A Choice between the Strategies of the National Economy Operating an Internally or Externally Oriented CycleâQuestions on the "Great International Cycle" Theory

Wang Zilin, Weng Xianding, Guo Yahong and Liu Jing

Chinese Economy, 1991, vol. 25, issue 1, 49-60

Abstract: Confronted with the double pressure of economic structural reform and the shift of rural manpower, Chinese economic development is faced with a grave challenge in the choice of the best way to utilize the country's resources and select a correct development strategy. The strategic concept of China joining the "great international cycle," suggested recently by Wang Jian>sup>1>/sup> was extremely enlightening. However, after much thought, we found that China does not, in fact, have the comparative advantages to join the great international cycle. If it forces itself to do so, it will have to pay a price in distorting its economic structure and in low-quality economic development.

Date: 1991
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