China's strategic challenges on the road to becoming a global superpower

RESEARCH OBJECTIVE: The main goal of the article is to diagnose the current position of China in the international arena and to identify the strategic challenges that the government in Beijing will have to face within the currently implemented 13th Five -Year Plan. THE RESEARCH PROBLEM AND RESEARCH METHODS: Article has a descriptive and analytical nature. The purposes of this study required constructive criticism of literature and making an analysis of selected statistical data provided by international institutions. THE PROCESS OF ARGUMENTATION: The state of Chinese economy was presented, noting the gradual change of development model and implemented internal reforms. The next part includes the outline of the main international initiatives which are aimed at strengthening the political and economic position of the PRC. Then the strategic challenges for the PRC, which condition its further development were presented. The final part of this article includes a summary and conclusions. RESEARCH RESULTS: Firstly, the issue of economic relations built by China is strictly subordinated to the government policy, which is reflected in the 5-year plans, catalogues of preferred inward and outward foreign investment and the initiatives taken at international level. Secondly, the further pursuit of China to become a superpower will require profound changes, mostly related to the liberalization of investment policy, reforms of state-owned enterprises, further internationalization of RMB and demographic issues. CONCLUSIONS, INNOVATIONS AND RECOMMENDATIONS: Despite the growing opinion among scientists, politicians and journalists, China is not yet holding the leading position in the political and economic world, although it should be noted the weakening role of the United States and EU in certain regions of the world