The concept of circular economy and the international experience of its implementation

Abstract

Currently, due to the unsustainable nature of the linear economy, the need has emerged to introduce a circular economic model, that should ensure economic growth, environmental sustainability and prosperity. The aim of the research is to characterize the concept of circular economy, generalize and evaluate the international experience, identify the contradictions of its introduction and substantiate the necessity of developing a circular economy strategy in the long run. The article analyzes the reasons why the linear economy changes with the circular one, examines the features of the circular economy and reviews the strategic directions of different countries. It is noted, that its introduction in the transition phase can be characterized by negative effect and be associated with many risk factors, but in the long run it is profitable and beneficial to the economy.