chochia A., Lashkhi M. (2020). The impact of fdi on Economic development:
The Case of Georgia. TalTech Journal of European Studies, 10(2), pp.96-116.
https://content.sciendo.com/view/journals/bjes/10/2/article-p96.xml
Charaia V., Lashkhi M. (2018). An Analysies of the Motives Underlying Foreign Direct
Investments (the Case of Georgia). Central Asia & the Caucasus (14046091), 19(4).
https://web.b.ebscohost.com/
Charaia V., Papava V. (2017). Belt and Road Initiative: Implications for Georgia and
China-Georgia Economic Relations. China Int’l Stud., 67, p.122. http://eprints.tsu.
ge/369/1/Charaia-Papava_Belt-and-Road_Georgia.pdf
Charaia V., Papava V., Wang W. (2018). China-Georgia Economic Relations in the
Context of the Belt and Road Initiative. Bull. Georg. Natl. Acad. Sci, 12(1). http://
science.org.ge/bnas/t12-n1/25_Charaia.pdf
Georgian National Tourism Administration. (2020). Statistics. https://gnta.ge/statistics/
Internatioanl Monetary Fund. (2020). The Global Economic Outlook During the
COVID-19 Pandemic: A Changed World. https://www.worldbank.org/en/news/feature/
2020/06/08/the-global-economic-outlook-during-the-covid-19-pandemica-
changed-world
Ministry of Economy and Sustainable Development of Georgia. 2017. Georgia-China
Free Trade Agreement. http://www.economy.ge/?page=news&nw=206&lang=en
National Bank of Georgia. (2020). Statistical Data. https://www.nbg.gov.ge/index.
php?m=308
National Statistics Office of Georgia. (2020). External Trade. https://www.geostat.
ge/en/modules/categories/35/external-trade
National Statistics Office of Georgia. (2020). Foreign Direct Investments. https://
www.geostat.ge/en/modules/categories/191/foreign-direct-investments
OECD. (2020). The Global Outlook is Highly Uncertain. https://www.oecd.org/economic-
outlook/june-2020/?utm_source=facebook&utm_medium=social&utm_
campaign=ecooutlookjun2020&utm_content=en&utm_term=pac
Papava V., Charaia V. (2020). The Coronomic Crisis and Some Challenges for the
Georgian Economy. GFSIS, Expert Opinion, (136). https://www.gfsis.org/files/library/
opinion-papers/136-expert-opinion-eng.pdf
World Investment Report. (2020). UNCTAD. https://unctad.org/webflyer/world-investment-
report-2020
Keywords
Coronomics, global economics, China-Georgia economic relations
Citation
Economics and Business, №4, 2020, pp. 43-53