Abstract

Unequal regional development means a gap between economic indicators and the well-being of the local population. This issue interests scientific communities from countries with different economic backgrounds. China still experiences economic differences between Eastern, Central, and Western regions, as well as an intraregional gap between rural and urban areas. The state measures of economic, social, and territorial cohesion include regional development strategies, infrastructure development, and the One Belt, One Road initiative. According to Professor V. L. Kvint, favorable investment climate forms regional competitiveness. As a result, the local economy attracts developing companies while maintaining or improving the standard of living of all stakeholders. China’s experience with its economic boom may help to resolve the global issue of interregional inequality while serving as a model for other states on the path to socio-economic shift. The article describes the Chinese experience in overcoming regional inequality caused by various socioeconomic reasons. The author studied the socio-economic situation in the Pearl River Delta to conduct its OTSW analysis and formulate recommendations based on the Chinese experience.

Keywords

China, regional strategizing, macro-regions, socio-economic strategy, OTSW analysis

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