FEZ: negative and positive aspects
Special economic zones (SEZs) or, as they are more often called in Soviet literature, joint venture zones, are a progressive form of international cooperation that has recently become widespread in many countries. Featuring special preferential conditions for the import and export of goods and capital, these Territories provide more profitable opportunities for foreign relations, attracting foreign capital and technology, and expanding exports of goods and services.
Eastern European countries lack many of the features of China. FEZs in these countries are, as a rule, microzones closely connected with international transport by transit cargo flows. The orientation of the FEZ towards modern technologies, the creation of technopolises, etc. may be promising.
Formed in 1980. Xiamen FEZ in China originally covered an area of 2.5 km2.
Now it covers an area of 131 km2 and has become a major industrial and commercial center of the country. The Dongdu zone port accepts vessels up to 50,000 tons, has a modern container terminal, and is connected by regulatory lines to Shanghai, Guangzhou, Hong Kong, and Singapore.
The FEZ experience also has negative aspects. First of all, almost nowhere have the hopes placed on the FEZ to attract foreign investment and the latest technologies been fully realized. Practice has shown that expanding the inflow of foreign capital requires huge government investments in the FEZ. The concepts and objectives of the FEZ were not always well thought out, and the latter often did not coincide with the interests of foreign partners. Social problems have arisen related to higher wages in the FEZ, the flow of skilled labor there, and the exclusion of the zone's territory (in China) from other parts of the country , etc. All these consequences should be taken into account when developing joint venture zones in the USSR.
The positive results of the FEZ's activities for the expansion of foreign economic relations are obvious. In the Eastern European countries, FEZs arouse interest and certain expectations, since they are territories that differ fundamentally in the principles of farming, are not connected with a centralized planning system and represent "landfills" for testing new forms and conditions of management. The role of FEZs in boosting regional development is sufficiently clear: in the USSR, more than 30 regions and districts expressed their interest in creating joint venture zones.
It should be borne in mind that the FEZ is one of the elements of a set of measures to create an open economy integrated into the global economy, and it makes sense in combination with other steps in this direction. Apart from measures to regulate and liberalize external relations, put the financial system in order, provide legal support for the activities of participants in foreign economic relations, etc., the FEZs are likely to have their negative consequences. An important role is played by creating conditions of stability for all participants in the functioning of the zones, their confidence that the rules governing activities in the FEZ will not change. On the other hand, strict compliance with the legislation of the country, including labor legislation, must be an indispensable condition in the territory of the zone. For slot lovers, a bigger casino package may appear: up to $1950 in matched credits and 150 free spins split across 3 deposits. If you plan multiple deposits, map out dates so each stage can be cleared before it expires. While registering, type the 1xbet casino promo code in the middle section so the promotion attaches to your profile. After each deposit, confirm which providers count 100% toward wagering and whether table games count 0–20%. Set a time cap and review spin expiry like 3 days.