The aim of this paper is to determine which country has technological superiority in the field of industry by analysing the strategic approaches to the industrial development of three leading industrial countries (Germany, China, and the US), as well as selected indicators of industrial development. The results of the research show that China has the most ambitious approach and pretension to take a leading position in a large number of high-tech industries. Since 2014, China has become the second-largest industrial power, right after Germany, while the US has been in fourth place since 2017. China leads in terms of the share of industrial products in global trade and the share of manufacturing value added in the total world gross domestic product. Since 2015, China and Germany have developed intensive cooperation in the area of hi-tech industrial production, while bilateral relations between China and the US are tight due to the trade war. While the US, as the third-largest bilateral trading partner of Germany (after China and the Netherlands), is generating a trade deficit, China is making a breakthrough towards the European market, which is in line with the strategy of taking the position of a global leader in high technology.

The Western Balkans countries have the aim to become part of the European Union. According to that aim, they have implemented economic and systemic reforms in the last three decades. As countries in the region are signatories to the Energy Community Treaty, they have committed themselves to harmonize legislation, define and implement national plans aimed at reducing carbon emissions, improving energy efficiency and increasing the use of renewable energy sources. Having in mind their commitment, the aim of this paper is to determine the progress in the process of economic development, i.e. to define the chances and limitations to implement the process of energy transition. The results of the research show that despite the started reform processes and the progress in the Human Development Index, the COVID-19 crisis slowed down the development of the region and led not only to recession and falling living standards, but also to rising unemployment. In addition, a great challenge for the region is the reduction of energy and carbon intensity because the structure of the power industry is dominated by coal-fired power plants that are outdated and inefficient. The region lacks investment and consistency in implementing ongoing reforms. The Green Agenda for the Western Balkans represents a chance for the region, because through the Instruments of Cross-Border Cooperation, it encourages investments in projects that not only enable energy transition, but also the development of other sectors of industry and agriculture.

In recent years, Serbian exports, accompanied by the inflow of foreign direct investment, have improved significantly, resulting in stronger economic growth. However, despite the positive predictions of the European Commission for further growth of exports and the increase of economic growth in Serbia, our economy is facing serious consequences caused by the COVID-19 pandemic, which is affecting the whole world. The paper aims at presenting the current macroeconomic picture of the Republic of Serbia through the analysis of import and export policy, the volume of foreign trade and their impact on economic growth. In relation to the set goals, the paper is divided into four thematic units, with conclusions and possible recommendations at the end. Special emphasis was placed on exports, its development opportunities and improving competitiveness, as well as the presentation of recommendations within the Serbia's New Growth Agenda. The subject of this paper is based on theoretical data analysis, through descriptive and comparative methods as well as the synthesis of theoretical and empirical facts. For this research the primary empirical data were collected from various relevant sources.

Just before the start of the pandemic, the public debt of the Western Balkan countries averaged over 50% of GDP, with large fluctuations between countries, which narrowed the fiscal space for resolving the consequences of the COVID-19 crisis. Despite that, although partially stable to pandemic turbulence, the needs for borrowing in the countries of the Western Balkans are growing sharply, as a result of which future interest payments are increasing in the conditions of increased public debt. It is estimated that all countries in the region will record an increase in public debt, while Montenegro will have the highest level of growth. That is why the countries of the Western Balkans need to implement successful fiscal consolidation and more prudent fiscal management at the national level, but also to pay attention to higher government borrowing and increased public investment in pandemic conditions. The aim of this paper is to analyze the movement of public debt of the countries in the region in the crisis caused by the COVID-19 pandemic, with special emphasis on the case of North Macedonia and the Republic of Serbia. The paper consists of three parts. After the introduction, the first part of the paper presents an analysis of public debt in the Western Balkans region. The second part analyzes the public debt in the case of the Republic of Serbia, while the third part deals with the analysis of the public debt in the case of North Macedonia. Finally, concluding remarks are given.