Pub Date : 2022-11-22DOI: 10.1108/cpe-11-2022-0018
Xiaoqin Ding, Zhihong Luo
PurposeSince the outbreak of COVID-19, tremendous changes have taken place in the US economy – the economic growth in the whole year of 2020 was negative, and though it enjoyed a significant rebound for the first half of 2021, the growth rate began to decline rapidly by the third quarter, and inflation suddenly rises rapidly, which after came the all-time highs of the “misery index” consisted of the inflation rate and unemployment rate. All signs indicate that the US economy will likely enter a “stagflation” crisis.Design/methodology/approachThis paper analyzes the institutional and social contradictions in the United States during the neoliberal era from the perspectives of domestic social structure of accumulation (SSA) and international SSA based on the SSA theory.FindingsThe current risk of stagflation in the US economy is a concentrated outbreak of the long-term accumulated contradictions in neoliberal SSA under the impact of the epidemic, which is the product of the irreconcilable contradictions inherent in the capitalist mode of production.Originality/valueBased on this analysis, the paper points out that with the deepening of the crisis, the neoliberal SSA is likely to end and a new SSA will be established gradually.
{"title":"The crisis of US neoliberalism and the risk of current economic stagflation","authors":"Xiaoqin Ding, Zhihong Luo","doi":"10.1108/cpe-11-2022-0018","DOIUrl":"https://doi.org/10.1108/cpe-11-2022-0018","url":null,"abstract":"PurposeSince the outbreak of COVID-19, tremendous changes have taken place in the US economy – the economic growth in the whole year of 2020 was negative, and though it enjoyed a significant rebound for the first half of 2021, the growth rate began to decline rapidly by the third quarter, and inflation suddenly rises rapidly, which after came the all-time highs of the “misery index” consisted of the inflation rate and unemployment rate. All signs indicate that the US economy will likely enter a “stagflation” crisis.Design/methodology/approachThis paper analyzes the institutional and social contradictions in the United States during the neoliberal era from the perspectives of domestic social structure of accumulation (SSA) and international SSA based on the SSA theory.FindingsThe current risk of stagflation in the US economy is a concentrated outbreak of the long-term accumulated contradictions in neoliberal SSA under the impact of the epidemic, which is the product of the irreconcilable contradictions inherent in the capitalist mode of production.Originality/valueBased on this analysis, the paper points out that with the deepening of the crisis, the neoliberal SSA is likely to end and a new SSA will be established gradually.","PeriodicalId":250696,"journal":{"name":"China Political Economy","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134372090","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-22DOI: 10.1108/cpe-11-2022-0019
Yongqing Wang, Xin Gao
PurposeThis paper studies the political economy of the endogenous urban–rural divide in two dimensions: labor market and provision of public goods.Design/methodology/approachThis paper gives a dual-sector model endogenously depending on the consumption of public goods (club goods), the number of rural–urban migrants and the tax rate (transfer payments).FindingsAccording to the research findings in this paper, the constraints on the participation of rural residents portray the rural residents' bargaining power, and in the game between the urban elites and the rural residents, tax rates depend on the preferences of the urban elites and the constraints urban elites and the rural residents jointly face. Therefore, the urban elites have to set tax rates deviating from the most preferred ones. The model in this paper can explain a series of empirical findings and yield new theoretical findings for empirical testing.Originality/valueSignificantly, the paper finds that the increase in agricultural productivity will lead to industrialization, accompanied by the disintegration of the dual-sector model. However, though the increase in industrial productivity can accelerate industrialization, it will further expand the urban–rural divide.
{"title":"The political economy of endogenous dual-sector model: public goods, labor markets and tax rates","authors":"Yongqing Wang, Xin Gao","doi":"10.1108/cpe-11-2022-0019","DOIUrl":"https://doi.org/10.1108/cpe-11-2022-0019","url":null,"abstract":"PurposeThis paper studies the political economy of the endogenous urban–rural divide in two dimensions: labor market and provision of public goods.Design/methodology/approachThis paper gives a dual-sector model endogenously depending on the consumption of public goods (club goods), the number of rural–urban migrants and the tax rate (transfer payments).FindingsAccording to the research findings in this paper, the constraints on the participation of rural residents portray the rural residents' bargaining power, and in the game between the urban elites and the rural residents, tax rates depend on the preferences of the urban elites and the constraints urban elites and the rural residents jointly face. Therefore, the urban elites have to set tax rates deviating from the most preferred ones. The model in this paper can explain a series of empirical findings and yield new theoretical findings for empirical testing.Originality/valueSignificantly, the paper finds that the increase in agricultural productivity will lead to industrialization, accompanied by the disintegration of the dual-sector model. However, though the increase in industrial productivity can accelerate industrialization, it will further expand the urban–rural divide.","PeriodicalId":250696,"journal":{"name":"China Political Economy","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125926606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-18DOI: 10.1108/cpe-09-2022-0009
Xingmiao Guan, Xingfang Qin
PurposeData has become a factor of production. This occurs when history enters the era of big data, in which technologies such as artificial intelligence, cloud computing and blockchain are used to collect, manipulate, mine and process data. Data is a special product of labor, a sub-derivative of other production factors.Design/methodology/approachThe data factor has a dual attribute: being physical (technical) and social. The social attribute of the data factor can not only materialize the technical attribute but also amplify it. In other words, the data has a multiplication effect on the allocation efficiency of other production factors. The social attribute of the data is brought out via the technical attribute as the medium. From a technical perspective, this medium is strongly adhesive, and after being bonded with other factors of production, it will only lead to a physical reaction and not change the nature of other factors.FindingsHowever, once these two attributes interact with each other, especially when data is combined with capital, the most adhesive factor in the market economy, a series of new social relations will then be produced based on the technical attribute, resulting in significant adjustments in social relations, involving both positive and negative externalities.Originality/valueTherefore, to get a scientific understanding of the dual attribute and its interaction effects on the data factor, it is necessary to take the following steps. We should promote institutional design that amplifies the positive externality, with a focus on facilitating public data sharing and improving the value of commercial data development. Also, we need to strengthen institutional arrangements that prevent and control the negative externality by emphasizing data supervision based on data types and levels as well as the rule of law.
{"title":"The data factor's dual attribute and its interaction effects","authors":"Xingmiao Guan, Xingfang Qin","doi":"10.1108/cpe-09-2022-0009","DOIUrl":"https://doi.org/10.1108/cpe-09-2022-0009","url":null,"abstract":"PurposeData has become a factor of production. This occurs when history enters the era of big data, in which technologies such as artificial intelligence, cloud computing and blockchain are used to collect, manipulate, mine and process data. Data is a special product of labor, a sub-derivative of other production factors.Design/methodology/approachThe data factor has a dual attribute: being physical (technical) and social. The social attribute of the data factor can not only materialize the technical attribute but also amplify it. In other words, the data has a multiplication effect on the allocation efficiency of other production factors. The social attribute of the data is brought out via the technical attribute as the medium. From a technical perspective, this medium is strongly adhesive, and after being bonded with other factors of production, it will only lead to a physical reaction and not change the nature of other factors.FindingsHowever, once these two attributes interact with each other, especially when data is combined with capital, the most adhesive factor in the market economy, a series of new social relations will then be produced based on the technical attribute, resulting in significant adjustments in social relations, involving both positive and negative externalities.Originality/valueTherefore, to get a scientific understanding of the dual attribute and its interaction effects on the data factor, it is necessary to take the following steps. We should promote institutional design that amplifies the positive externality, with a focus on facilitating public data sharing and improving the value of commercial data development. Also, we need to strengthen institutional arrangements that prevent and control the negative externality by emphasizing data supervision based on data types and levels as well as the rule of law.","PeriodicalId":250696,"journal":{"name":"China Political Economy","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117132615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-17DOI: 10.1108/cpe-09-2022-0012
Yudong Qi, Xi Chu
PurposeCurrently, China’s economy is in the critical phase of transforming economic development patterns and replacing old growth drivers with new ones. Whether it can successfully overcome the “middle-income trap” has become a significant issue attracting wide attention.Design/methodology/approachDriven by underlying digital technologies such as artificial intelligence, blockchain, cloud computing and big data, the fourth industrial revolution featuring the booming digital economy has provided significant opportunities for China’s economy to “overtake” and overcome the “middle-income trap”. The transformation of economic development pattern, the optimization of industrial structure, and the change of growth drivers, brought by the deep integration of digital and real economies are the keys to leaping over the “middle-income trap”.FindingsFrom the supply side, the digital economy can improve the quality and efficiency of the supply side and promote the supply-side structural reform and economic growth from the following three aspects: First, promote the quality, efficiency and diversification of the supply system; second, promote networking, opening-up and synergy in the innovation system and third, promote the socialization, modularization and flexibility of production pattern. From the demand side, the digital economy can boost the new drivers of the “troika” of economic growth consisting of consumption, exports and investment by changing the market investment direction, promoting consumption upgrade and fostering export strengths. However, once these two attributes interact with each other, especially when data is combined with capital, the most adhesive factor in the market economy, a series of new social relations will then be produced based on the technical attribute, resulting in significant adjustments in social relations, involving both positive and negative externalities.Originality/valueTo overcome the “middle-income trap”, it is necessary to adapt to the laws of economic evolution and promote a fundamental change in economic growth drivers; boost the high-quality development of the digital economy by strengthening the support role of data in the digital economy; and accelerate digital industrialization and industrial digitalization to realize the integration of digital and real economies.
{"title":"Development of the digital economy, transformation of the economic structure and leaping of the middle-income trap","authors":"Yudong Qi, Xi Chu","doi":"10.1108/cpe-09-2022-0012","DOIUrl":"https://doi.org/10.1108/cpe-09-2022-0012","url":null,"abstract":"PurposeCurrently, China’s economy is in the critical phase of transforming economic development patterns and replacing old growth drivers with new ones. Whether it can successfully overcome the “middle-income trap” has become a significant issue attracting wide attention.Design/methodology/approachDriven by underlying digital technologies such as artificial intelligence, blockchain, cloud computing and big data, the fourth industrial revolution featuring the booming digital economy has provided significant opportunities for China’s economy to “overtake” and overcome the “middle-income trap”. The transformation of economic development pattern, the optimization of industrial structure, and the change of growth drivers, brought by the deep integration of digital and real economies are the keys to leaping over the “middle-income trap”.FindingsFrom the supply side, the digital economy can improve the quality and efficiency of the supply side and promote the supply-side structural reform and economic growth from the following three aspects: First, promote the quality, efficiency and diversification of the supply system; second, promote networking, opening-up and synergy in the innovation system and third, promote the socialization, modularization and flexibility of production pattern. From the demand side, the digital economy can boost the new drivers of the “troika” of economic growth consisting of consumption, exports and investment by changing the market investment direction, promoting consumption upgrade and fostering export strengths. However, once these two attributes interact with each other, especially when data is combined with capital, the most adhesive factor in the market economy, a series of new social relations will then be produced based on the technical attribute, resulting in significant adjustments in social relations, involving both positive and negative externalities.Originality/valueTo overcome the “middle-income trap”, it is necessary to adapt to the laws of economic evolution and promote a fundamental change in economic growth drivers; boost the high-quality development of the digital economy by strengthening the support role of data in the digital economy; and accelerate digital industrialization and industrial digitalization to realize the integration of digital and real economies.","PeriodicalId":250696,"journal":{"name":"China Political Economy","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114567108","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-17DOI: 10.1108/cpe-09-2022-0010
Nan Li, Wei Chen
PurposeThe purpose of this paper is further leveraging the advantages of the basic socialist economic system and exploring the realistic way of transforming the advantages of the socialist economic system with Chinese characteristics into governance efficacy. At its Fourth Plenary Session, the 19th Central Committee of the Communist Party of China (CPC) elevated the socialist market economy system to China's basic economic system, further affirming the significant advantages embedded in the socialist market economy from an institutional perspective.Design/methodology/approachThe essence of the basic socialist economic system consists of the ownership structure with public ownership as the mainstay, the income distribution system with distribution according to work as the mainstay and the socialist market economy, which are interrelated, supportive and reinforcing mutually, forming an organic whole.FindingsOver the past 40 years of reform and opening-up, it has been proven through practice that the basic socialist economic system has played a fundamental role in guaranteeing rapid economic development and social stability. The system not only corresponds to the development level of the productive forces in the primary stage of socialism in China but also demonstrates its strengths in eliminating polarization between the poor and the rich and achieving common prosperity.Originality/valueIt is necessary to make the basic economic system more coordinated and consistent and be committed to the philosophy that the whole is greater than the sum of its parts to form a systemic synergy, so as to achieve synergistic enhancement of institutional advantages and governance efficacy.
{"title":"Three dimensions of transforming the advantages of the basic socialist economic system into governance efficacy","authors":"Nan Li, Wei Chen","doi":"10.1108/cpe-09-2022-0010","DOIUrl":"https://doi.org/10.1108/cpe-09-2022-0010","url":null,"abstract":"PurposeThe purpose of this paper is further leveraging the advantages of the basic socialist economic system and exploring the realistic way of transforming the advantages of the socialist economic system with Chinese characteristics into governance efficacy. At its Fourth Plenary Session, the 19th Central Committee of the Communist Party of China (CPC) elevated the socialist market economy system to China's basic economic system, further affirming the significant advantages embedded in the socialist market economy from an institutional perspective.Design/methodology/approachThe essence of the basic socialist economic system consists of the ownership structure with public ownership as the mainstay, the income distribution system with distribution according to work as the mainstay and the socialist market economy, which are interrelated, supportive and reinforcing mutually, forming an organic whole.FindingsOver the past 40 years of reform and opening-up, it has been proven through practice that the basic socialist economic system has played a fundamental role in guaranteeing rapid economic development and social stability. The system not only corresponds to the development level of the productive forces in the primary stage of socialism in China but also demonstrates its strengths in eliminating polarization between the poor and the rich and achieving common prosperity.Originality/valueIt is necessary to make the basic economic system more coordinated and consistent and be committed to the philosophy that the whole is greater than the sum of its parts to form a systemic synergy, so as to achieve synergistic enhancement of institutional advantages and governance efficacy.","PeriodicalId":250696,"journal":{"name":"China Political Economy","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121385187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-16DOI: 10.1108/cpe-09-2022-0011
Qingqing Zong, Yi Zhang, Yuyu Chen
PurposeThis paper theoretically and empirically analyzes the effects of the elderly’s physical health status on their need for care and the choice of care models in China.Design/methodology/approachEmpirically, the estimation results of a large-sample randomized intervention trial with chronic obstructive pulmonary disease (COPD) patients through the difference-in-difference method indicated the following: (1) After the COPD intervention trial, the physical health status of the elderly in the treatment group improved significantly, the need for care was substantially reduced and the health improvement led to a 35.5% reduction in the probability of using elderly care. (2) The reduction in the need for care regarding the treatment group occurred mainly in social care. The probability of using social care decreased by 67.8% due to the elderly’s health improvement, while that of home care remained unchanged generally. (3) Further heterogeneity tests suggested that families with fewer potential internal resources for caregiving had a more pronounced decline in the need for social care.FindingsTheoretically, these empirical results support the existence of the “pecking order” theory in the family’s choice of elderly care model, that is, families tend to employ all internal resources for caregiving before resorting to social care, resulting in a higher sensitivity of social care to health.Originality/valueThe main policy implication of this paper is that ex ante preventive health intervention policies can significantly alleviate the burden of care, especially social care, on families. And preventive health intervention policies are particularly effective in reducing the burden of the families with relatively few resources for informal internal care.
{"title":"Health status and elderly care: theory and evidence from a randomized trial with COPD patients in China","authors":"Qingqing Zong, Yi Zhang, Yuyu Chen","doi":"10.1108/cpe-09-2022-0011","DOIUrl":"https://doi.org/10.1108/cpe-09-2022-0011","url":null,"abstract":"PurposeThis paper theoretically and empirically analyzes the effects of the elderly’s physical health status on their need for care and the choice of care models in China.Design/methodology/approachEmpirically, the estimation results of a large-sample randomized intervention trial with chronic obstructive pulmonary disease (COPD) patients through the difference-in-difference method indicated the following: (1) After the COPD intervention trial, the physical health status of the elderly in the treatment group improved significantly, the need for care was substantially reduced and the health improvement led to a 35.5% reduction in the probability of using elderly care. (2) The reduction in the need for care regarding the treatment group occurred mainly in social care. The probability of using social care decreased by 67.8% due to the elderly’s health improvement, while that of home care remained unchanged generally. (3) Further heterogeneity tests suggested that families with fewer potential internal resources for caregiving had a more pronounced decline in the need for social care.FindingsTheoretically, these empirical results support the existence of the “pecking order” theory in the family’s choice of elderly care model, that is, families tend to employ all internal resources for caregiving before resorting to social care, resulting in a higher sensitivity of social care to health.Originality/valueThe main policy implication of this paper is that ex ante preventive health intervention policies can significantly alleviate the burden of care, especially social care, on families. And preventive health intervention policies are particularly effective in reducing the burden of the families with relatively few resources for informal internal care.","PeriodicalId":250696,"journal":{"name":"China Political Economy","volume":"197 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123895805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-03DOI: 10.1108/cpe-09-2022-0013
Jiang Lu, Chen Zhang
PurposeSome 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.
{"title":"On the theoretical source of the reform of socialist open economy with Chinese characteristics","authors":"Jiang Lu, Chen Zhang","doi":"10.1108/cpe-09-2022-0013","DOIUrl":"https://doi.org/10.1108/cpe-09-2022-0013","url":null,"abstract":"PurposeSome 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.","PeriodicalId":250696,"journal":{"name":"China Political Economy","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124326140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-03DOI: 10.1108/cpe-10-2022-0016
Wenlong Han
PurposeTo realise the shared development of the digital economy, people need to transcend the capital logic and advocate the logic of cooperative development, i.e. “co-construction, benefit-sharing and co-governance”. This study aims to discuss the aforementioned statement.Design/methodology/approachPlatform economy is a new economic form produced by the transformation of the social production patterns in the era of digital capitalism. In the neo-imperialist stage, a new stage of capitalist development, capital logic promotes the global expansion of the platform economy and influences its development process, organisational form, contradictions and dilemmas and internal transcendence. Having the spatiotemporal chain of capital circulation repaired, the globalisation of the platform economy is reshaping how the means of production are combined with labour, affecting the local changes in the general relations of production and “international relations of production”.FindingsIn the accumulation of digital capitalism, the social contradictions and fundamental contradictions in the capitalist world have been further intensified, making exploitation, income distribution gap, monopoly and other problems increasingly severe. The imbalance and inequality in the global development of the digital economy are increasingly prominent.Originality/valueRegarding the global governance of the digital economy, China, as a major responsible country, will strive to encourage all countries to co-build a community with a shared future in cyberspace. In the new international development pattern of digital economy globalisation, China must take effective measures to actively safeguard its national security and development interests to meet specific challenges.
{"title":"The capital logic of platform economy globalisation and it’s critique and transcendence","authors":"Wenlong Han","doi":"10.1108/cpe-10-2022-0016","DOIUrl":"https://doi.org/10.1108/cpe-10-2022-0016","url":null,"abstract":"PurposeTo realise the shared development of the digital economy, people need to transcend the capital logic and advocate the logic of cooperative development, i.e. “co-construction, benefit-sharing and co-governance”. This study aims to discuss the aforementioned statement.Design/methodology/approachPlatform economy is a new economic form produced by the transformation of the social production patterns in the era of digital capitalism. In the neo-imperialist stage, a new stage of capitalist development, capital logic promotes the global expansion of the platform economy and influences its development process, organisational form, contradictions and dilemmas and internal transcendence. Having the spatiotemporal chain of capital circulation repaired, the globalisation of the platform economy is reshaping how the means of production are combined with labour, affecting the local changes in the general relations of production and “international relations of production”.FindingsIn the accumulation of digital capitalism, the social contradictions and fundamental contradictions in the capitalist world have been further intensified, making exploitation, income distribution gap, monopoly and other problems increasingly severe. The imbalance and inequality in the global development of the digital economy are increasingly prominent.Originality/valueRegarding the global governance of the digital economy, China, as a major responsible country, will strive to encourage all countries to co-build a community with a shared future in cyberspace. In the new international development pattern of digital economy globalisation, China must take effective measures to actively safeguard its national security and development interests to meet specific challenges.","PeriodicalId":250696,"journal":{"name":"China Political Economy","volume":"114 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132764452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-03DOI: 10.1108/cpe-10-2022-0015
Kaicheng Gai, Yongsheng Zhou
PurposeAs an essential part of mainstream Western development economics, the trickle-down theory originates from the behavioral choices and iterations of thought on conflicts of interest in the evolution of remuneration structure in Western countries. The fundamental flaw of the logic of this theory is that it conceals the inherent implication of social systems and the essential characteristics of social structures.Design/methodology/approachThis paper examines the relationships among economic growth, income distribution and poverty from the perspective of social relations of production – the nature of production relations determines the nature of distribution relations and further determines the essence of trickle-down development, and ownership is the core mechanism for realizing the trickle-down effect.FindingsThe stagnation or smoothness of the trickle-down effect in different economies is essentially subject to the logic of “development for whom”, which is determined by ownership relationship.Originality/valueTo be more specific, “development for capitalists” and “development for the people” indicate two distinctly different economic growth paths. The former starts with private ownership and follows a bottom-up negative trickle-down path that inevitably leads to polarization, while the latter starts with public ownership and follows a top-down positive trickle-down path that will lead to common prosperity in the end.
{"title":"Ownership, trickle-down effect and shared development: a political economy analysis","authors":"Kaicheng Gai, Yongsheng Zhou","doi":"10.1108/cpe-10-2022-0015","DOIUrl":"https://doi.org/10.1108/cpe-10-2022-0015","url":null,"abstract":"PurposeAs an essential part of mainstream Western development economics, the trickle-down theory originates from the behavioral choices and iterations of thought on conflicts of interest in the evolution of remuneration structure in Western countries. The fundamental flaw of the logic of this theory is that it conceals the inherent implication of social systems and the essential characteristics of social structures.Design/methodology/approachThis paper examines the relationships among economic growth, income distribution and poverty from the perspective of social relations of production – the nature of production relations determines the nature of distribution relations and further determines the essence of trickle-down development, and ownership is the core mechanism for realizing the trickle-down effect.FindingsThe stagnation or smoothness of the trickle-down effect in different economies is essentially subject to the logic of “development for whom”, which is determined by ownership relationship.Originality/valueTo be more specific, “development for capitalists” and “development for the people” indicate two distinctly different economic growth paths. The former starts with private ownership and follows a bottom-up negative trickle-down path that inevitably leads to polarization, while the latter starts with public ownership and follows a top-down positive trickle-down path that will lead to common prosperity in the end.","PeriodicalId":250696,"journal":{"name":"China Political Economy","volume":"109 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132091604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-02DOI: 10.1108/cpe-09-2022-0014
Zheng Li
PurposeIn human history, poverty for most and prosperity for few is the norm. Thus, no theory or practice of common prosperity has been developed. Marxism first formulated the theory of common prosperity, and the classical Marxist authors conducted theoretical exploration on the issue of common prosperity, forming a series of scientific conclusions.Design/methodology/approachThe century-long practical history of the Communist Party of China (CPC) is the great practice of leading the Chinese people in getting rid of poverty, letting some people and regions get rich first and ultimately achieving the goal of common prosperity.FindingsCommon prosperity is the great practice of the CPC that leads all Chinese people in building a modern socialist country in an all-round way in the new era.Originality/valueThe path of common prosperity with Chinese characteristics will certainly arise in the process of the great practice of common prosperity with Chinese characteristics. Based on the anti-poverty theory and the “spirit of poverty alleviation” from the battle against poverty with Chinese characteristics, the theory of common prosperity and its spirit with Chinese characteristics will certainly be formed. The above conclusions constitute the basic principles of the theory of common prosperity with Chinese characteristics.
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