The “China Miracle”: Thinking on Economic Theory Innovation

Bin Xia
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Bin Xia: Counselors Office of The State Council of The People’s Republic of China, Beijing, China2National Economics Foundation, Beijing, China

Journal of International Commerce, Economics and Policy (JICEP), 2019, vol. 10, issue 03, 1-16

Abstract: Starting with explaining the differences between theory and experience, based on various schools of economic theories, this paper sorts out and evaluates different views of Chinese Economists’ theoretical summaries of the “economic miracle” for 40 years since reform and opening-up, and then analyses four fundamental reasons behind the divergence among the economists. The paper expresses the understanding of Chinese Economics, the School of Chinese Economics and the Socialist Political Economy with Chinese Characteristics and puts forward several issues for further improvement on innovations of economic theory.

Keywords: Theory and experience; mainstream and non-mainstream theory; synthesis of various schools of economics; the process of getting rich for major economies (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1142/S1793993319500145

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