ABSTRACT
The foreign economic policy of China is primarily determined by endogenous factors resulting from the country's substantial human and economic potential. Foreign economic policy was reduced to a trade policy in its typical autarkic form, with importers supplying products necessary for the implementation of key development plans in industry and exporters selling goods necessary to finance imports. Globalization of the Chinese economic policy is a process that combines 'software' and 'hardware' elements. In 1977, the 15th Congress of the Chinese Communist Party endorsed a package of reforms which marked the second stage of globalization of economic policy. China's economic policy, including foreign economic policy, resembled the post-Keynesian pro-supply policy rather than the liberal and monetarist pro-demand policy. The high competitiveness of the Chinese economy makes the country an increasingly active participant of globalization in the world economy.
