Social Sciences in China (Chinese Edition)

No.2, 2020

China’s Open Economics: Building an Economic Theory that Explains the Achievements of China’s Opening-up

(Abstract)

Pei Changhong and Liu Bin

To construct an open Chinese economic theory, the study  must be based on Chinese people’s creative practice of reform and opening up under the leadership of the CPC  and break through the limitations of western mainstream international economics. Firstly, we should disclose the logic in China’s gradual process of trade liberalization centering on “three pairs of relations and six clues.” Secondly, we should summarize the status of small enterprises as micro-actors in the application of new technologies including the internet, digital technology and artificial intelligence in the reshaping of new business forms and new foreign trade models, and draw on the experience of new advantages in international competition. Thirdly, we should analyze and cooperate to build the new-type win-win mode of division of international production over both land and sea established under the guidelines of “Belt and Road,” and the new concept of pluralistic balance in the international economy featuring a close connection between trade surplus and foreign investment. Fourthly, under the guidance of Xi Jinping’s important discourse, we should offer a rationale for global economic governance within the community of shared future for mankind.