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On the theoretical source of the reform of socialist open economy with Chinese characteristics

On the theoretical source of the reform of socialist open economy with Chinese characteristics Some economic theories have influenced the reform of the socialist open economy with Chinese characteristics. As a new practice of socialism, an open economy is not only driven by China’s productivity level and people’s living standards but also regulated by the law of commodity production and value.Design/methodology/approachIt was popular to participate in economic globalization for most countries in the second half of the 20th century, but not all of them could benefit from it.FindingsThe key to the success of the open-economy reform with Chinese characteristics lies in learning from and innovating the comparative advantage theory, thus forming an organic whole of the open economy, including the core of correctly handling the relationship between the government and the market, the method of gradual reform, the breakthrough point of transforming the mode of economic development, and serving people all the time.Originality/valueAchieving internal and external coordination through the combination of opening-up and independence is a critical principle of China’s economic opening-up, which not only effectively safeguards national interests but also actively promotes the construction of a new global order. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png China Political Economy Emerald Publishing

On the theoretical source of the reform of socialist open economy with Chinese characteristics

China Political Economy , Volume 5 (2): 12 – Dec 16, 2022

On the theoretical source of the reform of socialist open economy with Chinese characteristics

China Political Economy , Volume 5 (2): 12 – Dec 16, 2022

Abstract

Some economic theories have influenced the reform of the socialist open economy with Chinese characteristics. As a new practice of socialism, an open economy is not only driven by China’s productivity level and people’s living standards but also regulated by the law of commodity production and value.Design/methodology/approachIt was popular to participate in economic globalization for most countries in the second half of the 20th century, but not all of them could benefit from it.FindingsThe key to the success of the open-economy reform with Chinese characteristics lies in learning from and innovating the comparative advantage theory, thus forming an organic whole of the open economy, including the core of correctly handling the relationship between the government and the market, the method of gradual reform, the breakthrough point of transforming the mode of economic development, and serving people all the time.Originality/valueAchieving internal and external coordination through the combination of opening-up and independence is a critical principle of China’s economic opening-up, which not only effectively safeguards national interests but also actively promotes the construction of a new global order.

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References (8)

Publisher
Emerald Publishing
Copyright
© Comparative Economic & Social Systems
ISSN
2516-1652
DOI
10.1108/cpe-09-2022-0013
Publisher site
See Article on Publisher Site

Abstract

Some economic theories have influenced the reform of the socialist open economy with Chinese characteristics. As a new practice of socialism, an open economy is not only driven by China’s productivity level and people’s living standards but also regulated by the law of commodity production and value.Design/methodology/approachIt was popular to participate in economic globalization for most countries in the second half of the 20th century, but not all of them could benefit from it.FindingsThe key to the success of the open-economy reform with Chinese characteristics lies in learning from and innovating the comparative advantage theory, thus forming an organic whole of the open economy, including the core of correctly handling the relationship between the government and the market, the method of gradual reform, the breakthrough point of transforming the mode of economic development, and serving people all the time.Originality/valueAchieving internal and external coordination through the combination of opening-up and independence is a critical principle of China’s economic opening-up, which not only effectively safeguards national interests but also actively promotes the construction of a new global order.

Journal

China Political EconomyEmerald Publishing

Published: Dec 16, 2022

Keywords: Socialist market economy with Chinese characteristics; Open economy; World system; The law of value; Comparative advantage

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