Political Economic Analysis of China&apos;s Economic Trends: Reasons and Solutions for Successive Declined Growth for 5 Years

Jiang Yu, null; Xinhua Jian, null

doi:10.13169/worlrevipoliecon.8.4.0450

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World Review of Political Economy

Volume 8, Issue 4

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Political Economic Analysis of China's Economic Trends: Reasons and Solutions for Successive Declined Growth for 5 Years

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Author(s): Jiang Yu , Xinhua Jian

Publication date (Print): Winter 2017

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: China's economic downturn, supply side, structural reform, supply and demand analysis, political economy analysis

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Abstract

Among the methods for analyzing China's economic trends, both demand analysis and supply analysis have advantages and disadvantages. The correct method is mainly using theories and methods of Marxist political economics analysis while drawing lessons from the reasonable theories and effective methods in Western economics. Although it has declined for five consecutive years, China's economy will not collapse, as the overall economic trend is going well and the economic growth has huge potential. The proximate causes of the economic downturn are oversupply and lack of effective supply, insufficient demand, weakness of investment, export and consumption, especially insufficient consumption demand resulted from huge income gap and low labor income. The deep-seated causes are imperfection of ownership system, distribution system, market system, economic management system, and so on. In addition to a series of important strategic policies implemented by the nation, such as the comprehensive deepening reform, expanding domestic demand, improving supply, and optimizing structures, China should also actively, steadily, and reasonably deepen the reform of the systems relevant with distribution to stabilize growth.

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Journal

Journal ID (doi): 10.13169

Journal ID (publisher-id): worlrevipoliecon

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN (Print): 2042891X

ISSN (Electronic): 20428928

Publication date (Print): Winter 2017

Volume: 8

Issue: 4

Pages: 450-479

Article

Publisher ID: worlrevipoliecon.8.4.0450

DOI: 10.13169/worlrevipoliecon.8.4.0450

SO-VID: c4d1dea2-6908-4db3-9fed-5dc0f1528d81

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History

References

Deng, X. 1993. Deng Xiaoping Anthology . [In Chinese.] 3rd ed. Beijing: People's Publishing House.
Ding, G. 2016. “Asian Effect of Decline of American Middle Class.” [In Chinese.] Global Times , January 22.
Ding, R. 2015. “Pay High Attention to the Supply-side Structural Reform.” [In Chinese.] Economic Daily , November 19.
Ji, Z. 2015. “Risks of China's Excess Production Capacity and Governance.” [In Chinese.] New Financial Review , no. 1: 1–24.
Jia, K., and J. Su. 2015. New Supply Economics . [In Chinese.] Taiyuan: Shanxi Economics Press.
Jian, X. 2015. “Regulate Capital: Narrow the Gap between Rich and Poor.” [In Chinese.] Contemporary Economic Research , no. 5: 27–33.
Jian, X. and J. Yu. 2016. “To Understand the Supply-side Reform with Marxist Political Economy.” [In Chinese.] Economic Daily , January 11.
Li, Z. 2015. “Structural Reform: What to Change and How to Change.” [In Chinese.] Economic Daily , November 23.
Lv, Z. 2015. “Grasp the Focal Point of Optimizing the Allocation of Resources at the Present Stage.” [In Chinese.] People's Daily , October 29.
Qing, M., B. Xin, Y. Liu, and W. Zhang. 2016. “Amazing Wealth Differentiation Worrying the World.” [In Chinese.] Global Times , January 20.

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[1] Deng, X. 1993. Deng Xiaoping Anthology . [In Chinese.] 3rd ed. Beijing: People's Publishing House.

[2] Ding, G. 2016. “Asian Effect of Decline of American Middle Class.” [In Chinese.] Global Times , January 22.

[3] Ding, R. 2015. “Pay High Attention to the Supply-side Structural Reform.” [In Chinese.] Economic Daily , November 19.

[4] Ji, Z. 2015. “Risks of China's Excess Production Capacity and Governance.” [In Chinese.] New Financial Review , no. 1: 1–24.

[5] Jia, K., and J. Su. 2015. New Supply Economics . [In Chinese.] Taiyuan: Shanxi Economics Press.

[6] Jian, X. 2015. “Regulate Capital: Narrow the Gap between Rich and Poor.” [In Chinese.] Contemporary Economic Research , no. 5: 27–33.

[7] Jian, X. and J. Yu. 2016. “To Understand the Supply-side Reform with Marxist Political Economy.” [In Chinese.] Economic Daily , January 11.

[8] Li, Z. 2015. “Structural Reform: What to Change and How to Change.” [In Chinese.] Economic Daily , November 23.

[9] Lv, Z. 2015. “Grasp the Focal Point of Optimizing the Allocation of Resources at the Present Stage.” [In Chinese.] People's Daily , October 29.

[10] Qing, M., B. Xin, Y. Liu, and W. Zhang. 2016. “Amazing Wealth Differentiation Worrying the World.” [In Chinese.] Global Times , January 20.