The 27th Annual Meeting of the Chinese Society for the History of Foreign Economic Theories Held in Anhui

From November 8-10, 2019, the 27th Annual Meeting of the Chinese Association for Research on Foreign Economic Theories, jointly hosted by the Chinese Association for Research on Foreign Economic Theories and Anhui University of Technology, and organized by the School of Business of Anhui University of Technology and the Anhui Institute for Innovation-Driven Development, was held at Anhui University of Technology. Attendees included Professor Cheng Enfu, Chief Professor at the University of the Chinese Academy of Social Sciences, Member of the CASS Academic Division ^[1], and President of the Chinese Association for Research on Foreign Economic Theories; Professor Liu Xinyue, Party Committee Secretary of the University; and Vice Presidents of the Association: Hua Guihong (Secretary of the Party Committee of Jiangsu Normal University), Hu Leming (Institute of Economics, CASS), Fang Xingqi (Guangdong University of Finance and Economics), Zhang Xian (Sichuan University), Cao Heping (Peking University), Jia Genliang (Renmin University of China), Feng Jinhua (Shanghai University of Finance and Economics), and Meng Jie (Fudan University). Over 180 experts and scholars from domestic universities, research institutions, and academic journals, including the Chinese Academy of Social Sciences, Renmin University of China, Wuhan University, Shandong University, and Jilin University, participated in the meeting. Guided by the spirit of the Fourth Plenary Session of the 19th CPC Central Committee, the annual meeting focused on the study of foreign economic theories, summarized the 70 years of economic construction in New China, and explored future economic development both in China and abroad.

At the opening ceremony, Secretary Liu Xinyue of Anhui University of Technology delivered the welcoming remarks. He introduced the development history, institutional positioning, discipline construction, and personnel training of Anhui University of Technology and its School of Business. He pointed out that General Secretary Xi Jinping’s "three proposals" and "five measures" regarding economic globalization and China’s continuous promotion of higher-level opening-up, delivered at the second China International Import Expo, provide a clear direction and framework for conducting research on socialist political economy with Chinese characteristics. He expressed his hope that, under the guidance of the spirit of the Fourth Plenary Session of the 19th CPC Central Committee, the participants would expand the depth of research into foreign economic theories with a broad vision, profound commitment, innovative thinking, and forward-looking perspectives, contributing advice and suggestions for China’s Marxist economic theory and its socio-economic development.

The renowned economist Professor Cheng Enfu delivered the opening speech and keynote report. He noted that this annual meeting would revolve around its core themes to conduct in-depth discussions on Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era, new progress in contemporary Western economics, the comparison between Marxist economics and Western economics, and the summary and prospects of China’s 70 years of economic construction. He provided a profound analysis of three major issues: "The objective evaluation of Western economics and Marxist economics," "The accurate understanding of the achievements and problems of 70 years of economic construction in New China," and "The scientific positioning of the five major characteristics and traits of neo-imperialism."

First, Professor Cheng emphasized that the study of Western economics must not ignore its class nature. Marx clearly stated that "economists are the scientific representatives of the bourgeoisie," referring to classical economists represented by Adam Smith and David Ricardo. Marx’s emphasis on the class nature of economics and economists remains of practical significance today. Western bourgeois economists, represented by winners of the "Nobel Prize in Economics" (Bank of Sweden Prize), are the academic representatives of the contemporary bourgeoisie, especially the monopoly bourgeoisie. Many of their fundamental academic viewpoints possess serious class tendencies and value biases, being neither objective nor scientific. However, their analysis of certain economic phenomena contains aspects worth studying and learning from. It is commendable that this year’s "Bank Nobel Prize" was not awarded to neoliberal economists who produced various economic crises and the opposition between wealth and poverty, but to scholars researching poverty. Nevertheless, their investigations of poverty and its causes remain primarily at the level of phenomena—describing it mostly from the perspective of the poor themselves rather than conducting a deep-level analysis of the chronic institutional and policy maladies of capitalist economy, politics, education, and culture. This is determined by their essence as academic representatives of the bourgeoisie. Only Chinese and foreign Marxist economists can—and already have—scientifically revealed the true causes of various types of poverty from phenomenon to essence. At present, great importance must be attached to Thomas Piketty’s new book, Capital and Ideology, which contains many correct viewpoints worthy of affirmation.

Second, Professor Cheng pointed out that the 70-year history of New China can be divided into three major historical stages: the period before reform and opening-up, the period after reform and opening-up, and the New Era following the 18th Party Congress. From the perspective of economic construction, these three stages have created "three miracles" of world economic development, successively forming three phases: elementary prosperity and power, sub-intermediate prosperity and power, and intermediate prosperity and power as a "quasi-center" of the world economic system. The economic construction achievements of the first 30 years of New China, whether compared longitudinally with old China or horizontally with the international community, were brilliant in performance. The multifaceted development dividends accumulated during those first 30 years were an indispensable foundation and prerequisite for the success of reform and opening-up.

Third, Professor Cheng noted that establishing a theory of "neo-imperialism" is extremely necessary for studying foreign economic theories. Neo-imperialism is a special historical stage of the development of monopoly capitalism under the conditions of contemporary economic globalization and financialization. It possesses five characteristics: new monopolies in production and circulation, new monopolies of finance capital, monopolies of the US dollar and intellectual property, new monopolies of international oligarchic alliances, and the frequent intensification of globalized capitalist contradictions and various crises. It also possesses four traits: monopolistic and predatory, hegemonic and fraudulent, decadent and parasitic, and transitional and moribund. Based on this analysis, Professor Cheng pointed out that neo-imperialism is a new stage in which capitalism has developed from free competition, general private monopoly, and state monopoly to international monopoly. It represents a new expansion of the international monopoly bourgeoisie, a new system in which a tiny minority of developed countries dominate the world, and a new policy of economic, political, cultural, and military hegemonism. Judging from the current convoluted development of international forces of justice and international class struggle, the 21st century is a New Era for the world's working class and the broad masses of people to carry out a great revolution and safeguard world peace; it is a New Era for socialist countries to carry out great construction and rapid development; it is a New Era for progressive and civilized countries to jointly build a community with a shared future for humanity; and it is a great epoch in which neo-imperialism and global capitalism gradually transition toward global socialism.

The annual meeting was divided into two major segments: keynote speeches and group discussions. Following the opening ceremony, several experts delivered keynote speeches: Professor Ding Xiaoqin (Shanghai University of Finance and Economics) on "Elucidating the Thought of the 2019 World Marxian Economics Award Winners"; Professor Zou Wei (Wuhan University) on "Theoretical Evaluation of the 2019 Nobel Prize Winners in Economics"; Professor Fang Xingqi (Guangdong University of Finance and Economics) on "Re-evaluating Western Comparative Advantage Theory Based on the US-China Trade War"; Professor Jia Genliang (Renmin University of China) on "Returning to the Source of the Concept of Latecomer Advantage: An Investigation of the History of Economic Thought and Its Great Practical Significance"; Professor Feng Jinhua (Shanghai University of Finance and Economics) on "Interest Rate Determination Theory and Monetary Policy Based on the Labor Theory of Value"; Professor Meng Jie (Fudan University) on "State Theory in Socialist Political Economy with Chinese Characteristics: Origins, Objects, and System"; Professor Li Guicai (Jilin University of Finance and Economics) on "The Limits of Reason: The Evolution and Reflection of Neoliberalism—and the Transcendence of Neoliberalism by the China Model"; Professor Yang Hutao (Chinese Academy of Social Sciences) on "What Caused the Long Depression? Can It End?—Explanations and Synthesis from Heterodox Economics"; and Professor Hong Gongxiang (Anhui University of Technology) on "Theoretical Sources, Disputes, and Review of the Negation and Skepticism of the Private Economy." The profound insights and novel viewpoints of the experts won rounds of applause from the delegates.

On the afternoon of the 9th, delegates participated in five group discussions: "70 Years of Economic Construction in New China and Research on Socialist Political Economy with Chinese Characteristics," "Research on Marxist Economic Theory," "Research on Western Economic Theory," "Research on Chinese Economic Issues," and "Research on International Economic Issues." A total of 32 delegates reported their research results during the group sessions.

During the keynote speech session on the morning of the 10th, Professors Zhang Xian (Sichuan University), Cao Heping (Peking University), Wu Shanlin (Shanghai University of Finance and Economics), Chen Hong (Nankai University), Long Fu (Wuhan University), Tao Shigui (Nanjing Normal University), Song Xianping (Beijing Institute of Technology), and Jiang Xiaoguo (Anhui University of Technology) addressed the assembly.

At the closing ceremony, the Association presented certificates for excellent papers of the 27th Annual Meeting, with authors of 11 papers receiving this honor. After deliberation, the Association also announced the list of newly elected executive directors and directors. Vice President Zhang Xian delivered the closing remarks, and Professor Hu Leming presided over the ceremony.

The Chinese Association for Research on Foreign Economic Theories is a national first-level economic academic society ^[2] founded in Beijing in September 1979 by Professor Chen Daisun and other renowned economists of the older generation. The Association’s annual meeting has developed into one of the largest, most active, and most influential academic gatherings in the field of economics in China, making outstanding contributions to the scientific sublation of foreign economic theories and the development of innovative Chinese economics.

(Xu Zerong, Yang Jing)