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Currently, China’s economy is in the critical phase of transforming economic development patterns and replacing old growth drivers with new ones. Whether it can successfully overcome the “middle-income trap” has become a significant issue attracting wide attention.

Driven by underlying digital technologies such as artificial intelligence, blockchain, cloud computing and big data, the fourth industrial revolution featuring the booming digital economy has provided significant opportunities for China’s economy to “overtake” and overcome the “middle-income trap”. The transformation of economic development pattern, the optimization of industrial structure, and the change of growth drivers, brought by the deep integration of digital and real economies are the keys to leaping over the “middle-income trap”.

From the supply side, the digital economy can improve the quality and efficiency of the supply side and promote the supply-side structural reform and economic growth from the following three aspects: First, promote the quality, efficiency and diversification of the supply system; second, promote networking, opening-up and synergy in the innovation system and third, promote the socialization, modularization and flexibility of production pattern. From the demand side, the digital economy can boost the new drivers of the “troika” of economic growth consisting of consumption, exports and investment by changing the market investment direction, promoting consumption upgrade and fostering export strengths. However, once these two attributes interact with each other, especially when data is combined with capital, the most adhesive factor in the market economy, a series of new social relations will then be produced based on the technical attribute, resulting in significant adjustments in social relations, involving both positive and negative externalities.

To overcome the “middle-income trap”, it is necessary to adapt to the laws of economic evolution and promote a fundamental change in economic growth drivers; boost the high-quality development of the digital economy by strengthening the support role of data in the digital economy; and accelerate digital industrialization and industrial digitalization to realize the integration of digital and real economies.

This study aims to investigate whether Bangladesh would avoid the middle-income trap (MIT) in its transition to a high-income country (HIC) according to its “Vision 2041”.

Using both actual and forecasted secondary data, three MIT models of different approaches were used to evaluate the government’s vision-based projections. Moreover, crucial indicators of deindustrialization and institutional strength were linked to the investigation of potential transitions.

According to the absolute definition and international forecasts, the Bangladesh economy might not fall into an MIT at its lower-middle-income level within the intended period due to being shorter than the defined limit. However, its real GDP per capita relative to the USA would remain far below the defined threshold limit of an upper-middle-income country (UMC) in 2041. Meanwhile, Bangladesh has reached the third of the five gradual phases and is awaiting a new transition in 2029. However, its vision-based plan would face challenges such as skills gaps, institutional reforms and successive global crises.

Bangladesh might be trapped in MIT at the UMC level in the 2030s, with no path to renovate after the demographic dividend ends in 2047. In this regard, the government must demonstrate a strong political will to ensure the effectiveness of its policies and the viability of its institutions.

This study not only compared projections to forecasts using different MIT models but also connected transition phases to industrial policies and institutional strengths.

The purpose of this paper is to promote the theoretical innovation of socialist economics with Chinese characteristics in these areas.

We must “excavate new materials, discover new problems, propose new ideas, and construct new theories from the practice of China’s reform and development.”

Giving full play to the government’s role in realizing optimal allocation of resources required for the public economy to better exert its control, influence and guidance, and at least assume the following three responsibilities. The first is to iron out the economic cycle. The second is to lead the industry to upgrade. The third is to ensure national economic security.

Some deep-rooted issues still need to be further studied in order to establish the scientific and practical nature of the socialist economics with Chinese characteristics. For instance, why is the theory of a socialist economy with Chinese characteristics summarized from the development practice in China a scientific theory?

The socialist construction with Chinese characteristics must be based on history and reality. According to the requirements of liberation and development of productivity, efforts must be made to reform and improve the production relations, as well as continually consolidate the socialist system with Chinese characteristics. The purpose of this paper is to prove the necessity and superiority of a socialist system through China’s modernization achievements.

Marxist political economics is a critical legacy from classical economics. Its core question is also social production and distribution, which is epitomized in the labor theory of value and the theory of surplus value.

Regarding the significant principles that must be followed, these speeches summarized the logical system and prominent features of the socialist political system in the new normal from several significant and interrelated aspects such as basic methods, core propositions, main tasks and fundamental goals.

The socialist system with Chinese characteristics will gradually appear through further research and prove its superiority. How can a socialist system with Chinese characteristics innovate and develop? Does the system have a future? Is there any historical necessity for the socialist system to replace the capitalist system in human history? These are the questions that need urgent answers and in-depth exploration.

At present, the Chinese economy has entered the “new normal” phase with the transformation of development stages from the low-income to the middle-income ones. Accordingly, there appear a series of innovations in development theories. Innovations involve creative destructions. Therefore, innovative development theories at the present stage either deny the prevailing principles of development economics, or deny the theories that once effectively guided development at the low-income stage, or even sublate some of the development polices which were propelled and proved effective at the beginning of the reform and opening-up. The fundamental reason is that, as the development stages evolve, there occur new development tasks, new periodical characteristics and new laws of development. The paper aims to discuss these issues.

Any development theory from abroad will find it difficult to correctly guide and clarify development problems in a socialist country, such as the huge population and the extreme imbalance between the urban and the rural and among regional developments.

In conclusion, China, as a large world economy, has made innovations in its economic development theory, which indicates that it intends to perfect itself rather than seek hegemony. As the world’s second largest economy, China should adapt to the transformation and further free people’s minds instead of adhering to the old patterns of thinking. It should think over the path of development for a great world economy from the historical starting point of a large world economy and find development strategies to transform itself from a large economy to a great economy, so as to realize the dream of the Chinese nation to build a powerful country.

Only political economy studies both the relations of production and the productive forces, and only a theory combining both can correctly guide China’s economic development, which especially needs to be promoted by taking advantage of socialist economic system. Therefore, the first and foremost principle for a socialist political economy with Chinese characteristics is to insist on liberating and developing productive forces.

The purpose of this paper is to develop an effective process to market high-rise luxury condominiums in a middle-income country in Asia like Sri Lanka, based on empirical evidence.

The case research methodology used to address the four research issues used multiple sources of data. In stage 1, qualitative data were collected in interviews with managers and salespersons of six condominium developments that ranged from successful to failure. In stage 2, quantitative data were collected in a survey of the buyers of the six cases.

The authors contributions to knowledge include the first evidence-based findings about what influences the success and failure of high-rise luxury condominium developments in a country like Sri Lanka. In addition, a comprehensive marketing model of an effective marketing process is developed for forward-thinking professionals in the field to use to successfully market their luxury high-rise condominiums projects in the future.

Detailed steps for successful marketing are outlined, from the Board of Management down to salespersons.

This is the first academic research paper to examine the effective marketing of high-rise luxury condominiums in a middle-income country like Sri Lanka.

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.

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.

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.

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.

In the following, the region of Southeast Asia will be introduced by offering an overview of the recent developments regarding demographic transition, socioeconomic change, social inequality and the diversification of migration patterns. We will sketch out, how young people fare in the face of these conditions, especially with regard to their own or their families' mobilities. Finally, the four contributions of this section, each reflecting a specific context of Southeast Asia's transnational societies and the related intergenerational dynamics, will be introduced.

The socialist political economy with Chinese characteristics is the scientific fruit of Xi Jinping thought on socialist economy with Chinese characteristics for a new era. People-centred philosophy is the core values of the Communist Party of China (CPC) Central Committee's governance of China with Xi Jinping as the core and has become the core values of the socialist political economy with Chinese characteristics. According to Xi Jinping thought on socialist economy with Chinese characteristics, it represents the interests of all people and determines the disciplinary attribute of the socialist political economy with Chinese characteristics, that is, people-centred economics. Xi Jinping has defined the essence of the socialism as eliminating poverty, improving people's livelihood and gradually realising common prosperity. That determines the main line of socialist political economy with Chinese characteristics is to liberate, develop and protect the productive forces and achieve common prosperity. This study aims to discuss the aforementioned statements.

Xi Jinping's scientific judgement on the new stage of development and the principal contradiction facing Chinese society has put forward the requirement of problem orientation for the study of socialist political economy with Chinese characteristics, involving the main contradiction facing Chinese society, high-quality development and modernisation. China's socialist basic economic system consists of a socialist market economy in which public ownership plays the leading role alongside other forms of ownership and distribution according to work is the mainstay, while other forms of distribution coexist alongside it. And this socialist basic economic system, marked out from three dimensions—production, distribution and exchange analysis, is the key of analysis of systems in the socialist political economy with Chinese characteristics. The economic operation analysis in political economy mainly involves resource allocation and the government's macroeconomic regulation and control.

The new thought and new practices about the role of the market and the government in the new era have opened up a new realm for the economic operation analysis in the socialist political economy with Chinese characteristics. The new development philosophy and new development paradigm define the content of the economic development theory in the socialist political economy with Chinese characteristics. The new development paradigm reflects the dual circulation theory of social reproduction.

The socialist political economy with Chinese characteristics is to study laws of economics in various aspects from economic system, economic operation, economic development to foreign economy and provide the basic principles of socialist political economy with Chinese characteristics. Its mainstream economic position will be consolidated continuously.

This paper aims to examine the impacts of corporate entrepreneurship, national policies and supply chain collaboration on the innovativeness of manufacturers of light emitting diode (LED) in Malaysia.

The data were collected by using questionnaire survey from the manufacturers involved in the various echelon of the supply chain. The data collected were analyzed by using partial least square (PLS).

Corporate entrepreneurship plays a moderating role in the relationship between national policies, supply chain collaboration and innovativeness.

This study is only focusing on the supply chain of LED in Malaysia; hence, the results may not be suitable to be generalized to wider populations.

The findings of this study could help the local companies to understand on how, as entrepreneurs, they could expand from small scale to contract manufacturers through enhancing innovativeness. This is important as failure to do so may cause them to be excluded from the global supply chain.

This study expands the existing literature by providing empirical evidence from the perspective of an emerging country, namely, Malaysia. It also attempts to close the gaps by examining the role of corporate entrepreneurship as the moderating variable.