,
Olena Petrivna Dovzhyk,
Anatoly Sergiyovych Zhokhin,
Wolodymyr Hlib Kozyrski,
Andrii Pylypovych Makhort
The paper analyses trade between the most developed economies of the world. The analysis is based on the previously proposed model of international trade. This model of international trade is based on the theory of general economic equilibrium. The demand for goods in this model is built on the import of goods by each of the countries participating in the trade. The structure of supply of goods in this model is determined by the structure of exports of each country. It is proved that in such a model, given a certain structure of supply and demand, there exists a so-called ideal equilibrium state in which the trade balance of each country is zero. Under certain conditions on the structure of supply and demand, there is an equilibrium state in which each country have a strictly positive trade balance. Among the equilibrium states under a certain structure of supply and demand, there are some that differ from the ones described above. Such states are characterized by the fact that there is an inequitable distribution of income between the participants in the trade. Such states are called degenerate. In this paper, based on the previously proposed model of international trade, an analysis of the dynamics of international trade of 8 of the world's most developed economies is made. It is shown that trade between these countries was not in a state of economic equilibrium. The found relative equilibrium price vector turned out to be very degenerate, which indicates the unequal exchange of goods on the market of the 8 studied countries. An analysis of the dynamics of supply to the market of the world's most developed economies showed an increase in China's share. The same applies to the share of demand.
| Published in | American Journal of Management Science and Engineering (Volume 9, Issue 6) |
| DOI | 10.11648/j.ajmse.20240906.11 |
| Page(s) | 116-123 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Equilibrium State, Ideal Equilibrium, Recession Phenomenon, International Trade
| [1] | Gonchar, N. S., Dovzhyk, O. P., Zhokhin, A. S., Kozyrski, W. H. and Makhort, A. P. International Trade and Global Economy. Modern Economy, 2022, 13. 901-943. |
| [2] | Gonchar, N. S. Mathematical foundations of information economics. Bogolyubov Institute for Theoretical Physics, Kiev, 2008, 468p. |
| [3] | Gonchar, N. S. Economy Function in the Mode of Sustainable Development. Advances in Pure Mathematics, 2024, 14, 242-282. |
| [4] | Gonchar, N. S. Economy Equilibrium and Sustainable Development. Advances in Pure Mathematics,2023,13, 316-346. |
| [5] | Gonchar, N. S. Mathematical Foundations of Sustainable Economy Development. Advances in Pure Mathematics, 2023, 13, 369-401. |
| [6] | Gonchar, N. S. and Dovzhyk, O. P. On the Sustainable Economy Development of Some European Countries. Journal of Modern Economy, 2022, 5, 1-14. |
| [7] | Gonchar, N. S. Mode of sustainable economic development, arXiv:2405.09984 [econ. GN], 2024, |
| [8] | Yali Chen, Zheng Xiang Application of economic model optimization algorithm for international trade based on bigdata technology, 2023, 14 p. |
| [9] | Rahman, A. A. The Basic Laws of Trade: Reconstructing the Theory of International Trade. 2022, GCI Working Paper No 2-2022, 49 p. |
| [10] | Piotr Rubaj International Tradeas a Key Factor for Sustanable Economic Development. European Research Studies Journal Vol XXV, Issue 4, 2022, p. 195–206, |
| [11] | Lewkowicz, J. Thoughtson the Political Economy of International Trade. Central European Economic Journal, 2024, 11(58), 33–41. |
| [12] | Zdzisław W. Puślecki Rebuilding Of International Trade And Investment, ISRG Journal of Economics, Business, & management, 2024, Vol. II, Issue II, p. 56–65. |
| [13] | Wentao Cui, Ziyu Li Reasons for International Trade Barriers and Suggestions to Eliminate Trade Barriers. Proc. 2nd International Conference on Financial Technology and Business Analysis, 2023, p.141–151. |
| [14] |
World Integrated Trade Solution. WITS. Available from:
http://wits.worldbank.org/ (accessed 6 October 2022). |
| [15] | The Organization for Economic Co-operation and Development. OECD. Available from: |
APA Style
Gonchar, N. S., Dovzhyk, O. P., Zhokhin, A. S., Kozyrski, W. H., Makhort, A. P. (2024). China and G7 in the Current Context of the World Trading. American Journal of Management Science and Engineering, 9(6), 116-123. https://doi.org/10.11648/j.ajmse.20240906.11
ACS Style
Gonchar, N. S.; Dovzhyk, O. P.; Zhokhin, A. S.; Kozyrski, W. H.; Makhort, A. P. China and G7 in the Current Context of the World Trading. Am. J. Manag. Sci. Eng. 2024, 9(6), 116-123. doi: 10.11648/j.ajmse.20240906.11
AMA Style
Gonchar NS, Dovzhyk OP, Zhokhin AS, Kozyrski WH, Makhort AP. China and G7 in the Current Context of the World Trading. Am J Manag Sci Eng. 2024;9(6):116-123. doi: 10.11648/j.ajmse.20240906.11
Share This Article
Twitter
Linked In
Facebook
Copy
Download@article{10.11648/j.ajmse.20240906.11,
author = {Nicholas Simon Gonchar and Olena Petrivna Dovzhyk and Anatoly Sergiyovych Zhokhin and Wolodymyr Hlib Kozyrski and Andrii Pylypovych Makhort},
title = {China and G7 in the Current Context of the World Trading
},
journal = {American Journal of Management Science and Engineering},
volume = {9},
number = {6},
pages = {116-123},
doi = {10.11648/j.ajmse.20240906.11},
url = {https://doi.org/10.11648/j.ajmse.20240906.11},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajmse.20240906.11},
abstract = {The paper analyses trade between the most developed economies of the world. The analysis is based on the previously proposed model of international trade. This model of international trade is based on the theory of general economic equilibrium. The demand for goods in this model is built on the import of goods by each of the countries participating in the trade. The structure of supply of goods in this model is determined by the structure of exports of each country. It is proved that in such a model, given a certain structure of supply and demand, there exists a so-called ideal equilibrium state in which the trade balance of each country is zero. Under certain conditions on the structure of supply and demand, there is an equilibrium state in which each country have a strictly positive trade balance. Among the equilibrium states under a certain structure of supply and demand, there are some that differ from the ones described above. Such states are characterized by the fact that there is an inequitable distribution of income between the participants in the trade. Such states are called degenerate. In this paper, based on the previously proposed model of international trade, an analysis of the dynamics of international trade of 8 of the world's most developed economies is made. It is shown that trade between these countries was not in a state of economic equilibrium. The found relative equilibrium price vector turned out to be very degenerate, which indicates the unequal exchange of goods on the market of the 8 studied countries. An analysis of the dynamics of supply to the market of the world's most developed economies showed an increase in China's share. The same applies to the share of demand.
},
year = {2024}
}
TY - JOUR T1 - China and G7 in the Current Context of the World Trading AU - Nicholas Simon Gonchar AU - Olena Petrivna Dovzhyk AU - Anatoly Sergiyovych Zhokhin AU - Wolodymyr Hlib Kozyrski AU - Andrii Pylypovych Makhort Y1 - 2024/11/21 PY - 2024 N1 - https://doi.org/10.11648/j.ajmse.20240906.11 DO - 10.11648/j.ajmse.20240906.11 T2 - American Journal of Management Science and Engineering JF - American Journal of Management Science and Engineering JO - American Journal of Management Science and Engineering SP - 116 EP - 123 PB - Science Publishing Group SN - 2575-1379 UR - https://doi.org/10.11648/j.ajmse.20240906.11 AB - The paper analyses trade between the most developed economies of the world. The analysis is based on the previously proposed model of international trade. This model of international trade is based on the theory of general economic equilibrium. The demand for goods in this model is built on the import of goods by each of the countries participating in the trade. The structure of supply of goods in this model is determined by the structure of exports of each country. It is proved that in such a model, given a certain structure of supply and demand, there exists a so-called ideal equilibrium state in which the trade balance of each country is zero. Under certain conditions on the structure of supply and demand, there is an equilibrium state in which each country have a strictly positive trade balance. Among the equilibrium states under a certain structure of supply and demand, there are some that differ from the ones described above. Such states are characterized by the fact that there is an inequitable distribution of income between the participants in the trade. Such states are called degenerate. In this paper, based on the previously proposed model of international trade, an analysis of the dynamics of international trade of 8 of the world's most developed economies is made. It is shown that trade between these countries was not in a state of economic equilibrium. The found relative equilibrium price vector turned out to be very degenerate, which indicates the unequal exchange of goods on the market of the 8 studied countries. An analysis of the dynamics of supply to the market of the world's most developed economies showed an increase in China's share. The same applies to the share of demand. VL - 9 IS - 6 ER -
Mathematical Modelling Labaratory of Synergetics, Bogolyubov Institute for Theoretical Physics of NAS of Ukraine, Kyiv, Ukraine
Mathematical Modelling Labaratory of Synergetics, Bogolyubov Institute for Theoretical Physics of NAS of Ukraine, Kyiv, Ukraine
Mathematical Modelling Labaratory of Synergetics, Bogolyubov Institute for Theoretical Physics of NAS of Ukraine, Kyiv, Ukraine
Mathematical Modelling Labaratory of Synergetics, Bogolyubov Institute for Theoretical Physics of NAS of Ukraine, Kyiv, Ukraine
Mathematical Modelling Labaratory of Synergetics, Bogolyubov Institute for Theoretical Physics of NAS of Ukraine, Kyiv, Ukraine
Information