Dual Circulation and China¡¯s Development

Justin Lin ()

Frontiers of Economics in China-Selected Publications from Chinese Universities, 2021, vol. 16, issue 1, 30-34

Abstract: In 2020, China proposed a new development paradigm centered on domestic circulation with a ¡°dual circulation¡± model in which domestic circulation and international circulation promote each other. This new paradigm reflects a clear understanding of China¡¯s development trend that saw its share of exports in the GDP declining steadily since 2006. However, the new paradigm does not necessarily mean that China should change its past policy of fully utilizing domestic and international markets and resources in economic development. Because of large economies of scale in modern manufacturing sector, China should continue to make full use of international markets.

Keywords: China; dual circulation; domestic circulation; international circulation; economic development (search for similar items in EconPapers)
JEL-codes: F43 F63 O20 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:fec:journl:v:16:y:2021:i:1:p:30-34

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