Research on the Scientific Connotation of New Development Pattern

Pei Changhong and Liu Hongkui ()
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Pei Changhong: Professor at University of Chinese Academy of Social Sciences, Research Fellow at Institute of economics, Chinese Academy of Social Sciences Beijing China
Liu Hongkui: Associate Research Fellow at Institute of economics, Chinese Academy of Social Sciences, Associate Professor at University of Chinese Academy of Social Sciences Beijing China

China Finance and Economic Review, 2021, vol. 10, issue 3, 3-24

Abstract: General Secretary Xi Jinping’s important exposition on building the new development pattern is an important theoretical viewpoint of socialist political economy with Chinese characteristics. The theory is to understand and reveal the objective law of the development of things, which requires us to use the theoretical method of economics to demonstrate the understanding and grasp of the objective law of the economy. The ideological source of the important exposition on new development pattern can only be explored in Marxist theory. Marx’s surplus value theory is based on an analysis of the economic cycle of capitalist domestic production, distribution, circulation and consumption, and reveals the general law of socialized mass production. The important exposition on the new development pattern is precisely the application, innovation and development of this scientific principle under the condition of socialist economy. Scholars should not examine, understand or explain the objective requirement of “taking the domestic market as the mainstay” from the perspective of “dependence on foreign trade”. An empirical study on the contribution of China’s three major demands to economic growth shows that the important judgment on the new development pattern not only reveals the basic characteristics of China’s economic development, but also points out its future trend. That “domestic and overseas markets reinforce each other” is not only a summary of China’s historical practice in its economic interaction with the rest of the world, but also denies the one-sided theoretical viewpoint in Western mainstream international economics, and reveals the objective law of the dynamic balance between China and the open world economy on the basis of pluralistic balance. The important exposition on the new development pattern also contains the main contents of how to implement the new development philosophy and deepen the reform inevitable in building a modern socialist country in the new development stage. It is the theoretical cornerstone of the guilding ideology of deepening reform.

Keywords: dual circulation; new development pattern; Marxism; political economics; world economic balance (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:cferev:v:10:y:2021:i:3:p:3-24:n:4

DOI: 10.1515/cfer-2021-0014

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