Search results
1 – 10 of 966The construction of a modern economic system is a symbolic and strategic choice for large developing economies on the path toward high-quality economic development. The paper aims…
Abstract
Purpose
The construction of a modern economic system is a symbolic and strategic choice for large developing economies on the path toward high-quality economic development. The paper aims to discuss this issue.
Design/methodology/approach
The overall framework aims to adhere to “One Policy and One Mainline” to build an innovation-driven, synergistic industrial system and a “with three-qualities” economic system (with efficient market mechanisms, energetic micro-agents and appropriate macroeconomic regulation).
Findings
The strengthening of the real economy and construction of a modern industrial system constitute the material basis for supporting this system and framework. As major decision making and theoretical innovation in empirical practice, building a modern economic system can also contribute substantially toward developing the applied economic theory of socialism with Chinese characteristics.
Originality/value
Building a modern economic system in China necessitates, without exception, the construction of various subsystems encompassing industrial, market, distribution, regional development, green development, open and economic institutional aspects.
Details
Keywords
During the process of reform and opening-up, the structural transformations of the Chinese economy have two significant leaps forward and demonstrate a process of “rural…
Abstract
Purpose
During the process of reform and opening-up, the structural transformations of the Chinese economy have two significant leaps forward and demonstrate a process of “rural area–industrialization (urban industry and rural industry)–urbanization” development powered by the main engine of economic growth.
Design/methodology/approach
These two leaps forward resulted in transitions of economic structure in China. In the author’s view, structural transformations are closely related to China's economic reforms and can be divided into clear phases.
Findings
The structural transformations have two significant leaps forward and demonstrate a process of “rural area–industry (urban industry and rural industry)–urban area development” powered by the main engine of economic growth.
Originality/value
This paper reviews and summarizes the development and structural transformations in China’s economy over the last 40 years. The author believes that China’s economic miracle is accompanied by dramatic changes in its economic structure, which is particularly characterized by the ongoing process of transition from a traditional agricultural economy into a country with high industrial output, from industrialization into urbanization and from a planned economy into a market economy.
Details
Keywords
As the crystallization of Chinese wisdom and the shared wealth of all humanity, the Socialist Political Economy with Chinese Characteristics (SPECC) not only reveals the specific…
Abstract
Purpose
As the crystallization of Chinese wisdom and the shared wealth of all humanity, the Socialist Political Economy with Chinese Characteristics (SPECC) not only reveals the specific traits of SPECC but also indicates the general rules of the global economic development, showing both nationality and internationality. The paper aims to discuss this issue.
Design/methodology/approach
Being aware of the nationality of the SPECC is of great importance. It requires to integrate the basic Marxist principles with the realities of China, and meanwhile draw lessons from, not just simply copy, the strengths of other countries. The authors must adhere to the basic principles of the SPECC.
Findings
From the perspective of past practices, the SPECC has not only provided theoretical guidance for China’s reform and development, but has also given references to some countries, especially developing countries under reform and transition.
Originality/value
SPECC should be based on China’s conditions and practices, absorb China’s traditional cultural essences, draw lessons from other nations’ positive theoretical and practical results, propose theoretical viewpoints independently and initially, and construct a distinct academic system and discourse system. In this way, China would work to develop the characteristics and advantages of the SPECC, and contribute Chinese wisdom to the development and improvement of world economics and economics theories.
Details
Keywords
The shared development concept is crucial for the construction of a socialist political economy with Chinese characteristics. The paper aims to discuss this issue.
Abstract
Purpose
The shared development concept is crucial for the construction of a socialist political economy with Chinese characteristics. The paper aims to discuss this issue.
Design/methodology/approach
This is because shared development constitutes the logic thread of the socialist political economy with Chinese characteristics and the core for the formation and development of its whole system.
Findings
China’s modernization is well underway and is following a unique path with its own characteristics, whereby shared development is undoubtedly one of its core values.
Originality/value
In the new era, the development path under the concept of shared development of socialism with Chinese characteristics must adhere to the all-round development of human beings, promote social equity and justice via development, and embrace inclusive growth, specifically, pro-poor growth.
Details
Keywords
In the past 70 years since the founding of the People’s Republic of China, China’s economic studies have been constantly centered on major issues such as national modernization…
Abstract
Purpose
In the past 70 years since the founding of the People’s Republic of China, China’s economic studies have been constantly centered on major issues such as national modernization, social economic development and the establishment, reform and improvement of socialist economic system. The paper aims to discuss this issue.
Design/methodology/approach
It has experienced a process of transition from the establishment of traditional Soviet’s paradigm of political economics to that of modern economics, during which drastic changes have been observed in various aspects of China’s economics, including research content, scope and methods.
Findings
Based on that, a discipline system of economics in line with international economics has been initially established. Currently, under the guidance of Marxism, scholars in China’s economics actively draw on the beneficial knowledge system and analytical methods from modern economics, emancipate their minds, seek truth from facts and constantly fortify confidence in the socialist path, theory, system and culture, continuously enhance the discourse power of China’s economics in global economic governance system, so as to push forward to the building of a theoretical system of socialist economics with Chinese Characteristics in the new era.
Originality/value
Economics is a discipline that studies resource allocation and human’s behavior of making a choice based on rationality. Emerged in the industrial revolution and developed in the exploration of a large-scale socialized mode of production and resource allocation system, this discipline has gradually become a broadly explanatory force in social sciences which profoundly affects the economic decision-making behaviors of the government and various economic entities.
Details