Construction In Russia And China: A Comparative Analysis

Abstract

Analysis of global trends suggests that in the coming years after the end of the pandemic caused by the virus COVID-19, the volume of construction will increase significantly. This will directly affect both the construction of new industrial enterprises, residential buildings, and infrastructure facilities. The construction industry in any country in the world has a multiplicative effect. Economists estimate that an increase in infrastructure investment of 1% of GDP could help create several million jobs. Thus, according to the McKinsey Global Institute, such an increase in infrastructure investment will create 1.3 million new jobs in Brazil, 1.5 million jobs in the United States and up to 3.4 million jobs in India. Considering these and other qualities of the construction industry, including innovation, the leadership of the leading countries of the world is taking action and has been instrumental in providing the construction industry with everything necessary for effective work: highly qualified staff, efficient machinery, quality building materials, and also preferential financing. This is exactly what they do in China, the world's second-largest country by nominal GDP. In this article, the authors made an attempt to compare construction in Russia with construction in China and draw appropriate conclusions based on a comparative analysis.

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This article is 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, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.

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Publisher

European Publisher

First Online

25.09.2021

Doi

10.15405/epsbs.2021.09.02.17

Online ISSN

2357-1330