Suslov Denis V.

At the current stage of global economic development, the Northeast Asian region (NEA) has become a key epicenter of geopolitical and geoeconomic rivalry. Amidst the large-scale transformation of global production and supply chains, fragmentation of the global economy, accelerated technological decoupling, and the crisis of traditional multilateral institutions, the NEA countries are forced to radically revise their approaches to macroeconomic regulation of the foreign direct investment (FDI). This article provides a comprehensive comparative analysis of institutional regimes for attracting FDI in Japan, China, and the Republic of Korea for the period of 2020-2025. Key components of national regulatory systems are examined in detail, including differentiated tax incentives, the functioning of various types of special economic zones, legal and regulatory mechanisms for intellectual property (IP) protection, and the specifics of national labor legislation. Based on macroeconomic data and recognized international indices (OECD, Kearney), the strengths and weaknesses of each country's regime are identified, as well as the specifics of their strategic approaches to integrating into global capital flows in the form of FDI considering the geopolitical turbulence. A comparative analysis of the institutional regimes for attracting FDI in China, Japan, and the Republic of Korea reveals that there is no clear leader in terms of its favourability for foreign investors. Japan has created the most liberal and predictable investment regime, while China maintains its leadership in strategic attractiveness for investors and global companies, and the Republic of Korea offers balanced conditions with an emphasis on high-tech industries. Overall, changes in institutional regimes in 2020-2025 demonstrate that all three Northeast Asian countries are consistently shifting the regulatory focus from simple project control over foreign- invested enterprises to an end-to-end management of the investment lifecycle in companies, building strict protective perimeters around national technological bases, which is taken into account by global businesses when planning long-term international expansion and placing direct investments.

The paper examines current global and regional (for Northeast Asian countries) trends in foreign direct investment (FDI) in 2015-2024. The identifi fragmentation processes in world economy are fundamentally changing the FDI landscape in Northeast Asia. The region is no longer a monolithic «world factory» of a global economy. Today the region represents a complex mosaic of interconnected but fragmented capital fl in the form of FDI, where investment decisions are based on market assessments, taking into account geopolitical risks, national security considerations, and sustainability desire (or uncertainty minimization). China’s economy is adapting to these processes, Japan and the Republic of Korea are diversifying FDI fl The Southeast Asian region as a whole is benefi from this investment redistribution.

The article presents the parameters for foreign direct investment (FDI) attracting into the economy of the Far Eastern Federal District (FEFD) in 2019-2021. The article qualitatively assesses the established trends in attracting foreign direct investment (FDI) to the economy of the Far Eastern Federal District (FEFD) in the 2010s and at the turn of 2019-2021 based on the analysis of the dynamics of FDI infl by territory, industry and country (including NEA countries) according to the Bank of Russia. It is found that signifi industry asymmetry in FDI attracting remained in the FEFD until the period 2022-2024; the overwhelming majority (about 90%) of accumulated FDI was concentrated in the extraction of fuel and energy minerals together with geological exploration. At the same time, the geographic structure of FDI attracted to the FEFD remained the same, as well as their territorial distribution among the subjects of the FEFD did not change signifi In addition, it is determined that in the context of the new geopolitical reality, sanctions pressure and direct prohibitions from unfriendly countries, the withdrawal of companies from large and medium-sized projects implemented in the Far East, there is a high degree of probability for forming negative trends both in the current infl of FDI into the economy of the region, especially from unfriendly countries (including Japan and the Republic of Korea), and a decrease in the total balances of FDI in general for the Far Eastern Federal District and its subjects. It is revealed that the current fi and economic activities of enterprises with foreign participation in 2022-2023 continued and did not change signifi contributed to the economic development of the region and its subjects. Despite the existing geopolitical risks and economic uncertainty in 2022-2024, in general, positive dynamics of capital investments in projects implemented by foreign investors (especially Chinese investors) in territories with special regimes have been maintained, which, unfortunately, have not yet led to a serious change in the interaction of FDI and the regional macro- and microeconomy.

The article shows trends and problems in economic development in the NEA countries (PRC, Japan, the Republic of Korea) in the post-pandemic period (2022-2023). It was argued that during the period under review, the recovery dynamics and development trends of the NEA economies were invariant to geopolitical tensions in the world and were influenced by macroeconomic conditions, as well as sectoral, investment, financial and trade and economic risks of both internal and external nature. It has been showed that at the turn of 2022-23 the formation of more stable macroeconomic trends in NEA countries took place. In China, a trend is emerging towards a decrease in the rate of economic development to 5% per year. For Japan and the Republic of Korea, factors limiting economic growth rates (not exceeding 2% per year) are overheating of the domestic markets for consumer goods and real estate, a decrease in the positive impact of external interactions on domestic development, as well as the negative demographic dynamics.

The parameters and assessment of the state economic policy measures to eliminate the economic shocks of the COVID-19 pandemic in Japan from Jan., 2020 till Jul., 2021 are carried out. It was revealed that the economic policy of responding to the shocks of the COVID-19 pandemic was timely and adequate to the current crisis. It was confirmed that in 2020, compared to other developed countries, it was possible to effectively use its health care system in the fight against COVID-19 and reduce economic losses in the initial stage of the pandemic. This was due to the correct choice of both epidemiological strategies and monetary and structural policies. It is also confirmed that the package of anti-crisis measures turned out to be one of the largest in the world in terms of volume and that in the coming years

The article examines the main directions of shifts in the development programs of the national economies of China and Russia that occurred during the global crisis of 2020-2021. The authors evaluate the new institutional trends that determine the direction of development in the medium term, their impact on the potential for enhancing promising interaction between the countries. Based on the analysis of the new architecture of macroeconomic institutions, the segments for strengthening the strategic partnership between Russia and China are identified, as well as possible difficulties and risks of mismatch in the process of implementing the promising joint development programs that accompany the processes of internal institutional reforms.

В статье проанализирована динамика и структура привлечения прямых иностранных инвестиций на Дальний Восток России в 2015–2018 гг. Рассмотрены агрегированные характеристики проектов, осуществляемых предприятиями с иностранными инвестициями в преференциальных режимах «территория опережающего развития» (далее – ТОР) и «Свободный порт Владивосток» (далее – СПВ). Показаны лидирующие позиции Китая среди стран-инвесторов. Рассмотрено влияние региональной организации экономики, включая специальные институциональные режимы, на перспективное инвестиционное сотрудничество. Оценена роль новой Зоны свободной торговли, созданной в провинции Хэйлунцзян, в привлечении российских инвестиций в экономические проекты, реализуемые в КНР. Выделены основные направления российско-китайского инвестиционного сотрудничества на среднесрочную перспективу. ; Ключевые слова:Дальний Восток России, КНР, провинция Хэйлунцзян, прямые иностранные инвестиции, региональное сотрудничество, проекты, ТОР, СПВ, Зона свободной торговли.

Туризм в приграничных районах Китайской Народной Республики (далее – КНР) и Российской Федерации (далее – РФ) является важной частью всестороннего сотрудничества между двумя странами. Региональные возможности Дальневосточного региона России для активизации этого сектора экономики пока используются в недостаточной степени. В статье показаны количественные и качественные изменения, происходящие в туристической отрасли на примере Хабаровского края; представлены предложения по модернизации процесса предоставления туристических услуг. Отмечено, что необходимы совместное разрешение ряда проблем, ограничивающих его развитие, а также совместные усилия, содействующие эффективному и устойчивому трансграничному сотрудничеству двух стран. ; Ключевые слова: Россия, Китай, туризм, приграничные районы, сотрудничество.

The trends of integration of the Far East of Russia with the countries of the Northeast Asia (NEA) are shown in the article. For a long time, the main form of integration of the Far-Eastern economy with NEA was the foreign trade. At the same time, the pa-rameters and structure of foreign trade in the Far East are mainly determined by in-teractions with the NEA countries (China, Korea, and Japan). In the medium term, formation of the volume and structure of the Far-Eastern foreign trade will depend on the structure and dynamics of external demand from these countries in improving the overall market situation, as well as the economic situation in the main industries providing the export deliveries, as well as stabilizing and expanding demand for the imported products.

В статье рассмотрены проблемы экономических взаимодействий КНР и России. Проведен анализ торговых и инвестиционных взаимодействий России и Китая в 2015 г. Показаны возможные сценарии и перспективы развития двусторонних экономических взаимодействий. В статье представлены оценки сложившегося состояния российско-китайского сотрудничества на Дальнем Востоке России. По удельному весу (26,2%) в общем объеме внешней торговли Дальневосточного федерального округа (далее – ДФО) в 2015 г. Китай занял второе место. Основными торговыми партнерами КНР среди субъектов ДФО в 2015 г. оставались Приморский край, Сахалинская область, Хабаровский край, Амурская область. Проведен анализ реализации Программы сотрудничества между регионами Дальнего Востока и Восточной Сибири Российской Федерации и Северо-Востока Китайской Народной Республики (2009 – 2018 гг.). Выделены проблемы в реализации инвестиционных проектов программы. Определены перспективы двусторонних экономических взаимодействий в свете реализации Проекта «Экономический пояс Шелкового пути».

The article discusses the variant of macroeconomic reforms initiated by the Prime Minister Abe, implemented in Japan in 2013. The domestic economic and integration consequences of the "Abenomics" are considered in the article. We evaluate the outcomes and the possible transformation of the economic system of the country and its impact on the situation in the Asia-Pacific region. Thus, we can assume that some success thanks to Abenomics the Abe government has been achieved, but this is just the first step for the country's economy way out of stagnation and achieve the ambitious goal to return Japan to the forefront in the global economy. Interception of regional leadership in the Asia-Pacific region has not yet succeeded. It is obvious that in the new version of “flying geese" Japan has little chance of becoming a leader.

In March, 2013 the People's Republic of China President Si Tszin’pin visited Russia and raised the relations of strategic partnership for our countries on new level. In this situation comprehensive increase of the economic relations between China and Russia has important strategic value that is the actual requirement of transformation of the high quality mutual respect in business cooperation, the mutual answer to the world financial crisis, the mutual development of economy

The main integration processes in Asia-Pacific Region concerning the participation of Russia are considered in the article. The evaluating of incorporating of the Russian Far East into the existing system of economic relations in this region of the world is assessed. The perspective effects of interactions for the national economy with the main partners in APEC are determined.

The main integration processes in Asia Pacific concerning the participation of Russia are considered in the article. The evaluating of incorporating of the Russian Far East into existing system of the economic relations in this region of the world is assessed. The perspective effects of interactions for national economy with the main partners in APEC are determined.