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

From November 8 to 10, 2019, the 27th Annual Meeting of the Chinese Association for Research on Foreign Economic Theories, jointly organized by the Chinese Association for Research on Foreign Economic Theories and Anhui University of Technology, and hosted 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 Cheng Enfu, Chief Professor at the University of the Chinese Academy of Social Sciences, Member of the CASS Academic Division, and President of the Association; Professor Liu Xinyue, Party Secretary of the University; Vice President Hua Guihong, Party Secretary of Jiangsu Normal University; Vice President Hu Leming of the Institute of Economics at CASS; Vice President Fang Xingqi of Guangdong University of Finance and Economics; Vice President Zhang Xian of Sichuan University; Vice President Cao Heping of Peking University; Vice President Jia Genliang of Renmin University of China; Vice President Feng Jinhua of Shanghai University of Finance and Economics; and Vice President Meng Jie of Fudan University. More than 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, attended the meeting. Guided by the spirit of the Fourth Plenary Session of the 19th CPC Central Committee, the annual meeting focused on studying foreign economic theories, summarizing 70 years of economic construction in New China, and discussing future economic development in China and abroad.

At the opening ceremony, Secretary Liu Xinyue of Anhui University of Technology delivered the welcome address. He introduced the developmental history, institutional positioning, disciplinary construction, and personnel training of Anhui University of Technology and its School of Business. He pointed out that General Secretary Xi Jinping’s "three initiatives" and "five proposals" regarding economic globalization and China's continuous promotion of higher-level opening-up, delivered at the second China International Import Expo, provided a clear direction and compliance ^[1] for our research into the political economy of socialism with Chinese characteristics. He expressed his expectation that the delegates, guided by the spirit of the Fourth Plenary Session of the 19th CPC Central Committee, would apply a broad vision, profound sentiment, novel thinking, and forward-looking perspective to expand the depth of research into foreign economic theories and offer advice and suggestions for our country's Marxist economic theory and socio-economic development.

The renowned economist Professor Cheng Enfu delivered the opening speech and a keynote report. He noted that this annual meeting would revolve around its 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, a comparison between Marxist economics and Western economics, and the summary and prospects of 70 years of economic construction in China. He conducted an in-depth analysis of three major issues: "objectively evaluating Western economics and Marxist economics," "accurately understanding the achievements and problems of 70 years of economic construction in New China," and "scientifically positioning the five major characteristics and traits of neo-imperialism." First, Professor Cheng emphasized that the study of Western economics must not neglect its class nature. Marx clearly pointed out that "economists are the scientific representatives of the bourgeoisie," referring here to the classical economists represented by Adam Smith and David Ricardo. Marx attached great importance to the class nature of subjects and scholars, a point that remains of practical significance today. Contemporary Western bourgeois economists, represented by winners of the "Nobel Prize in Economics" (Sveriges Riksbank Prize), are the academic representatives of the contemporary bourgeoisie, particularly 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 is worth studying and referencing. This year's "Nobel Prize in Economics" was not awarded to neoliberal economists who have brought about various economic crises and the opposition between rich and poor, but to scholars who study poverty; this is to be affirmed. However, their investigations into poverty and its causes are primarily phenomenal, describing it more in terms 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 Marxist economists, Chinese and foreign, can and have scientifically revealed the true causes of various types of poverty from phenomenon to essence. Currently, high 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 National Congress of the Party. From the perspective of economic construction, these three stages created "three miracles" of world economic development, successively forming three stages of "moderate prosperity": elementary, sub-intermediate, and "quasi-central" within 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 international standards, demonstrate brilliant performance. Market dividends and developmental foundations accumulated during the construction of the first 30 years are an indispensable basis and prerequisite for the success of reform and opening-up.

Third, Professor Cheng suggested 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 global capitalist contradictions and various crises. It possesses four traits: monopolistic and predatory, hegemonic and fraudulent, decadent and parasitic, and transitional and moribund. Based on the analysis of these characteristics and traits, 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 is a new expansion of the international monopoly bourgeoisie; it is a new system dominated by a tiny minority of developed countries; and it represents new policies of economic, political, cultural, and military hegemonism. Judging from the current convoluted development of international justice forces and the international class struggle, the 21st century is a new era for the world’s working class and the broad masses of the people to carry out a great revolution and safeguard world peace; a new era for socialist countries to carry out great construction and rapid development; a new era for progressive and civilized countries to jointly build a community with a shared future for humanity; and a great epoch in which neo-imperialism and global capitalism gradually transition toward global socialism.

The annual meeting was divided into two major blocks: keynote speeches and group discussions. Following the opening ceremony, several professors delivered keynote speeches: Professor Ding Xiaoqin of Shanghai University of Finance and Economics on "Elucidating the Ideas of the 2019 World Marxian Economics Award Winners"; Professor Zou Wei of Wuhan University on "Theoretical Evaluation of the 2019 Nobel Prize Winners in Economics"; Professor Fang Xingqi of Guangdong University of Finance and Economics on "Re-evaluating Western Comparative Advantage Theory Based on the Sino-US Trade War"; Professor Jia Genliang of Renmin University of China on "Returning to the Source regarding the Concept of Latecomer Advantage: An Investigation into the History of Economic Thought and Its Great Practical Significance"; Professor Feng Jinhua of Shanghai University of Finance and Economics on "Interest Rate Determination Theory and Monetary Policy Based on the Labor Theory of Value"; Professor Meng Jie of Fudan University on "The State Theory of Political Economy of Socialism with Chinese Characteristics: Origins, Objects, and Systems"; Professor Li Guicai of Jilin University of Finance and Economics on "The Limits of Reason: The Transmutation and Reflection of Neoliberalism—Simultaneously Discussing the Transcendence of Neoliberalism by the China Model"; Professor Yang Hutao of the Chinese Academy of Social Sciences on "Why Did the Long Depression Begin? Can It End? Explanations and Synthesis from Heterodox Economics"; and Professor Hong Gongxiang of Anhui University of Technology on "The Theoretical Sources, Disputes, and Review of the Negation and Doubt 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 the Political Economy of Socialism with Chinese Characteristics," "Research on Marxist Economic Theory," "Research on Western Economic Theory," "Research on China’s Economic Issues," and "Research on International Economic Issues." A total of 32 representatives reported their research findings during the group discussions. On the morning of the 10th, during the keynote speech phase, Professors Zhang Xian of Sichuan University, Cao Heping of Peking University, Wu Shanlin of Shanghai University of Finance and Economics, Chen Hong of Nankai University, Long Fu of Wuhan University, Tao Shigui of Nanjing Normal University, Song Xianping of Beijing Institute of Technology, and Jiang Xiaoguo of Anhui University of Technology spoke in succession.

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

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 famous older-generation economists in China. The annual meeting of the Association 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 and innovation of Chinese economics.

(Xu Zerong, Yang Jing)